[Debfrommaine]

Talked to a few people who no longer carry sink hole insurance on their Homeowners Policy. They stated the catastrophic insurance is enough due to negative changes with sink hole cover past couple of years.

Do you have sink hole and catastrophic coverage?

[Chatbrat]

If your drive way collapses and it does't affect your house 's structure -you be have sinkhole insurance

[bagboy]

Check with your agent. It's my understanding that sinkhole insurance will only cover you if your home is affected and deemed inhabitable. With a sinkhole on your property that doesn't affect your home, you're on your own for the cost of repairs. We have sinkhole insurance with a ten percent deductible.

[aaffmom]

I have sinkhole coverage with $1000 deductible.

[Ralphy]

Originally Posted by aaffmom

I have sinkhole coverage with $1000 deductible.

Where did you get it from???

[coffeebean]

The cost of the coverage from The Villages insurance company is very expensive. The agent actually talked us out of carrying sink hole coverage. She said the home owner's policy which covers catastrophic coverage should be enough. Now I'm wondering about that!

[spuds51]

[What you are describing sounds like catastrophic ground collapse coverage which all homeowners have. Sinkhole coverage is a separate coverage and is very hard to get anymore. Your house has to be condemned before you can collect on catastrophic coverage.
It depends on where you live. If there has been any sinkhole activity, in so much distance, they won't write a sinkhole policy. I forget how far it has to be. Even then, your house has to be inspected and show no signs of foundation problems. Many people that have lived here for a long time still have sinkhole coverage. Most new residents can't get it.
If you have sinkhole coverage, and you have a sinkhole anywhere on your property, they will fix it but there is usually a large deductible.

I don't want to put information out there that is not correct. There have been some changes in the laws I have learned. One, the sinkhole has to affect the home itself, and not just a hole in the Yard or driveway. The second is they have made it easier to get it, (not guaranteed), but at least they'll talk to you. They wouldn't even consider it in 2013.

Limited Sinkhole Insurance Available for Florida Residents on July 2016 | Buchanan Ingersoll & Rooney PC - JDSupra






QUOTE=bagboy;1440625]Check with your agent. It's my understanding that sinkhole insurance will only cover you if your home is affected and deemed inhabitable. With a sinkhole on your property that doesn't affect your home, you're on your own for the cost of repairs. We have sinkhole insurance with a ten percent deductible.[/QUOTE]

[raynan]

In the current situation, the catastrophic coverage which everyone has, will cover if the house is uninhabitable. For Irma, FL was declared a disaster area which brings in FEMA. From what people on our street have been told (there are sink holes on our street) FEMA will cover what the catastrophic insurance will not cover because of the disaster declaration.

[aaffmom]

There are companies writing sinkhole coveragewith no inspection required. Tower Hill, Safe Harbor, State Farm and Allstate are the ones I know of. There are probably more. Call an agent to see if you can get a quote.

[ricthemic]

Originally Posted by spuds51

[what you are describing sounds like catastrophic ground collapse coverage which all homeowners have. Sinkhole coverage is a separate coverage and is very hard to get anymore. Your house has to be condemned before you can collect on catastrophic coverage.
It depends on where you live. If there has been any sinkhole activity, in so much distance, they won't write a sinkhole policy. I forget how far it has to be. Even then, your house has to be inspected and show no signs of foundation problems. Many people that have lived here for a long time still have sinkhole coverage. Most new residents can't get it.
If you have sinkhole coverage, and you have a sinkhole anywhere on your property, they will fix it but there is usually a large deductible.

As much as i love tv.... I don't think our houses in florida have foundations.




Quote=bagboy;1440625]check with your agent. It's my understanding that sinkhole insurance will only cover you if your home is affected and deemed inhabitable. With a sinkhole on your property that doesn't affect your home, you're on your own for the cost of repairs. We have sinkhole insurance with a ten percent deductible.

[/quote]

[Carla B]

Originally Posted by aaffmom

There are companies writing sinkhole coveragewith no inspection required. Tower Hill, Safe Harbor, State Farm and Allstate are the ones I know of. There are probably more. Call an agent to see if you can get a quote.

I thought State Farm and Allstate pulled out of Florida years ago as far as writing Homeowners' Insurance.

[Villageswimmer]

Originally Posted by Carla B

I thought State Farm and Allstate pulled out of Florida years ago as far as writing Homeowners' Insurance.

I think you're correct. I know State Farm is writing ho policies again because we just purchased one yesterday. They do require an inspection for sinkhole portion if the home is more than 6 months old. I don't see that as a big deal. Our cost is $23. State Farm pays the rest--whatever that is.

Seems like things in the insurance world change so rapidly it's hard to keep up. Best to call your agent and not make decisions based on board postings.

[rubicon]

Originally Posted by aaffmom

There are companies writing sinkhole coveragewith no inspection required. Tower Hill, Safe Harbor, State Farm and Allstate are the ones I know of. There are probably more. Call an agent to see if you can get a quote.

Unless they have changed policy State Farm would not write my sinkhole coverage without an inspection, an inspection they arranged with a company of their choice but which they made me pay. When it comes to insurance companies I hold my tongue because they always have the high ground...and I was an insurance guy

[rubicon]

Originally Posted by Carla B

I thought State Farm and Allstate pulled out of Florida years ago as far as writing Homeowners' Insurance.

Stay tuned it may be the case after the dust settles with hurricane Irma but for now they both do write here.
Let's hope Rick Scott who opened the door wide for insurance when he was first elected still has clout with them now?

[dewilson58]

Originally Posted by rubicon

Unless they have changed policy State Farm would not write my sinkhole coverage without an inspection, an inspection they arranged with a company of their choice but which they made me pay. When it comes to insurance companies I hold my tongue because they always have the high ground...and I was an insurance guy

These inspections..........$2k to $3k......costly, but In A Way, also another type of "insurance".