Quote:
Originally Posted by rubicon
Elizabeth 52. what does secondary sinkhole insurance goes away in the near future mean?".
Secondly if one had both sinkhole coverage from insurance company and self-insured with village residents what would pay first?
Setting up a self-insured fund requires quite a bit of state regulations, etc It also includes errors and omission insurance liability insurance accounting requirements and audits, etc
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All homeowner's policies are required by law to have catastrophic ground collapse. What I am referring to as secondary (my words, not the insurance co.) is the additional sinkhole insurance that you may currently have. Some have mention that there is a high deductible associated with it. I was told by Allstate that they believe sinkhole insurance will soon become a thing of the past.
So, I'm saying this would be a great solution if sinkhole insurance were no longer offered.