I view insurance as a necessary evil...not something I want. Insurance to me is to cover unexpected costs/expenses that canot be foreseen and something I am not willing to self-insure for. Also I base the need to obtain insurance on the risk of such an event happening that would cause the insurance to kick in AND out of pocket costs to pay for such damage.
DO Sink holes occur frequently....NO
...DO they occur ..YES..in The Villages YES... and one cannot predict where but as a previous poster stated they do frequent central Florida
When they do occur the damage can be substantial causing foundation and other structural damage...BIG bucks to repair.
With this rationale, and the availability of sink-hole insurance, I have it. Its part of my home owners policy not a separate add-on so I cannot say what I am paying for his particular coverage.
You cannot determine or compare home owner insurance simply on price alone. Some policies may or may not include Sink-hole coverage, wind deductibles can vary, but the real unknown is the financial ability of an insurer or underwritter to pay off all claims if in fact a major occurence happens.
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