Assuming you have sinkhole insurance with 10% deductible, then if your home is appraised at 300k on your tax bill, then you are responsible for the first 10% meaning you have to pay for first $30,000.
If the damage is $40,000, you still pay 30k and insurance pays 10k.
If your neighbor has one in his yard or partially/totally destroys his house, then you are screwed anyway because why would anyone want to buy your house...being next to sinkhole
If you have a sinkhole in your yard, you are not covered.
If you do not have sinkhole insurance and your house is totally destroyed/uninhabitable, then you are complewtely covered without any 10% deductible.
I chose to take the gamble and not pay additional $450 in sinkhole coverage.
It is definitely a personal decision. You have to be able to put your head on the pillow at night. I just thought I would explain this sinkhole additional coverage....as it was explained to me.
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