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Originally Posted by twotogo
I heard that someone received a letter from their insurance company that their sinkhole coverage was canceled. The catastophic sinkhole coverage was not canceled. Has anyone else had their sinkhole coveraged canceled?
What did you do? Can you get S.H. coverage from Florida Citizens Ins? What would the cost and the deductible be?
We have visited The Villages for two years and will be putting our home up for sale in April. I need to be sure I will be covered when the home is built and in the future. Thanks in advance for responding.
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It's possible that insurance companies will not renew policies with sinkhole coverage. The reason I say this is that when we lived in Palm Beach County, our HO policy was not renewed by Allstate Floridian, along with 95,000 others. This was due to hurricane losses, even though we never had a claim. Even our agent's policy was not renewed. The big insurance companies left Florida and gradually smaller companies moved in. Probably when the whole issue of sinkhole claims eventually settles down more insurance companies will step in and offer the coverage.
Allstate Floridian offered us one alternative: Universal Property, with whom we could retain our $500 deductible. Citizens would have been much more expensive with a higher deductible. Our insurance in TV is up for renewal in July and we'll have to see what happens.