Quote:
Originally Posted by Bill-n-Brillo
Just an FYI for everyone: I got a phone call a bit ago from the insurance agency we've dealt with in regards to our upcoming homeowners policy renewal with Security First. It was a courtesy call to let us know that when our policy renews in mid-December, it will renew without the sinkhole coverage we've had for the last 3 years. The young lady said Security First will no longer be providing sinkhole coverage on any homeowners policies.
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Bill  |
Quote:
Originally Posted by buggyone
I have Security First also. I was notified that the sinkhole insurance would be dropped IF I did not have a sinkhole inspection. That cost $140 and Security First would pay $70 of the $140. If no sinkhole activity was found (no cracks, etc) I could get the sinkhole coverage with a 10% deductible. I contacted several other insurance companies and was told even if I had the sinkhole inspector give a clean report, I probably would not get coverage. My Security First is underwritten with GEICO.
They all went to great extent to explain what the difference between sinkhole coverage and catastrophic ground collapse coverage means.
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Here's a bit of an update:
I contacted our agent's office this morning. The young lady who took the call seemed to contradict what I was told in the call I received yesterday (different person) - it sounds like Security First will still offer sinkhole coverage but your house will have to pass an inspection. This ties in exactly with what Buggyone posted.
The troubling part for us is that we DID have a sinkhole inspection soon after we initially got the H.O. insurance with them 3 years ago. We didn't get the sinkhole coverage initially but quickly opted for it a couple of months later - had and paid for our half of the inspection, etc. and have had the sinkhole coverage ever since. I suspect they're perhaps looking at the info from when our policy was initially put in force and not seeing the info from a couple of months later when we had the inspection done.
I e-mailed them info and documents confirming the inspection and the payment for it. They're to get in touch with me after they review the situation.
Bill