Talk of The Villages Florida - View Single Post - Wording in property insurance excludes sinkhole coveraage
View Single Post
 
Old 04-23-2014, 02:47 PM
janmcn janmcn is offline
Sage
Join Date: Oct 2011
Posts: 5,298
Thanks: 0
Thanked 2 Times in 2 Posts
Post

Quote:
Originally Posted by graciegirl View Post
Just as Bucco says. Read here from The Tampa Bay Times the abuse of the prior laws from people using the insurance money from the State for friviolous things.
Sinkholes become Florida's latest insurance disaster | Tampa Bay Times

The insurance companies have a fiduciary responsibility to protect themselves and their shareholders from waste, fraud and abuse. Since they are unable or unwilling to carry out that responsibility, they are now allowed, by the FL legislature, to punish people who never commited any fraud by not providing them with sinkhole insurance (other than the catastrophic ground coverage).

What other states have natural disasters; ie tornadoes, floods, earthquakes, fires, mudslides, etc, that are not insured?

If posters on here think it's no big deal to write out a check for $200,000 to $300,000 to cover a sinkhole in their yard, so be it. That's what the homeowners in Buttonwood would have had to do if they hadn't had sinkhole insurance.