Russ Thank you

A poster made mention of self-insuring for sink hole. Many states ahve made attempts to provide n insurance pool for their residents (auto, property) and inevitable it fails because it becomes too expensive. Repairing sink holes is a very expensive understaking and the reason why insurers are tightening up and raise premiums. They had a surge of sink hole claims in the Tampa/St Petersburg area.

Are cracked slabs only caused by sinkholes or can there be other reasons in this part of Florida for the slab to crack? If an insurance company looks at a crack do they automatically blame it on sinkholes?

I thought it was the nature of concrete slabs to eventually settle and suffer cracks. We had a house in Texas built on a slab that cracked due to a huge oak tree consuming massive amounts of water underground. It wasn't a sinkhole.

:agree: This is very true. Concrete cracks on it's own. That's why they put in expansion joints but that still won't stop them all.

Huh?
 

Great Capt-

I have a whole row of Oaks in my back yard! Maybe it good I'm at the bottom of the hill and water runs down to them?

Sinkhole Insurance Cost
 

I just added Sinkhole insurance to my home policy; an inspection was required (can't recall the cost) but the actual policy cost $156.

Sink holes
 

You best make sure you have sink hole insurance if you weren't aware of them here in The Villages. They happen mostly at the north end, but can pop up just about any place. Poof there goes your house.

:cus:

We just found out this week that our insurer (Security First) will no longer write sinkhole coverage in Marion County although they will continue to cover catastrophic ground collapse. In other words, when our homeowners policy comes up for renewal in March, it won't include sinkhole coverage. When I asked our agent about this, she stated that all eight companies she deals with are no longer providing sinkhole coverage for homes in Marion County because of extensive losses in the northern portion of the county.

Has anyone else run into this same issue? If so, has anyone found a solution?

So what's the difference between a sinkhole and ground collapse?

This should help explain the difference:

http://www.dep.state.fl.us/geology/g...khole_2008.pdf

Bill :)

pjolson: My Homeowner policy took big jumps for two consecutive years. I called and had a long conversation with the agent. I was told that while the rates went up I should consider that other insurance companies were going to raise their rates substantially higher and/or eliminate coverages. Sink holes are very costly to remediate. Additionally that is why there are two coverages sudden collapse and sink hole. Because a large part of that cost is the debate between homeowner and insurer as to whether the coverage was activated. Sudden collapse can only occur with a sink hole whereas with the latter there will be a dispute if cracks in the concrete are a result of sink hole or naturaly settling. There were a rash of claims submitted in the Tampa area that were not sink hole but it cost the insurance companies thousands to defend them.

Our governor has saw it fit t allow all insurers in the state raise their rates as needed because he is attempting to take pressure off of citizen Property and the states reinsurer. God bless our Governor. if this doesn't do it or if the state experiences some cat losses expect another round of increases

Capt John

See post #35 in this thread... The distinction between Sinkhole Loss and Catastrophic Ground Collapse is very significant. Everyone in this area should have SINKHOLE LOSS not just Catastrophic Ground Collapse.

Also PLEASE check your policy for there are 2 types of SINKHOLE coverage and its all about how they are defined. They are vastly different in both coverage and cost.

SINKHOLE LOSS....Gradual settlement or weaking of the earth supporting your property including structural damage to the building or foundation caused by gradual settlement. (THIS is the most common form of sinkhole loss in The VIllages and is the most expensive)Repairing the foundation of your home can easily cost you tens of thousands of dollars to fix it right and possibly in the 6 figures.

CATASTROPHIC Ground Cover Collapse....THis is also known as sinkhole insurance but it is the "ABRUPT" collapse of ground cover that requires a structure to be condemed and ordered to be vacated by government authorities. This does happen in The Villages but not as frequent as a gradual settlement.

Fast holes vs slow holes
 

Whoops! :ohdear: Thanks for the reminder. Somehow I missed that post. Must have jumped in a page after that or had one of those senior moments while quoting another post. :laugh: Thanks also to Bill for the link.

This is all great information every owner should be aware of.
This is all great information every owner should be aware of.
This is all great information every owner should be aware of.

So I guess boils down to 'when is a big hole in the ground not a big hole in the ground' or the subtitle 'Fast holes vs slow holes'!

Mandatory
 

Was not a option for us with The Villages or AAA insurance quotes/

It's going to be a $70 inspection fee and if we pass then we get both coverages on our homewoners.

I am happy to pay it for peace of mind. Especially the settlement part vs the HUGE hole question. I'm covered for both now.

My question is why does the Villages not test each lot before a sale? May be a problem in the future as less and less people will write for the coverage.

In our Tamarind Grove area AAA stated to us there is only one company writing a sink hole insurance policy at this time. There goes the competition.

Why doesn't The Villages test each lot before a sale?

Why do I think they would if they could? Maybe because over time geological conditions change with the shale and the water tables and all.

Who knew this is like California? Why do I think that The Villages would tell us if they knew?

What is wrong with me?

I refer you to the map of where they are and the explanation for why sink holes sink that I posted somewhere a while back.

There is also a big meteor out there somewhere. I wonder if someone knows that it is heading toward central Florida and that too is being kept from us.

I am going to find my beads. They are here somewhere. Maybe I didn't bring them.

Ummmmm.....lemme get back to you on that one.......

:jester:

Bill :wave:

That's it Bill. I am taking your present back. ;)

:cry:

Bill :wave:

What? Just because Bill is putting together a task force to provide you with a comprehensive answer? :ohdear:
(Dang, there goes my present too!) http://i279.photobucket.com/albums/k...aeini1/a29.gif

It was a Porche.

Unless you buy American.

Huh? I didn't know that Porches were available that could be added to houses in TV! :shrug:

Just asking.............

I would assume this is a yearly cost? $156 per year seems inexpensive.

Is this cost based on the price of a home?

For us wannabees. Wouldn't it be prudent to put this item on the list of inspections before buying a home?

Something from Sunday school kept nagging at me about where to build a house..

Luke 6:46-7:1

Unfortunately...this part of the world is SAND.

I looked back through our records for our H.O. insurance. Adding sinkhole coverage added 19% to our total premium cost this past year. Taking that into account, our total premium for this coming year has also increased an additional 17%. :eek:

Welcome to The Wonderful World of Homeowner's Insurance in FL!!

Bill :)

Position
 

Assume the position all -INCOMING!!!! The sinkhole fun is just starting.

This is an example of a reverse sink hole.
http://i264.photobucket.com/albums/i...lages/Sink.jpg

Same for me in Sumter county...........

Are there any lots available with 'catastrophic ground collapse'? I was thinking of building a home with a basement (hurricane shelter) or swimming pool.

Hello
 

Ahhhhhhhhh Hello Mr. Mtg company I'm stopping over today and giving you the keys to my previous home now a Hole.

Won' t be making any more payments for awhile. It will take you three years to close on the rubble.

Thanks so much for the non insurance coverage. It's all yours now!

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Thanks Admin
 

Appreciate your checking it out for us. I feel bad for those that had thery day ruined with a attack for what ever reason.

Never Fun! I know you Mac people are smiling.