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Originally Posted by janmcn
Tallahassee has been involved. The Florida Legislature is the one writing this legislation that allows insurance companies to create these loopholes.
This topic has been discussed many times on this forum, and sadly will only get worse. If sink hole insurance is important to buyers, they need to make it a contingency in their offer to purchase. However, as you stated, it is not available in 99.9% of cases.
Though not specific to sinkhole insurance, this article from today's newspaper reports what the legislature is working on today.
Property insurance rates could go through roof under Senate bill | Tampa Bay Times |
This article deals with rate increases, We all know there only going to go up it's just by how much. What I'm talking about is denial of insurance regardless of rate amount. There' s something wrong here. How can they deny it and why isn't the real estate people here in the villages informing their clients of this?