I have ASI and it appears they significantly raised their rates somewhere around last May (plus or minus a month or two). For example, my renewal was for August and insurance went up somewhere around 20%, mostly due to sinkhole and "approved" rate increases. All the folks complaining about rate increases now are catching up to last year's approved rate hike.

It'll be interesting to see what happens to those coming up on this next year of renewals (i.e. after May'ish) to see there is another significant rate hike or other changes in sinkhole coverage.

Someone asked earlier, and never got a good answer.... for folks who have recently closed on new homes in Sanibel or St James...what has been your experience in obtaining sinkhole coverage as part of your HO insurance?

Has the Cane Garden sinkhole been repaired yet?

I was by there two weeks ago and they had repaired the underground and had filled the hole. They had not repaired the house porch or garage yet. I would guess they need to wait until the concrete they injected under the home has had a chance to cure. Probably takes 8 to 10 days for that. Looks like they will return it to as good as new. Probably better then other homes right around it now.

Bought my home in the Villages from the Villages with mortgage by the Villages (i.e. Citizens First) with home insurance by the Villages.
So if it disappears into a sinkhole, I'll let the Villages worry about it.

I like it Zoner, I like it. :eclipsee_gold_cup:

:a20: :a20: :a20: :bowdown:

Ours (ASI) went up 31.9% due mid May 2012. Have to start winning some more bass tournaments.

Rates
 

If they get crazy and raise the insurance rate next year I'm with you.

We just got our homeowner's insurance through AAA. We were told that we just made the deadline before significant changes would take place in FL regarding sinkhole insurance coverage. (We close April 12, changes take place April 15.) The change would be in the deductible for the sinkhole insurance. Presently, it is 1,000. After the 15th the deductible will increase to 10% of purchase price. (sinkhole claims only.) We still have to get an inspection of the property before they will issue the insurance so I am hoping we pass!

Thanks for the update. I was just curious how long it takes to correct the damage.

Sink Hole Insurance Inspection
 

We have homeowners through The Villages. When I called to add sink hole coverage, I was told we would have to have an inspection which costs $140. And I think the lady said, hardly anyone passes the inspection. She was right. We had a hairline crack (what stucco houses doesn't have a hairline crack?) and were turned down. This is all due to new rules approved by Florida legislature.

We need a crystal ball
 

This is getting serious. Insurance rates going up, deductable increasing. The shifting sands will be our demise of our future .We need a crystal ball.

Cane Garden was not a sinkhole claim. It was classified as catastrophic ground collapse which is included in policies.

What is the technical difference between a sinkhole and a catastrophic ground collapse?

See post #36 in this thread.

Bill :)