Quote:
Originally Posted by buggyone
For the purpose of homeowner insurance - the sudden collapse of the ground like what happened at Buttonwood is covered. The "sinkhole coverage" is for the very gradual sinking of the ground that will put small cracks in walls, floors, etc and these will continue growing into larger and larger cracks. Sinkhole insurance is harder to find and has a high deductible. Catastrophic ground collapse is routinely covered and usually has the standard deductible. The foundation of the house must be compromised to pay a claim.
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Once the house is declared uninhabitable by the local building authority then a Catastrophic Ground Collapse Claim will be issued. I would believe from he pictures I saw that both houses are going to qualify. What I'm not clear on in the insurance side is whether the Insurance Company pays to repair or is the House Condemned and they issue you a check? Even if you fixed the problem how could you ever believe you could sell the home down the road?