The insurance changes SECURE FOUNDATIONS made reference to are in fact comming. I have alerted TOTV readers in the past to be aware of the type of Sinkhole coverage they are getting with their homeowners policy.
One caution I would have about what Secure Foundation is recommending..ie file an insurance claim now if you suspect any damage, its not that easy. The insurance company most likely will accept your claim (ie open a file) and then write back if you can prove the alleged damage is due to sink hole activity via geological report/test, we will move on the claim. What that requires is for the home owner to spend $1000's of dollars to do bore testing and geological surveys and ONLY...i repeat ONLY if the testing comes back positive for confirmed sinkhole activity will the insurance company then become activily involved and most likely do their own tests. ONLY if the tests come back positive will the insurance company pay you for the testing, you initially paid for and then any repairs necessary....that is assuming you have sinkhole coverage that includes sinkhole activity not simply catastrophic sinkhole coverage.
|