We have both coverages. We bought new construction and was told by agent we should have it, most everyone does. Upon renewal we were also debating whether to keep it and an inspector told us in their opinion keep it at least 5 yrs to give everything time to settle after all the disruption in the area. An actual example given was a sink hole opening in front yard that damaged attached garage and foundation was not covered under catastrophic cause house was not condemned - cost was about $100k to repair. Convinced us to keep it and went with State Farm, we have 1/2% deductible for all perils including the added sinkhole coverage. Only one I found that offers less than the 10% deductible on sinkhole and we got better coverages on other items.
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