[Rwirish]

No brainer, you get the coverage.

[Michael 61]

Originally Posted by retiredguy123

When I tried to do that, I found that most of the so called "agents" I asked either did not know the answer, or worse, they pretended they did and they got it totally wrong. You really need to do your own research online. Insurance agents are just salespeople. They do not represent the insurance company and they will not put anything in writing.

Agree - I’m a retired insurance claims manager. Many insurance sales agents have little or no knowledge of all the terms/conditions/definitions/exclusions in the policy they are selling. Your sales agent is not a claims adjuster.

It was always heart breaking when I had to deny a claim because there was no coverage for a particular peril or there was a policy exclusion that the policy holder was unaware of, and it was never properly disclosed or discussed by the sales agent at the time the policy was purchased.

People, you have to research this stuff yourself, and read your insurance policies in detail - especially the declarations page and the applicable exclusions. Do not depend solely on the verbal explanation by your sales agent.

If your claim is ever denied because of a policy exclusion, and your rebuttal is “My Sales Agent told me otherwise”, that defense will not fly.

[goneil2024]

I suggest those interested in sinkhole occurrences in Florida (Statewide) consult the Florida Office of Insurance Regulation (OIR). Also, a quick search using AI tool [ChatGBT] revealed that according to the “Insurance Journal” between from 2006 to 2010 that there were 24,671 both open and closed sinkhole claims reported [Online reference accessed 6.14.2025, in “Insurance Journal” 11/12/2010; ]Report Confirms Florida Sinkhole Insurance Woes are Deep, Spreading.

Recent data may be more difficult to obtain, likely consider FOIA request to the DOI as an option. However, as noted by others in this thread there are requirements, regulations and costs. Also, for those that are so inclined there is quite a lot of information available wrt, regulations, coverage and causes.

As with most property issues the occurrences tend to be location specific with some areas experiencing more occurrences. In our specific case the insurer evaluated our location in TV (WatersEdge) and determined it was low risk and included the coverage with our homeowners policy.

[hollyrich2]

Like all insurance, the coverage you choose must meet your individual needs. I’m an insurance agent and we do not have a carrier that will offer sinkhole coverage. It’s very costly and if a carrier offers it they require you to pay for an inspection with no guarantee of coverage. It’s been my experience no one is approved. Catastrophic ground collapse is included in every homeowner policy. If you’d like a quote without this coverage, please contact me 954-437-9220 ext. 308 or email hrichardson4@allstate.com. We’re an award winning Allstate Agency. I can provide quotes from several Allstate partners and have helped many people save money in The Villages. Thank you, Holly Richardson.

[retiredguy123]

Originally Posted by hollyrich2

Like all insurance, the coverage you choose must meet your individual needs. I’m an insurance agent and we do not have a carrier that will offer sinkhole coverage. It’s very costly and if a carrier offers it they require you to pay for an inspection with no guarantee of coverage. It’s been my experience no one is approved. Catastrophic ground collapse is included in every homeowner policy. If you’d like a quote without this coverage, please contact me 954-437-9220 ext. 308 or email hrichardson4@allstate.com. We’re an award winning Allstate Agency. I can provide quotes from several Allstate partners and have helped many people save money in The Villages. Thank you, Holly Richardson.

Regarding your statement that sinkhole coverage is very costly, I have sinkhole coverage on my Progressive homeowner's policy. The total annual premium is $1,202. The sinkhole portion of the premium is $138, or about 11 percent of the total premium. The deductible is $26,900, which is 10 percent of the dwelling value. Note that I have had sinkhole coverage since the house was new, and I have never been required to get an inspection.

[Villager24]

It’s a personal risk management decision, but I chose to get it when we bought. I don’t recall it being excessively expensive. It seems like there was something about if I didn’t get it when I initially purchased homeowners insurance and decided to add it later it would be higher, but that could have been a sales technique. We used The Villages Insurance (now The Baldwin Group).

[Rocksnap]

My $240 annually for an over half a million home isn’t bad.

[jrref]

Originally Posted by retiredguy123

Regarding your statement that sinkhole coverage is very costly, I have sinkhole coverage on my Progressive homeowner's policy. The total annual premium is $1,202. The sinkhole portion of the premium is $138, or about 11 percent of the total premium. The deductible is $26,900, which is 10 percent of the dwelling value. Note that I have had sinkhole coverage since the house was new, and I have never been required to get an inspection.

Doesn't the very low cost tell you something? It says there is an extreemly low risk to the insurance company or the premium would be way higher. In your case the $138 is good for peace of mind but otherewise it's probably a waste of money unless you know for sure you are living in an area that is prone to sink holes.

[jrref]

Let's ask the question a different way:

Has anyone who lives in the Villages had sink hole damage where the sink hole insurance covered it?

No Catastrophic Ground Collapse, but separate sink hole insurance.

[retiredguy123]

Originally Posted by jrref

Doesn't the very low cost tell you something? It says there is an extreemly low risk to the insurance company or the premium would be way higher. In your case the $138 is good for peace of mind but otherewise it's probably a waste of money unless you know for sure you are living in an area that is prone to sink holes.

I agree, but I also pay about $240 per year for collision and comprehensive coverage on my car that is only worth $10,000. I would probably drop that coverage before I dropped the sinkhole coverage. But, unlike many people, I always evaluate the cost of insurance, and, if I think it is getting too high, I will drop it. If my homeowner's insurance gets too high, I will cancel it and self-insure my house.

[TCULBERSON]

occurred

[Babbs1957]

There was a STICKY back in 2015 that was kept updated. Search sinkhole map, 1/2 down you will see it started by VillagerFrog58.

[Ptmcbriz]

Like any insurance, if you can afford to repair or rebuild out of your savings account then I guess it’s an optional insurance for you. If you can’t, then you need the insurance. We have State Farm and don’t think it is expensive.

[CarlR33]

Originally Posted by Rocksnap

My $240 annually for an over half a million home isn’t bad.

LOL, I would be interested in the policy coverage and deductible for that cost.

[sowtime444]

Back in 2015 someone figured out that all sinkholes in The Villages were less than 84 feet in elevation.

Plotted where Villages sinkholes have occurred

For all the people saying that "all sinkholes in The Villages have been catastrophic collapse and therefore covered" is not true. Someone in the north near Nancy Lopez didn't have a catastrophic collapse a year ago.

What I was told is that everyone on that retention pond suspects the Villages-owned pipes, but The Villages wouldn't let the pipes be inspected.