Sinkhole history/insurance - Village of Charlotte

[TheDude]

I googled and it was 2014. Is this something I need to worry about?

Its a 18K deductible and that is a lot of money.

[Fraugoofy]

I googled and it was 2014. Is this something I need to worry about?

Its a 18K deductible and that is a lot of money.
Are you going to live in Charlotte?

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[fred53]

If you are a person who typically worries about hurricanes, floods, tornados, asteroids, sun spots, etc. then yes...you need to worry. The fact is sinkholes, while more likely with a building base such as Florida has, don't happen as often as you might think. Still, if you're a person who can't help but worry then you'll worry about this along with the other things I mentioned. Sinkholes aren't predictable. Google their cause and get educated. If you're still worried and can't handle the stress see your doc and take anxiety meds. If that isn't an option then move to a state with a granite base beneath the soil...like New Hampster, Maine or Vermont. They have other worries, but few sinkholes in their mountains.

[rubicon]

I googled and it was 2014. Is this something I need to worry about?

Its a 18K deductible and that is a lot of money.

Dude: that is a lot of money for a deductible and in this case I would certainly shop insurance. However it seems in Florida that insurance companies have the upper hand especially when it comes to homeowner policies.

In part you can thank our governor. In part you can thank all of those folks who continue to build mc mansions along the sea shore and in part you can blame those folks who seem to believe that insurance money is free .

I agree with your concern primarily because if you sustain such a loss it will be costly. I insure not for the little losses but the unsustainable larger losses that really cut into savings.

When it comes to deductibles choose those that you view you can absorb. Also when doing so consider any coinsurance it helps on reducing premiums. work with your agent to set limits deductible etc that meet your needs at the premium level you can afford

Too often people forget that securing insurance is securing peace of mind 24/7 and should actually hope they never have to use it.

Personal Best Regards:

[theorem painter]

I may be wrong but I believe the deductible on sinkhole insurance (not catastrophic) is 10% of the value of the home. So on a home worth $180,000 the deductible will be $18,000.

[redwitch]

No question we've had some sinkholes here. Most were a pretty easy, quick fix. A couple caused major foundation issues. Are they a concern? Yes. Are they worth losing sleep over? Nope. Sinkholes occur in almost every state. In California, we worry about fires and mudslides. Earthquakes,not so much. Sinkholes, almost never. I imagine that in Oklahoma they worry about tornadoes and earthquakes nowadays. Sinkholes not a priority. Minnesota and Wisconsin have more sinkholes than Florida. I've heard folks from those areas talk about concerns re blizzards, roofs collapsing due to snow, but not sinkholes. So, be aware they've occurred, but don't make it a major worry. (And I agree -- shop around for sinkhole insurance.)

[fw102807]

If you are a person who typically worries about hurricanes, floods, tornados, asteroids, sun spots, etc. then yes...you need to worry. The fact is sinkholes, while more likely with a building base such as Florida has, don't happen as often as you might think. Still, if you're a person who can't help but worry then you'll worry about this along with the other things I mentioned. Sinkholes aren't predictable. Google their cause and get educated. If you're still worried and can't handle the stress see your doc and take anxiety meds. If that isn't an option then move to a state with a granite base beneath the soil...like New Hampster, Maine or Vermont. They have other worries, but few sinkholes in their mountains.

New Hampshire had a sinkhole on I93 a couple of years ago.

[TheDude]

If you are a person who typically worries about hurricanes, floods, tornados, asteroids, sun spots, etc. then yes...you need to worry.


If by 'if' you mean is it something I usually worry about... well I don't think I do, but I am new to Florida and wonder if I should be concerned.

***

I am in Charlotte, and I think it is 10%

[ColdNoMore]

Buy the insurance if it gives you peace of mind.

If something catastrophic were to occur...the $18K deductible will seem like a bargain.

[TheDude]

I bought the insurance. It was cheap. Deductible is high but nothing I can't cover if I don't overspend (well, it could happen).

[Daddymac]

Doesn't your catastrophic part of your insurance cover sinkholes ???

[TheDude]

You are smarter than me. I usually just agree and trust people in TV not to screw me. I went to TV insurance and I trust them.

[2BNTV]

[QUOTE=TheDude;1338394]If by 'if' you mean is it something I usually worry about... well I don't think I do, but I am new to Florida and wonder if I should be concerned.

Being from the Northeast, the worst type of weather was snow and ice. I was very concerned about hurricanes, sinkholes and lightning. Insurance, insurance, insurance is the best answer.

When I first rented here, a house burned down from a lightning strike. I was shaking in my boots. Could something bad happen. YES! I had lightning rods installed on my home as I feel it's better that I have done everything in my power to prevent something from happening. Chances are slim to none. I don't worry about things beyond my control.

Been here for over three years and the good far outweighs any concerns about something bad happening.

Man plans and GOD laughs. :smiley: