Quote:
Originally Posted by retiredguy123
Regarding your statement that sinkhole coverage is very costly, I have sinkhole coverage on my Progressive homeowner's policy. The total annual premium is $1,202. The sinkhole portion of the premium is $138, or about 11 percent of the total premium. The deductible is $26,900, which is 10 percent of the dwelling value. Note that I have had sinkhole coverage since the house was new, and I have never been required to get an inspection.
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Doesn't the very low cost tell you something? It says there is an extreemly low risk to the insurance company or the premium would be way higher. In your case the $138 is good for peace of mind but otherewise it's probably a waste of money unless you know for sure you are living in an area that is prone to sink holes.