The type of sinkhole that took up part of a resort complex in Clermont is called a catastrophic ground collapse. If that happens on your property and all or part of your house is swallowed up, your homeowners insurance will cover it.
If the sinkhole is gradual and cracks your foundation and walls gradually, you will be covered only if you have the separate sinkhole coverage option. The companies offering it are few and far between. You may get it but the deductible will usually be 10% of the home value.
Could it happen in The Villages? Dang, who knows? All of Florida is located over limestone karst and when the underground sand collapses or is washed away, the holes do appear.
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