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View Full Version : Sinkhole Insurance yes no?

MSchad
08-15-2018, 05:56 PM
I know, another thread about sinkhole insurance. But I’m curious as to do most people actually get it if they can. Haven’t found any discussion on that. Do you have it, yes/no, and why?
FYI.... closing on home next month. :)
Thanks!
BRN_RI_FL
08-15-2018, 06:04 PM
We’re part time Villagers in Phillips Villas. We have sinkhole insurance as well as flood insurance. Probably won’t need either but we sleep better knowing we have them.
aninjamom
08-15-2018, 06:18 PM
Definitely YES if you can get it.
jnieman
08-15-2018, 06:32 PM
Yes
bagboy
08-15-2018, 07:10 PM
We’re part time Villagers in Phillips Villas. We have sinkhole insurance as well as flood insurance. Probably won’t need either but we sleep better knowing we have them.

Ditto...
BobnBev
08-15-2018, 07:28 PM
Ditto...

Same here, better safe than sorry.:pray:
gerryh1943
08-15-2018, 07:30 PM
Have it haven't use it but would not drop it either
vintageogauge
08-15-2018, 08:04 PM
All types of insurance policies are gambles including life insurance. It's up to you.
784caroline
08-15-2018, 08:38 PM
Make sure your not simply talking catastrophic sink hole coverage (every florida should have this) but the wider (and optional)
coverage to include structural damage to include the settling or cracking of a foundation, structure, or building which does not constitute a loss resulting from a catastrophic ground cover collapse.
villagetinker
08-15-2018, 08:48 PM
Yes to the supplemental sinkhole coverage. Catastrophic coverage is built into your home insurance policy.
MSchad
08-15-2018, 09:59 PM
Thanks for all the replies. All my quotes have included the optional sinkhole coverage and was planning on it but curious if anyone ever opted to pass on it. But I hadn’t thought about flood insurance. Up here if your in a flood plane the mortgage companies require flood insurance. Not so down in TV’s?
asianthree
08-15-2018, 10:47 PM
Our new homes sinkhole coverage was offered. Our preowned there was no coverage available. Does it bother me not to have coverage, sometimes when there is a new sinkhole.
badabing06405
08-16-2018, 05:11 AM
why not? for a extra $50. aprox.. its a piece of mind
dewilson58
08-16-2018, 06:50 AM
Yes
biker1
08-16-2018, 08:21 AM
Optional sinkhole coverage is not $50.

why not? for a extra $50. aprox.. its a piece of mind
Radioman41
08-16-2018, 09:17 AM
The Property Owners Association (POA) hosted a meeting on July 17, 2018 that discussed sinkhole insurance. The speakers said it is very difficult to get insurers to pay claims after 2011 legislation reforming this coverage. Attached is a link to the August POA Bulletin that goes into depth on this issue.

http://poa4us.org/bulletins_files/bulletin201808.pdf