Talk of The Villages Florida - View Single Post - Wording in property insurance excludes sinkhole coveraage
Thread: Wording in property insurance excludes sinkhole coveraage
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Old 04-23-2014, 10:39 AM
janmcn janmcn is offline
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Quote:
Originally Posted by justjim View Post
Insurance legislation regarding sinkholes may be needed in Florida to protect homeowners. Why could you get sinkhole insurance on a new home and not a resale? It seems to me the "risk" to an insurance company would be the same.

Something doesn't add up.

It's the Florida Legislature that got us in this mess in the first place when they passed the law in 2012 allowing for this new term "catastrophic ground collapse" as opposed to the all encompassing term sinkhole. Since this law was passed, sinkhole claims have dropped by 80%, I just read in The Tampa Bay Times editorial yesterday. Guess who was behind this law?