Talk of The Villages Florida - View Single Post - Security First Insurance - no more sinkhole coverage
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Old 08-20-2013, 06:19 PM
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I wonder what will happen when a mortgage holder gets stuck with a house that has a sinkhole problem and the owners walk away. Will mortgage brokers stop lending in areas that are sinkhole sensitive?
Most basic policies cover catrostrophic ground collapse but before they pay the house has to be deemed uninhabitable. Our policy currently has sinkhole coverage but with a $25,000.00 deductible.
If the mortgage companies start demanding coverage will the insurance companies provide it or will we have a impasse?