Quote:
Originally Posted by Opulence
Let's just say that it's true. It is my understanding that the Insurance companies are no longer writing sink hole insurance in Florida. If this is the case, and you buy a new home without the sink hole insurance - then I would assume you would be liable to have the sink hole fixed on your own.
What if you did not have the 200 grand (or even half of that amount) available, so you could have the hole filled??? Then what??? I feel certain that the developer would not be happy w/a sink hole left unfixed for all to see. It presents real problems and unanswered questions for me and I am sure for others as well.
Does anyone on the list have some factual information in such a case? We have some very well informed members & I am hoping they have answers to this worse case scenario.
Betty
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I bought my homeowners insurance in March. I got the sinkhole coverage for $86.00 per year for a $250,000 home. I believe it has a 2% deductible.