Sinkhole inspection for sinkhole ins.?

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  #16  
Old 01-23-2020, 11:40 AM
Bonsai Golfer Bonsai Golfer is offline
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My sinkhole coverage on a $200,000 dwelling is $181 with US Coastal. No costly inspection was required. As with most sinkhole policies there is a 10% deductible. Flood coverage is $115 which, though not likely to be needed here in TVs, is a bargain compared to government coverage.

With regard to one poster questioning if the insurance is worth it given that $30,000 might be considered a total collapse, I would hate to find out the hard way that it might not. There are too many horror stories related to sinkholes in the area not to take the coverage. If you knew in advance that you might have a $100,000 loss requiring you to pay $30,000 but the insurance company would pay $70,000, would you quibble about a $300 premium?

Last edited by Bonsai Golfer; 01-23-2020 at 11:51 AM.
  #17  
Old 01-23-2020, 11:51 AM
Annie66 Annie66 is offline
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We changed over to Travelers Insurance which included sink hole coverage. It required an inspection. The gent walked around the inside and outside of the house and took pictures of the area above each window and door. It took about 10 minutes and was free of charge. Not a hassle at all.

Last edited by Annie66; 01-23-2020 at 11:57 AM.
  #18  
Old 01-23-2020, 11:53 AM
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billethkid billethkid is offline
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Sink hole inspection by State Farm less than $100... a walk around the outside of the house.
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  #19  
Old 01-23-2020, 12:44 PM
gatorbill1 gatorbill1 is offline
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Quote:
Originally Posted by gatorbill1 View Post
After getting e mails from Progressive to bundle my insurance I decided to call them. I have my auto ins with them and asked for a homeowners quote to bundle both. The quote was about $200 less than my current insurance company. When I said I was interested in hooking them up, the sales person said he needed to check with someone about adding sinkhole coverage (which I wanted). I was then told I would need to get a sinkhole inspection before they could provide the coverage. I have sinkhole now and always have for the last 10 years. Never needed an inspection before. Have been told the inspection could cost $5,000 to $10,000. Obviously I am staying with current company (Coastal). Any comments??
I have decided to stay with Progressive for auto and Coastal for homeowners. Sometimes it is better to not bundle, just add the two costs and it was a simple decision.
  #20  
Old 01-23-2020, 03:48 PM
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birdawg birdawg is offline
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Quote:
Originally Posted by Bonsai Golfer View Post
My sinkhole coverage on a $200,000 dwelling is $181 with US Coastal. No costly inspection was required. As with most sinkhole policies there is a 10% deductible. Flood coverage is $115 which, though not likely to be needed here in TVs, is a bargain compared to government coverage.

With regard to one poster questioning if the insurance is worth it given that $30,000 might be considered a total collapse, I would hate to find out the hard way that it might not. There are too many horror stories related to sinkholes in the area not to take the coverage. If you knew in advance that you might have a $100,000 loss requiring you to pay $30,000 but the insurance company would pay $70,000, would you quibble about a $300 premium?
Good point, Guess they got yah
  #21  
Old 01-24-2020, 01:25 AM
Quickdraw Quickdraw is offline
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Because of financial losses carriers suffered because of paying out sinkhole claims, they now mostly offer catastrophic ground collapse coverage, which is NOT sinkhole coverage. Some still offer real sinkhole coverage, but it is costly. You didn't say whether Progressive would pay for the inspection cost, but if they want you to pay for it, that is a deal killer, because you will not pass the inspection anyway virtually no one ever does.
  #22  
Old 01-24-2020, 04:48 AM
jswirs jswirs is offline
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Quote:
Originally Posted by gatorbill1 View Post
After getting e mails from Progressive to bundle my insurance I decided to call them. I have my auto ins with them and asked for a homeowners quote to bundle both. The quote was about $200 less than my current insurance company. When I said I was interested in hooking them up, the sales person said he needed to check with someone about adding sinkhole coverage (which I wanted). I was then told I would need to get a sinkhole inspection before they could provide the coverage. I have sinkhole now and always have for the last 10 years. Never needed an inspection before. Have been told the inspection could cost $5,000 to $10,000. Obviously I am staying with current company (Coastal). Any comments??
Sounds like some form of miscommunication. We had a sinkhole inspection, consisted of a walk through in and around the house. Took no more than 10 minutes, No charge.
  #23  
Old 01-24-2020, 11:11 PM
KRM0614 KRM0614 is offline
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I have my insurance with progressive and I have sewer and sinkhole coverage never been required to have an inspection. Please understand call centers do not train their people when you heat things that sound off call back ask for a supervisor. By the way the coverage is on my written policy bought house June 2019 my insurance is &436- a year and I have a direct phone number of progressive out of Ohio.
  #24  
Old 01-25-2020, 06:57 AM
Earlride Earlride is offline
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I just got a quote from Progressive - it was $500 more than what I am paying with GEICO
  #25  
Old 01-25-2020, 09:50 AM
capecoralbill capecoralbill is offline
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Quote:
Originally Posted by Quickdraw View Post
Because of financial losses carriers suffered because of paying out sinkhole claims, they now mostly offer catastrophic ground collapse coverage, which is NOT sinkhole coverage. Some still offer real sinkhole coverage, but it is costly. You didn't say whether Progressive would pay for the inspection cost, but if they want you to pay for it, that is a deal killer, because you will not pass the inspection anyway virtually no one ever does.
Sinkhole insurance that is currently offered by agencies here in The Villages will not cover sinkhole damage if the sinkhole is visible in your yard (or under your driveway) but does not cause damage to your home.
You have to ask the Insurance agent to show you the sheet of written details listing the 4 or 5 requirements that must be met before they will pay for fixing sinkhole damage. The agency has those lists (sent to them by the Insurance Companies) - the local agents will not normally show these lists to you unless you ask and pressure them to see them. That is what I discovered in mid 2017 after going to 3 agencies here! This problem has been with us since the State of Florida made changes to its insurance law in about 2012. The Developer should cover this, because he did not disclose this to us when we bought.
  #26  
Old 01-25-2020, 12:06 PM
gatorbill1 gatorbill1 is offline
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Quote:
Originally Posted by KRM0614 View Post
I have my insurance with progressive and I have sewer and sinkhole coverage never been required to have an inspection. Please understand call centers do not train their people when you heat things that sound off call back ask for a supervisor. By the way the coverage is on my written policy bought house June 2019 my insurance is &436- a year and I have a direct phone number of progressive out of Ohio.
I did call back and talked to a supervisor and was told it was all up to the underwriter, as they do not handle their own homeowners. Also said if I went through an ins agent they may be able to get around it, but it would be more $$ than I was quoted online. I am staying with Coastal for homeowners and Progressive for auto (where they do handle themselves).
  #27  
Old 01-25-2020, 04:48 PM
Alana33 Alana33 is offline
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Can't you investigate areas affected by sinkholes prior to purchasing your property?
  #28  
Old 01-26-2020, 11:18 AM
capecoralbill capecoralbill is offline
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I believe Marion county requires a notation in the Prop Assessors page of insurance settlements. Sumter county does not require this, as i am sure OUR developer was able to manipulate the Sumter county government to do whatever he desires. Here's a link to a property the Developer turned his back on:

MCPA Property Record Card
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