Sinkhole insurance cost.
 

Sinkholes in yards or fields are one thing, but a sinkhole under your house/foundation could be financially catastrophic without insurance.

My question isnt if I need it or not, my question is what is the range $$$ of sinkhole insurance in The Villages.

Thanks for being kind in advance.. Will

With Progressive, I pay about $145 per year for sinkhole insurance on a courtyard villa, with a deductible of 10 percent of the house value. Note that sinkhole insurance only covers damage to the house. It does not cover damage to anything else. This is typical coverage.

I got a quote from the Villages insurance. About $350 more for sinkhole with a $32,000 deductible!

I may call progressive.

Check your broker but I think Fl requires that if a sink hole makes your home uninhabitable it is covered by your homeowners insurance without any additional premium. If the sink hole is in your yard it is your problem and you can add a rider to your policy to cover this. My guess is that sink holes happen close to ponds so you might investigate this also.

All Florida insurance policies must cover catastrophic ground collapse that will cover damage to your house only if the house is condemned and deemed uninhabitable by the local government. You can buy an optional rider that is called "sinkhole" coverage. Sinkhole insurance will cover damage to your house even if it is not condemned. However, the sinkhole rider will only cover damage to your house. It will not cover any damage to your yard, driveway, sidewalks, fences, or anything else that is not part of your house. I have sinkhole coverage, and that is what my policy says. The typical sinkhole rider does not cover damage that a sinkhole causes in your yard, unless the damage is to the primary structure, which is your house.

My last quote through Villages/Spinnaker was for just over $500 with a 10% deductible - $43000. State Farm quotes theirs differently but they have become more picky for new business - 2021 home or newer.