Sinkhole inspection for sinkhole ins.?
 

After getting e mails from Progressive to bundle my insurance I decided to call them. I have my auto ins with them and asked for a homeowners quote to bundle both. The quote was about $200 less than my current insurance company. When I said I was interested in hooking them up, the sales person said he needed to check with someone about adding sinkhole coverage (which I wanted). I was then told I would need to get a sinkhole inspection before they could provide the coverage. I have sinkhole now and always have for the last 10 years. Never needed an inspection before. Have been told the inspection could cost $5,000 to $10,000. Obviously I am staying with current company (Coastal). Any comments??

Get bundle quote from AAA.

AAA was a lot more $$ every time I checked them

We had a inspection a couple of years ago, it was a walk around the outside of the house taking pictures, NO cost.

I have Progressive through The Villages insurance, no problem with them and no inspection. I have tried several other companies to compare apples to apples rates and no one even comes close so I'm sticking with The Villages, no need to look further.

I switched last May from American Integrity to the company you want to leave, Coastal Insurance. I had been with AI for 8 years and my premiums had gone from $505 in 2011 to $985 last spring. The Villages Insurance transferred me to Coastal for only $575 for sink hole and catastrophic collapse, no inspection. I would stay with Coastal if I were you.

i

I think I will.
The Progressive salesperson said underwriting makes all the decisions, and their decision is final even though it changes from day to day, I am very happy with Progressive for auto so thought I would try them for house. Coastal is OK with me also.

There are sinkhole inspections and there are sinkhole inspections. As villagetinker said, the insurance company inspection is usually a walk around at no cost to you.

A geological survey will run $7-10k and is an entirely different animal. I was going to have it done till I was advised by couple RE agents, it may not be a good idea.

not with Progressive for sinkhole

An ambassador at Lopez told me they are not allowed to use the S word. They have been instructed to refer to sinkholes as depressions. My response is that people are depressed who have sinkholes open up near their house.

Do they have sink hole coverage?

Awesome! :thumbup:


.

Sinkhole Insurance
 

Smart move! I am a Villager. However, I have been in the insurance claims business in FL for over 30 years and have never heard of Coastal. Is that an offshoot of Citizens? Buying homeowner insurance in FL should always come from an AM Best rated company with aa rating no less than A. Premium cost should not be a consideration. You often get what you pay for.

We have State Farm. Our sinkhole inspection was a walk around and cost $23. Going to have a requote with The Villages Insurance soon. Only chose them because it was easier last year to just ‘transfer’ from home. We’re newbies.

My home's assessment is 3 hundred thousand so I have to pay the first 30 thousand, if the house is not a catastrophic collapse. My thinking is if I have 30 thousand worth of damage the house would be considered a catastrophic collapse. So do you think the extra insurance is needed.

My sinkhole coverage on a $200,000 dwelling is $181 with US Coastal. No costly inspection was required. As with most sinkhole policies there is a 10% deductible. Flood coverage is $115 which, though not likely to be needed here in TVs, is a bargain compared to government coverage.

With regard to one poster questioning if the insurance is worth it given that $30,000 might be considered a total collapse, I would hate to find out the hard way that it might not. There are too many horror stories related to sinkholes in the area not to take the coverage. If you knew in advance that you might have a $100,000 loss requiring you to pay $30,000 but the insurance company would pay $70,000, would you quibble about a $300 premium?

We changed over to Travelers Insurance which included sink hole coverage. It required an inspection. The gent walked around the inside and outside of the house and took pictures of the area above each window and door. It took about 10 minutes and was free of charge. Not a hassle at all.

Sink hole inspection by State Farm less than $100... a walk around the outside of the house.

I have decided to stay with Progressive for auto and Coastal for homeowners. Sometimes it is better to not bundle, just add the two costs and it was a simple decision.

Good point, Guess they got yah

Because of financial losses carriers suffered because of paying out sinkhole claims, they now mostly offer catastrophic ground collapse coverage, which is NOT sinkhole coverage. Some still offer real sinkhole coverage, but it is costly. You didn't say whether Progressive would pay for the inspection cost, but if they want you to pay for it, that is a deal killer, because you will not pass the inspection anyway virtually no one ever does.

Sounds like some form of miscommunication. We had a sinkhole inspection, consisted of a walk through in and around the house. Took no more than 10 minutes, No charge.

I have my insurance with progressive and I have sewer and sinkhole coverage never been required to have an inspection. Please understand call centers do not train their people when you heat things that sound off call back ask for a supervisor. By the way the coverage is on my written policy bought house June 2019 my insurance is &436- a year and I have a direct phone number of progressive out of Ohio.

I just got a quote from Progressive - it was $500 more than what I am paying with GEICO

Sinkhole insurance that is currently offered by agencies here in The Villages will not cover sinkhole damage if the sinkhole is visible in your yard (or under your driveway) but does not cause damage to your home.
You have to ask the Insurance agent to show you the sheet of written details listing the 4 or 5 requirements that must be met before they will pay for fixing sinkhole damage. The agency has those lists (sent to them by the Insurance Companies) - the local agents will not normally show these lists to you unless you ask and pressure them to see them. That is what I discovered in mid 2017 after going to 3 agencies here! This problem has been with us since the State of Florida made changes to its insurance law in about 2012. The Developer should cover this, because he did not disclose this to us when we bought.

I did call back and talked to a supervisor and was told it was all up to the underwriter, as they do not handle their own homeowners. Also said if I went through an ins agent they may be able to get around it, but it would be more $$ than I was quoted online. I am staying with Coastal for homeowners and Progressive for auto (where they do handle themselves).

Can't you investigate areas affected by sinkholes prior to purchasing your property?

I believe Marion county requires a notation in the Prop Assessors page of insurance settlements. Sumter county does not require this, as i am sure OUR developer was able to manipulate the Sumter county government to do whatever he desires. Here's a link to a property the Developer turned his back on:

MCPA Property Record Card