This is basically a question of risk vs cost. The risk is low for sure. The cost is whatever it is. So one would have to know their risk tolerance and make a decision. An insurance broker explained to me that the catastrophic ins which is mandatory will cover your home if the home is damaged from a sink hole. If a sinkhole opens up away from the home, in the driveway, back yard, etc that's when sinkhole coverage takes over. I'm not sure everyone understands this. I personally do not have sink hole coverage.
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