[Carlsondm]

Originally Posted by bsloan1960

Just wondering if these are a real threat. They significantly increase the premium.

Thanks

As with floods, there are sinkhole maps and geological data. We are in a low risk area for both right now and did not add either.

[rjm1cc]

If you are not in a floodplain, the sloop of the land around your home is good, I would skip flood insurance. I would also skip sink hole if you can afford the repairs.

[GATORBILL66]

[QUOTE=bsloan1960;2109526]Just wondering if these are a real threat. They significantly increase the premium.

Thanks
I have sink hole insurance and hurricane insurance. Got a great deal from Allstate through the Bascom agency in The Villages. It was so much cheaper than the Villages insurance company.

[BlueStarAirlines]

Originally Posted by jrref

As far as flood insurance, if you live south of 466A the storm water management system here in the Villages makes the chance of you getting a flood very low. You can look at the FEMA maps to see how much your specific home is as risk and then make the assessment.

Does the FEMA maps ever get updated? When I look it shows 2013 as the last update for my new village. Because my contract for the new house has the line that I am in a flood zone, my mortgage company is requiring that I get it.

I'm okay with getting it if it is really required, but it just seems like all these decisions are based on somewhat dated information. Is a flood zone in 2013 still a flood zone in 2022 when the entire area has literally been changed?

[retiredguy123]

Originally Posted by BlueStarAirlines

Does the FEMA maps ever get updated? When I look it shows 2013 as the last update for my new village. Because my contract for the new house has the line that I am in a flood zone, my mortgage company is requiring that I get it.

I'm okay with getting it if it is really required, but it just seems like all these decisions are based on somewhat dated information. Is a flood zone in 2013 still a flood zone in 2022 when the entire area has literally been changed?

Flood plain maps are always in the process of being updated. But, usually, new house construction will not improve the chance that your house will no longer be in the flood zone, unless there has been some type of flood prevention project constructed in the area.

[BlueStarAirlines]

Originally Posted by retiredguy123

Flood plain maps are always in the process of being updated. But, usually, new house construction will not improve the chance that your house will no longer be in the flood zone, unless there has been some type of flood prevention project constructed in the area.

Thanks! I appreciate the info!

[Worldseries27]

Originally Posted by asianthree

wicked witch of the east didn’t make it when a house fell on her at ground level.
Your whole house falling on you at 25’ at any age and surviving is still a wish. But ya got to go sometime, might as well be remembered for the guy that died from his house falling in a sink hole.

ladies first

[Stu from NYC]

Originally Posted by asianthree

Wicked Witch of the East didn’t make it when a house fell on her at ground level.
Your whole house falling on you at 25’ at any age and surviving is still a wish. but ya got to go sometime, might as well be remembered for the guy that died from his house falling in a sink hole.

Can we settle for 12 1/2 feet?

[GatorFan]

Originally Posted by Bill14564

Sinkhole yes. I've heard there are two types of policies, one for damage and another for destruction, but I don't know which I have.

Flood no. Given the area I live in and the landscape around I can't imagine water rising enough to enter my house.

Cat ground must be sudden, abrupt, immediate damage and home can still be livable. Example, sinkhole open on corner of home where garage is located. Home was not condemned. Cat ground would not pay. Insured had sinkhole. Claim was $50,000 and sinkhole paid less $1000 deductible.

Sinkhole, home does not have to be condemned, does not have to be sudden and abrupt. Sinkhole can open across street, in front yard, grow and then damage home. Home does not have to be condemned.

Buy sinkhole coverage if available. Some companies offer deductible as low as $500.00. Others offer 10% of your dwelling coverage deductible.

[Blueblaze]

Originally Posted by retiredguy123

All homeowners policies in Florida must include "catastrophic ground collapse" coverage. That coverage will only apply if your house is damaged and it is condemned and deemed uninhabitable by the local Government. Also, some insurance companies may offer an optional "sinkhole" coverage that will cover any damage to your property caused by a sinkhole. If you can get the sinkhole coverage, it is probably a good idea, but not all properties are eligible.

Flood insurance is a Federal Government subsidized insurance program for damage caused by rising water. In my opinion, flood insurance is not needed in The Villages. But, it is a good idea to get an optional rider to your homeowners insurance that will cover damage from a sewer line backup.

Well,that's the theory, anyway. When American Integrity renewed the policy on my rental this year, in addition to hiking my rate 20% and eliminating all coverage for my roof except in the case of a named storm, they also quietly removed my catastrophic sinkhole coverage.

But I guess I should be grateful. Absolutely no other company in the Florida insurance cartel would sell me a policy, even when I offered to exclude the roof. And, of course, none of the real insurance companies that do business nationally will even write a landlord policy in Florida, including USAA, which has insured my primary home in multiple states for decades without a single claim.

[Southwest737]

No to either. Waste of money. Just like home and car warranties.

[jimkerr]

No to flood insurance. We added the sinkhole coverage and it wasn’t expensive at all.

[Hifred]

Originally Posted by Travelhunter123

I have them too. I believe Allstate has extensive sinkhole and hurricane coverage with standard deductible on the sinkhole

We have Allstate. Sink hole is covered at standard deductible. Quick question with the cost of houses increasing and the cost of construction increasing has anyone upped their homeowner's recently? Not to sound like The ************** (LOL) but we bought our home in 2019 for $385,000 which I thought is ridiculously high but now the same home in my neighborhood recently sold for almost $599,000 and we have a golf cart garage and they didn't. So do we need to call the insurance provider and ask them to revalue our home. I would hate to have a lightning strike and not have adequate coverage.

[retiredguy123]

Originally Posted by Hifred

We have Allstate. Sink hole is covered at standard deductible. Quick question with the cost of houses increasing and the cost of construction increasing has anyone upped their homeowner's recently? Not to sound like The ************** (LOL) but we bought our home in 2019 for $385,000 which I thought is ridiculously high but now the same home in my neighborhood recently sold for almost $599,000 and we have a golf cart garage and they didn't. So do we need to call the insurance provider and ask them to revalue our home. I would hate to have a lightning strike and not have adequate coverage.

I think that most insurance policies cover replacement value. In that case, it is the insurance company that increases the covered amount when you renew the policy. But, if you have actual value coverage, you would need to make sure that you have enough coverage to replace your house.

[Catalina36]

Originally Posted by JudyLife

We have sinkhole with Cabrillo, not that much extra in price on our policy. No to flood due to our location.

I just received my renewal with Cabrillo / Safe Harbor Insurance. My sinkhole coverage is now $774 a year??? My H.O. Insurance went up over $900 this renewal to $2410.00.
Note: I have No Claims.