There are many opinions on this topic but at the end of the day, unless you are living in an area where there has been a lot of sinkhole activity actually affecting homes, it's a waste of money.
Why?
1) Most of the time if you have sinkhole activity under your home, eventhough the home is still standing, it will probably be considered catastrophic. There was a case like this last year where there was a sinkhole on a golf course that caused a nearby home to be declared unhabitable eventhough the home looked perfectly fine.
2) We have had sinkholes in the roadways or by a curb in the road and most of these were caused by broken water or sewer pipes although they were called sinkholes.
3) Although a sinkhole can happen, it's a very low possibility, again unles you live in an area with a lot of occurances.
4) Many people thought sinkhole insurance would cover a hole in their lawn, driveway, backyard or on the side of the house but that's not the case. It only covers non-catastrophic collapse or settling of the dwelling or living area of your home.
I'm sure other's will chime in but this is one way of looking at it.
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