Quote:
Originally Posted by graciegirl
I don't understand the part above highlighted. Could you explain?
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The gentleman I spoke with at the Florida Dept. of Insurance said they started trying to keep up with where the sink holes are within different areas, but they quit trying because people were not reporting them. I asked him if it wouldn't be better to buy a property that was already repaired (concrete pilings) but he said absolutely not. After your property has been reported to an insurance company as a "sink hole property", repaired or not, it would be difficult or impossible to get coverage. If you did get coverage, the insurance company can cancel you or go up on your insurance at any time. After much research on sink holes, I am more aware now when I look at a house to watch out for the sink hole warning signs. Many persons put their properties on the market when they first start seeing signs or sink hole possibilities; thereby making them so called "unaware".