Herv, rather than looking back for prior threads on whether or not someone felt sinkhole coverage will or won't be available in the new areas, I elected to contact our agent and get the scoop from her directly:
Rita Canty with Brightway Insurance out of Jacksonville - (904)646-1850.
Our policy on our patio villa in Duval was underwritten by Security First Insurance Co. through them just over a year ago. Brightway currently represents 41 of the 44 "admitted" (ie. approved by the state) companies that underwrite H.O. insurance in FL. Other insurance agencies only work with a few companies.
Here's what I got just a bit ago from my phone conversation with Rita:
- It is not necessarily easy to get sinkhole coverage added to a H.O. policy.....but it is not impossible if your home is considered viable to be covered. She did acknowledge that over the past two years, it has gotten more difficult. However, she was unaware of any companies refusing to write sinkhole coverage in any specific areas.
- Each request for coverage is reviewed on a case-by-case basis - a company wants to assess their risk in providing sinkhole coverage for your property. There is a process to go through - it is not as simple and straightforward as, say, calling your insurance agent and changing the deductible on your car insurance policy on the spot.
- Nearly all companies are now requiring some type of pre-coverage inspection which will help them assess the current condition of the property relative to sinkhole potential. She said most of the companies are using a third-party organization that specializes in such inspections - SDII was the company that did ours.
SDII Global Corporation > Home The insurance company split the cost of the inspection with us so our out-of-pocket for the inspection was $75 (early 2011) - and this 'split' was mentioned up-front and voluntarily by Rita at the time.....no arm-twisting on our part. Your experience with another company might differ.
My suggestion would be to check with the agent of your choice about what the process is for the company/ies they represent
IN ADVANCE of purchasing a property if you are locked in to wanting sinkhole coverage. We lucked out - the whole sinkhole coverage concept was new to us when we bought. Fortunately, our home passed inspection and we were able to get the coverage added a few months later......though it was not inexpensive (it added 19% to the total cost of our H.O. policy for this year!). If you find you're having problems, contact Rita for her input. I'd think if any insurance agency would be able to help, it would be them given that they're representing nearly all the companies able to write policies in FL.
Disclaimer: We have absolutely no affiliation, direct or indirect, with Rita or Brightway Insurance.
Bill
