Quote:
Originally Posted by retiredguy123
The insurance broker gave you incorrect information. Sinkhole coverage will only cover damage to your house. It won't cover damage to your property, such as your lawn or driveway. The difference between sinkhole insurance and the mandatory catastrophic ground collapse insurance is that the mandatory insurance can only be used if your house is condemned and declared uninhabitable. But, if your house has minor foundation damage, but not condemned, the sinkhole insurance will cover the damage.
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the question I have is you pay the first 10% of the value of the home,so let’s say the house is valued at 400 thousand you pay the first 40 thousand. I would think with that much damage the home would be condemned. Am I correct with my thinking.