[elizabeth52]

I took the advice of several TOTV members and called an insurance agent to ask my questions regarding sinkhole insurance. I just spoke to an agent in the Allstate office who indicated that they have been flooded with calls from people who already own property within Villages and people considering buying property in the Villages.

As most of you know, catastrophic sinkhole insurance is part of your homeowners policy, however, MOST incidents of sinkhole damage is not catastrophic. They currently will write a policy with a 10% deductible and pay up to a policy's limits. The homeowner is responsible out of pocket for everything under the 10% and anything over a policy limit. But he also said that he understands that in the very near future, even the 10% deductible will not be offered and there will be no sinkhole insurance available except catastrophic. He also said that if you currently have a policy with a less that 10% deductible, chances are that upon renewal, it will be hiked to the 10% or dropped altogether. He has heard of cases where the hike has occured after 5 years on new construction, but the more and more insurers are getting out of the sinkhole insurance business.

He also said that if your home is within one mile radius, your home is attached to that sinkhole as far as insurance and how it will be rated. It will also be noted on any inspection report if you go to sell your property.

I did call another Agency called Town and Country, but they said that no one was offering sinkhole insurance in Florida. They would not engage in any conversation and cut me off so I couldn't ask any questions.


Has anyone here experienced their sinkhole insurance dropped or changed? Or not being able to get it at all?