We recently bought a new home in TV and went through this with our agent when we got home insurance. She said that in 7 years, she has never seen a claim against the Sink Hole coverage (e.g. where a slow moving fault threatens the foundation). However, many people get it for peace of mind. It costs $300 a year, and includes a 10% deductible on the value of your policy. I went ahead and got it. For less than a dollar a day, I think having to pay 10% of the value of my home instead of hundreds of thousands of dollars in the unlikely event this occurred is worth it.
For the catrostrophic events that make the news, where all or part of your home is "swallowed" in a sudden event, you are covered with most Florida policies according to what she said.
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