Potential buyer with sinkhole suggestion

[plantagenet]

I am impressed with your "well-oiled " machine concept but a little put off by the sinkhole boogie man. We have similar issues in the NE., but are not well oiled here. Since TV collects an activities fee and puts it to good use, would it not be feasible to collect a modest sinkhole fee based on square footage and use this as collective self - insurance for
damage that is not covered by the homeowners catastrophic clause? It doesn't seem that fraudulent claims should be an issue with you guys.

[JohnN]

well, you can get sinkhole insurance north of 466-a.

2nd, who would coordinate and maintain this common fund?
could be an expensive boondoggle.

3rd.. very very few sinkholes (I know, it only takes one) in reality.

4th.. all the sinkholes I've seen, are very close to water, which causes the sand/land erosion. Don't live right next to the water!!!!

I've got the insurance, and I'm not near water, I'm not worried.
best wishes

[Villageshooter]

you ever try to get blood out of turnip? that is what would be like getting that passed here,,, I think the next big pot of gold setting out there for the powers to be is a registration fee sticker for golf carts. To be honest is a great idea,, but folks will not go for it..

[Bogie Shooter]

What are the benefits of a registration fee sticker?

[asianthree]

just have to go with what the weather brings rain and maybe a sinkhole for two:ohdear:

[Pturner]

I am impressed with your "well-oiled " machine concept but a little put off by the sinkhole boogie man. We have similar issues in the NE., but are not well oiled here. Since TV collects an activities fee and puts it to good use, would it not be feasible to collect a modest sinkhole fee based on square footage and use this as collective self - insurance for
damage that is not covered by the homeowners catastrophic clause? It doesn't seem that fraudulent claims should be an issue with you guys.

Hi Plantagenet,
Welcome to TOTV! This is an interesting idea, but don't really see the need as sinkhole coverage is available through our homeowners insurance.

[llaran]

There are no companies writing sink hole at this time.

[buzzy]

What are the benefits of a registration fee sticker?

Maybe priority parking in the squares?

[Bill-n-Brillo]

There are no companies writing sink hole at this time.

There are some who have posted recently saying that some companies are still writing sinkhole coverage.

Perhaps call Brightway Insurance in Jacksonville - (904) 646-1850. They represent around 90% of the companies who offer HO insurance coverage in FL. They can give you some pretty definitive feedback on it, I'd think.

Bill :)

[justanormalgirl]

Maybe priority parking in the squares?

We are allowed to drive golf carts in our town and we do have to have a sticker from the city. It costs $35.00 a year and you get one after they send someone to your home to inspect your cart to make sure you have all the required safety equipment, seatbelts, full windshield etc...

[CaptJohn]

Maybe priority parking in the squares?

And 2 reserved seats also! :laugh: :boxing2:

[Roaddog53]

you ever try to get blood out of turnip? that is what would be like getting that passed here,,, I think the next big pot of gold setting out there for the powers to be is a registration fee sticker for golf carts. To be honest is a great idea,, but folks will not go for it..

Now THAT is exactly what I think is going to happen very soon! With 50000 plus golf carts around someone in govt is going to say, gee in the county ( where Lake county is currently having issues with road funds) and soon others, they will say ... At even $20 per cart per year, gee we can get $1 million for road repairs or other infrastructure. WE don't HAVE to take funds away from schools, or other budget items... I new gold mine! Lol I am surprised it hasn't happened yet!! Oops now we started something...shhhhhh :shocked:

[socrafty]

There are some who have posted recently saying that some companies are still writing sinkhole coverage.

Perhaps call Brightway Insurance in Jacksonville - (904) 646-1850. They represent around 90% of the companies who offer HO insurance coverage in FL. They can give you some pretty definitive feedback on it, I'd think.

Bill :)

We purchased a home in April, north of 466A. Brightway Insurance in Gainesville was able to provide us with sinkhole coverage. There were a few companies quoted, some wanted an inspection, some not.

[plantagenet]

Thanks, it seems that coverage may be available under certain circumstances but not all. I will research some more. FYI community self insurance (AKA endowment) is in place in some local communities in PA. Case in point, a very nice CCC that is cash only (no Medicaid or subsidies) doesn't have sinkholes but they do occassionally have a resident that outlives their resources. The community has a golf tournament each year and voluntary donations that are placed in a fund that is monitored by a resident, an administrator and a director. Rather than throwing the resident to the wolves, the fund kicks in (assuming that the need is not due to waste) . They currently have about a million in the trust and a good time is had by all. But the community only has about 300 households so organizing it was relatively easy. Just thought that the concept was a good way of keeping independence alive regarding sinkholes. Pursuit of happiness :)

[keithwand]

We have our insurance including sinkhole through AAA.
Did not have it in Orlando but thought it might be a good idea here.

[Chuckw]

We are allowed to drive golf carts in our town and we do have to have a sticker from the city. It costs $35.00 a year and you get one after they send someone to your home to inspect your cart to make sure you have all the required safety equipment, seatbelts, full windshield etc...
Which town are you refering to? I know that there are several golf-car communities around but the only one I have heard of that requires registration is Peachtree City, Ga...

I don't believe that we have the authority to require golf car registration under the CDD form of government.

[GatorFan]

It is not true that companies in our area are not writing sinkhole coverage. If you pay a one time fee companies will do an inspection. If after inspection you qualify the company will add sinkhole coverage. The average sinkhole deductible is now 10% of your dwelling coverage. Example: home insured for $200,000, deductible $20,000. If a claim is filed for a sinkhole the expense to the company to conduct a test to determine if you have a valid sinkhole claim is not part of deductible but expense to the company. (usually $10,000 and up depending on size of your home)

[JC and John]

There are no companies writing sink hole at this time.

We bought sinkhole coverage with our homeowner's insurance back in April and we live south of 466a. Not sure why folks are saying you can't buy the insurance. That said, our agent did say that the insurance companies are lobbying the state of FL to make changes to insurance for sinkholes and once one company stops issuing the others will follow. Don't ask me the name of the insurance company (hubby would know). It is a company we never heard of and got it through the Villages Insurance broker.

[Bmorris111]

We are building in Sanibel and received a quote just this week from The Villages Insurance, underwritten by Ark Royal Insurance, which includes sinkhole coverage.

[jimbo2012]

It's not the level of sinkhole coverage you think it is, I called them earlier this week, it's only catastrophe.

I spoke to Beverly.