[Maddie2009]

Hi All, I am shopping around for home policy since the renew is higher and I didn't have a chance to compare and shop when I got American Integrity.

An All State agent found Safe Harbor in Gainesville,Fl who will cover my house with 1 year old roof and wind mitigation report to include sinkhole. Deductible for sinkhole is 10% of dwelling, hurricane is $500, other deductible is $1000 for a ranch home for $645. Yes, this is not the catastrophic collapse, but sinkhole.

I heard it's not easy to find sinkhole coverage. I also like hurricane deductible only $500 v.s. 2% of dwelling.

The question is if the company is good, financially sound. They are rated by the same people who rate American Integrity (i currently have). Anyone knows about this company or have a policy with them?

Any comments, opinions and or advice/warning? Thanks

[kellyjam]

Interesting tidbit about sink hole coverage is that it only covers to the roof line. I wonder if The Villages would take care of the front or back yard and if so would they bill you?

[Maddie2009]

I think front and back yard belong to the home. Thus, any sinkholes on those areas the Villages will not take care of. As the agent explained, if the sinkhole or cracks effect the structure of the house, then it's covered with 10% of dwelling as deductible. The will cover sinkhole for homes with newer roof, said the agent.

[Bjeanj]

Safe Harbor Insurance has been rated by two companies, A.M. Best and Demotech. The purpose of insurance companies being rated is to help assess whether a company is financially able to pay claims as they are incurred. Info is below.

http://www3.ambest.com/ambv/bestnews...4&refnum=17576
Safe Harbor Insurance Company - Home

[784caroline]

Any insurance (Life, Car, Homeowners etc)is only as good as the financial backing of the company . If a major hurricane would hit Florida and Safe Harbor as most of its policies written in Florida, you need to consider if this company would be able to pay the claims or would it find all sorts of technical issues on why or how to deny your clam. Proceed carefully!!

[Misky1951]

Originally Posted by Maddie2009

Hi All, I am shopping around for home policy since the renew is higher and I didn't have a chance to compare and shop when I got American Integrity.

An All State agent found Safe Harbor in Gainesville,Fl who will cover my house with 1 year old roof and wind mitigation report to include sinkhole. Deductible for sinkhole is 10% of dwelling, hurricane is $500, other deductible is $1000 for a ranch home for $645. Yes, this is not the catastrophic collapse, but sinkhole.

I heard it's not easy to find sinkhole coverage. I also like hurricane deductible only $500 v.s. 2% of dwelling.

The question is if the company is good, financially sound. They are rated by the same people who rate American Integrity (i currently have). Anyone knows about this company or have a policy with them?

Any comments, opinions and or advice/warning? Thanks

I would recommend going to The Villages Insurance. I recently got the sinkhole coverage without an inspection. You might be able to save some money.

[Bogie Shooter]

Originally Posted by kellyjam

Interesting tidbit about sink hole coverage is that it only covers to the roof line. I wonder if The Villages would take care of the front or back yard and if so would they bill you?

Is the Villages in the insurance business??

[Bjeanj]

Kellyjam, it sounds like you’re mixing apples and oranges, or something. Why in heavens name would The Villages fix a sinkhole in your yard? You would be responsible for finding and paying a contractor for a sinkhole on your property. If your insurance policy doesn’t provide coverage for a sinkhole, then you are SOL, and that cost comes out of your pocket.

[kellyjam]

Originally Posted by Bjeanj

Kellyjam, it sounds like you’re mixing apples and oranges, or something. Why in heavens name would The Villages fix a sinkhole in your yard? You would be responsible for finding and paying a contractor for a sinkhole on your property. If your insurance policy doesn’t provide coverage for a sinkhole, then you are SOL, and that cost comes out of your pocket.

I say it because we had a sinkhole on our block in the Pinellas and the next day The Villages had trucks all over it filling it in. Wouldn't you think trying to sell homes in a neighborhood with a giant sinkhole on a property would kind of hurt sales?

[Maddie2009]

Originally Posted by 784caroline

Any insurance (Life, Car, Homeowners etc)is only as good as the financial backing of the company . If a major hurricane would hit Florida and Safe Harbor as most of its policies written in Florida, you need to consider if this company would be able to pay the claims or would it find all sorts of technical issues on why or how to deny your clam. Proceed carefully!!

I quite agree with the way you look at the exposure of the company. I got my first policy from The Villages Insurance. They found me a policy with American Integrity (AI) which now I see that they are a Tampa company and insure heavily in FL. The rating is the same as Safe Harbor. But, they will give me 2% of dwelling as hurricane deductible VS $500 from Safe Harbor. Also, AI did not and continue with no sinkhole coverage.

I don't know any non FL insurance companies offer insurance in FL. I am told USAA does not now. Safe Harbor offers in NC too. Just want to see if anyone has any experiences with Safe Harbor. Thank you for your input.

[graciegirl]

Originally Posted by Bjeanj

Kellyjam, it sounds like you’re mixing apples and oranges, or something. Why in heavens name would The Villages fix a sinkhole in your yard? You would be responsible for finding and paying a contractor for a sinkhole on your property. If your insurance policy doesn’t provide coverage for a sinkhole, then you are SOL, and that cost comes out of your pocket.

I'll say!!!!!

Another thing on the same subject; After all this rain, after quite a dry spell, is the time to expect sinkholes.

[Barefoot]

Originally Posted by kellyjam

Wouldn't you think trying to sell homes in a neighborhood with a giant sinkhole on a property would kind of hurt sales?

Valid point KJ.

[Retiring]

You would think a sinkhole next door would hurt sales, but you might be surprised. I have found that many people who come to TV really couldn’t care less about sinkholes. Some even have a fatalist attitude, if I die in a sinkhole - oh well.

Personally I would not buy near a known sinkhole because that tells me more about the sub surface condition than an area without a sinkhole. But to answer your question, would a SH hurt sales, I don’t think it would.

One woman had a serious snake problem. She lived near a pond and the snakes were of the venomous kind. She decided to sell, don’t know if she left TV. Problems selling the home? None. Don’t know if she disclosed the snake problem but she said there were a dozen yellow snake traps around her property.

There is a lot more to TV than the lot you live on. People move to the community for all the “extra” stuff, golf, pickleball, clubs, squares, etc. Some come to TV for the golf cart aspect.

SH insurance is a big deal to some and not to others. I’m a big believer in insurance. I still don’t think most TV residents understand the difference in SH coverage. Most believe they are covered for that SH in the backyard, sadly they will learn they are not covered. I would not by any coverage from an insurance company that writes most of their contracts in FL. One good storm and you are a creditor of a bankrupt insurance company. Happened to me in NY. However, lawyer says when the bankruptcy is complete the State fund will take over claims. I may see a fraction of my loss in approximately 10 yrs.

Caveat Emptor.

[Maddie2009]

Originally Posted by Retiring

You would think a sinkhole next door would hurt sales, but you might be surprised. I have found that many people who come to TV really couldn’t care less about sinkholes. Some even have a fatalist attitude, if I die in a sinkhole - oh well.

Personally I would not buy near a known sinkhole because that tells me more about the sub surface condition than an area without a sinkhole. But to answer your question, would a SH hurt sales, I don’t think it would.

One woman had a serious snake problem. She lived near a pond and the snakes were of the venomous kind. She decided to sell, don’t know if she left TV. Problems selling the home? None. Don’t know if she disclosed the snake problem but she said there were a dozen yellow snake traps around her property.

There is a lot more to TV than the lot you live on. People move to the community for all the “extra” stuff, golf, pickleball, clubs, squares, etc. Some come to TV for the golf cart aspect.

SH insurance is a big deal to some and not to others. I’m a big believer in insurance. I still don’t think most TV residents understand the difference in SH coverage. Most believe they are covered for that SH in the backyard, sadly they will learn they are not covered. I would not by any coverage from an insurance company that writes most of their contracts in FL. One good storm and you are a creditor of a bankrupt insurance company. Happened to me in NY. However, lawyer says when the bankruptcy is complete the State fund will take over claims. I may see a fraction of my loss in approximately 10 yrs.

Caveat Emptor.

Would you share who is your insurance company please. Thank you.

[Henryk]

Originally Posted by kellyjam

Interesting tidbit about sink hole coverage is that it only covers to the roof line. I wonder if The Villages would take care of the front or back yard and if so would they bill you?

I doubt very much TV would cover ANYTHING regarding "acts of God."