Quote:
Originally Posted by retiredguy123
Your information does not seem to track with this explanation from Harry Levine Insurance. Also, both sinkhole insurance and catastrophic ground collapse insurance only cover the house, not the surrounding property:
"Catastrophic Ground Cover Collapse
Catastrophic ground cover collapse coverage is included under your existing home insurance policy.
However, your claim must meet four requirements before your insurance company will reimburse you for the loss:
1. The abrupt collapse of the ground cover;
2. A depression in the ground cover clearly visible to the naked eye;
3. ,Structural damage to the insured building, including the foundation; and
4. The insured structure being condemned and ordered to be vacated by the governmental agency authorized by law to issue such an order for that structure.
Again, all four of these conditions must be met for it to be considered catastrophic ground collapse. Incidents that meet only some of these conditions would require a sinkhole insurance policy."
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This is correct BUT regular sink hole insurance covers where the house is settling and is still livable. Many people believe regular sink hole insurance covers collapses in their lawn, driveway, back yard, etc,. but it does not.
Regular sink hole insurance that you pay for only covers settlement under any living area.
In reality, based on recent sink holes here in The Villages where homes were affected, the homes met the conditions for catastrophic ground collapse and was covered under the main insurance. This was the case recently where a sink hole developed on Nancy Lopez golf course. The affected home had no visible evidence to the naked eye by the newspapers and neighbors but the state declared it catastrophic.