[wondr1]

When I recently asked what was the value for catastrophic loss on my property insurance, I was informed I had no Catastrophic loss coverage. I did decline sinkhole coverage at the time I initiated the policy, but there was no mention of no catastrophic loss provisions in the initial policy.
Per 2009 Florida Statute 627.706 ;
(1) Every insurer authorized to transact property insurance in this state shall provide coverage for a catastrophic ground cover collapse and shall make available, for an appropriate additional premium, coverage for sinkhole losses on any structure, including contents of personal property contained therein, to the extent provided in the form to which the coverage attaches.
Insurers offering policies that exclude coverage for sinkhole losses shall inform policyholders in bold type of not less than 14 points as follows: "YOUR POLICY PROVIDES COVERAGE FOR A CATASTROPHIC GROUND COVER COLLAPSE THAT RESULTS IN THE PROPERTY BEING CONDEMNED AND UNINHABITABLE. OTHERWISE, YOUR POLICY DOES NOT PROVIDE COVERAGE FOR SINKHOLE LOSSES. YOU MAY PURCHASE ADDITIONAL COVERAGE FOR SINKHOLE LOSSES FOR AN ADDITIONAL PREMIUM."
I was informed by my insurance agent that catastrophic loss and sinkhole insurance are the same, yet according to FL Law, it would appear they are two different items as it relates to insurance coverage. I was told I could apply for additional coverage (sinkhole) when my policy renewed in 3/13 and I would have to pay for an inspection of the property 30 days prior in order to get “sinkhole” coverage. I would really want the catastrophic coverage immediately, but apparently that is not an option. I have no sinkhole or foundation problems with the house which was purchased in 03/12. Your advice?

[Hunt Law Firm]

I am sorry, I do not practice in this area. The law in this area is constantly evolving due to the overwhelming number of claims that have been brought in recent years. I have working relationships with attorney’s that do practice in this area. Please give me a call if you would like for me to refer you t them and make an introduction.

[Moderator]

The expert has answered that this is not his area. The OP can contact the expert to get a reference.