[rjm1cc]

No but
I Assuming you can afford to replace the home.
I would have the basic policy, one reason would be the liability coverage. Consider an umbrella liability policy also.
Flood depends on the land around your property. I would look to buy in areas that have not had the problem.
Sink Hole you get some coverage in your basic policy (if the home is not habitable). I would see what the builder does to make sure your home site is probably ok. and if I though that worked then no. BUT if you have ponds close by these can leak and cause sink holes. So probably get the insurance. Also you should be able to research the area for past sink holes and I would then avoid these areas.