Quote:
Originally Posted by glgene
I have read conflicting stories on sink hole insurance. So, my questions ---
1) Is it available for purchase of resale homes, or new homes only?
2) Are there different levels of coverage?
3) If available for purchase, is the premium based strictly on the value of the home? What kind of insurance co$t might apply?
4) What is the frequency in TV does sink holes happen?
5) Anything I missed?
Gene
|
I am told by several insurance companies that we deal with that you can get "catastrophic ground collapse" coverage. They don't call it sinkhole coverage anymore because people kept filing claims for step cracking on concrete block, which occurs in normal settling. So
most insurances companies, if not all, say "we don't have sink hole coverage, we have catastrophic ground collapse coverage." We use several great insurance companies who can help you with answers to the rest of your questions. Pleae let me know if you need some contact info for them.