[Bill32]

Thank you

[Barefoot]

Originally Posted by VillagesFlorida

The insurance gal at Allstate told us the other day that no company is writing sinkhole coverage any longer on homes in Marion County. I wonder if those who have it now will have probelms getting their coverage renewed?

Our agent explained that sinkhole coverage has increased a lot in cost so we pay a higher policy rate for our renewal (Sumter County). We've been with this company for five years. He said that sinkhole coverage isn't available for new policies being written. I find this hard to believe.

[senior citizen]

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[graciegirl]

Originally Posted by senior citizen

I "hear you" however, in our town of 16,000 people, I'm fairly certain that our daily local newspaper would indeed write about a sinkhole swallowing up the front lawn, the porch, the backyard, the golf course, or God forbid, the house, even if it was a minor sinkhole. Now, I agree they might not cover a small thing like a power outage......but since we have volunteer firemen, they do cover a story of a clothes dryer in a home that catches on fire, etc.

It's news to some people I guess.

Again, it's nothing to lose sleep over, however, it is wise to be knowledgeable on the facts of sinkholes and those maps sort of tell the story (some areas are more vulnerable than others).

As far as getting coverage, from what I've been reading, it's near impossible to get sinkhole insurance coverage...which would mean the homeowner would lose their investment. Most people who sell their northern homes put down that "profit" onto the home in THE VILLAGES..........thus, they would lose their lifetime of equity from a fully paid up northern home.

It all boils down to.....how much is one willing to risk "if" the worse case scenario ever occurred. Only individual property owners & potential buyers know what they would do. Again, every area has "something" worth pondering..........and yet again, in some areas the good outweigh the bad.

It's all a personal preference.

Senior. You are jumping to the wrong conclusion. You can get coverage for sinkholes.

And the worse case scenario is on the horizon. We don't LIVE forever. I am taking my chances on falling into the earth here before I have to...say fall into the earth. An eventuality for all of us.

THIS part of Florida. This wonderful place. This terrific time is a safe bet for ME.

[VillagesFlorida]

Originally Posted by Barefoot

Our agent explained that sinkhole coverage has increased a lot in cost so we pay a higher policy rate for our renewal (Sumter County). We've been with this company for five years. He said that sinkhole coverage isn't available for new policies being written. I find this hard to believe.

Are you saying that you were informed that sinkhole coverage is no longer available in Sumter County? We are in the process of switching insurance companies and we are able to get sinkhole coverage. We live in Sumter County. I was told that very few insurance companies will insure for sinkhole loss.

[senior citizen]

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[KEVIN & JOSIE]

Originally Posted by senior citizen

We just both like to keep well informed. Actually, this morning we were looking at all the virtual tours of the newest model homes and loved them all.

Again, not losing sleep over the sinkholes. We've never been hasty to come to a final decision, preferring to do our research ahead of time.

We've always vacationed in Florida for the past 47 years of our marriage, but central Florida is a hidden gem for sure. Sinkholes or not.

We like the fact that TV is surrounded by lakes and horse farms and very very GREEN.........plus the home designs and prices can't be beat....again, we were very impressed with The Villages..........more so than we thought we might be. However, we still feel we should know everything about the area that there is to know. Common sense, no matter what our age.

ACTUALLY, we kept reminding each other that we have many options and should not rush into anything. Having owned many many homes in our lifetime and remodeled many of them, we want this final purchase to be just that.

Having lived in Florida twice before, in the early 1970's and again in the early 1990's, returning both times to Vermont.........we also have to decide do we want to move full time or just be snow birds. We have options.

We are constantly discussing it. Our plan at the moment is to take a long leisurely road trip and check out other areas on the way down to THE VILLAGES again........both seacoast and foothills of the Carolina mountains, etc.

Having JUST retired a year ago, we want to enjoy the journey before we put our present home on the market for sale in a not so great real estate climate up here..........so doing the research ahead of time is a "natural thing" for both of us. When the sinkhole controversy came up, it was very natural to do the research on it. I did read that scientific minds seem to think it is on the increase.

p.s. Every town has something worrisome or not so great about it; up here everyone has the right to free speech and to express an opinion or to question or look into things that might be negatives........we don't disallow other opinions if they question why Vermont has so many pot holes and frost heaves. We sold our last house to a Floridian who was just escaping Andrew back in 1994. It was a beautiful house; she compared it to a Florida house which it was not.........Florida doesn't have to deal with frost and sub zero temps. Anyway, I appreciated all the input about the sinkholes, maps and the difficulty in getting insurance for such and all the private messages as well on the subject. NOT EVERYTHING IS A JOKE IN LIFE. SOME PEOPLE DO NOT WANT TO LOSE THEIR ENTIRE INVESTMENT. THANKS.

My home equity is a lifetime of work and savings. To invest in a property only to be told that "maybe"you can insure, and get true full coverage of your assets, is not good enough for me. And to be told down the road as claims increase, that we will no longer cover you against loss, is not good enough. A red flag went up when I checked for homeowners insurance with all of the large companies, and found that none of them would write a policy in Florida. They would refer you to the smaller carriers. My current company, whom I've been with for 20 years, would not write a policy there. True, we will all die, and none of this will matter, but if a catostrophic loss happens in my senior years, it does matter!

[Posh 08]

Originally Posted by KEVIN & JOSIE

My home equity is a lifetime of work and savings. To invest in a property only to be told that "maybe"you can insure, and get true full coverage of your assets, is not good enough for me. And to be told down the road as claims increase, that we will no longer cover you against loss, is not good enough. A red flag went up when I checked for homeowners insurance with all of the large companies, and found that none of them would write a policy in Florida. They would refer you to the smaller carriers. My current company, whom I've been with for 20 years, would not write a policy there. True, we will all die, and none of this will matter, but if a catostrophic loss happens in my senior years, it does matter!

Miss Sam and I will have to look more into this before any more headway can be made.

[janmcn]

Originally Posted by KEVIN & JOSIE

My home equity is a lifetime of work and savings. To invest in a property only to be told that "maybe"you can insure, and get true full coverage of your assets, is not good enough for me. And to be told down the road as claims increase, that we will no longer cover you against loss, is not good enough. A red flag went up when I checked for homeowners insurance with all of the large companies, and found that none of them would write a policy in Florida. They would refer you to the smaller carriers. My current company, whom I've been with for 20 years, would not write a policy there. True, we will all die, and none of this will matter, but if a catostrophic loss happens in my senior years, it does matter!

This is why Citizens Insurance, the state run insurer of last resort was established and now has become the largest insurer in Florida. All the large insurance companies, State Farm, Nationwide, etc. stopped writing policies in the coastal counties within the last five years. Do you know when the last hurricane hit Tampa? 1921 That's right 90 years ago. The Villages has had more hurricanes than Tampa.

[Barefoot]

Originally Posted by VillagesFlorida

Are you saying that you were informed that sinkhole coverage is no longer available in Sumter County? We are in the process of switching insurance companies and we are able to get sinkhole coverage. We live in Sumter County. I was told that very few insurance companies will insure for sinkhole loss.

VF, I think we're basically saying the same thing. I was also told that very few insurance companies will insure for sinkhole loss, unless you are an existing customer. My Insurance Broker said we're better to stay with our existing company and pay the larger premium because it is very difficult to get sinkhole insurance for newbies. Of course this applies only to the companies with whom our Broker deals.

I'm sure it can't be impossible to get Sinkhole Coverage in Sumter County for newbies. Otherwise, how would they be selling a multitude of new homes? Also, in the case of purchasers requiring a mortgage, I'd think mortgage companies would require Sinkhole Coverage.

[Tickled_pink]

Would anyone out there be willing to give the name of your insurance company that DOES provide sink hole insurance besides Security First Ins that has already been mentioned?

[KEVIN & JOSIE]

Originally Posted by janmcn

This is why Citizens Insurance, the state run insurer of last resort was established and now has become the largest insurer in Florida. All the large insurance companies, State Farm, Nationwide, etc. stopped writing policies in the coastal counties within the last five years. Do you know when the last hurricane hit Tampa? 1921 That's right 90 years ago. The Villages has had more hurricanes than Tampa.

Some new info on Citizens Insurance.

Fla. House OKs alternative hurricane insurance - Florida Wires - MiamiHerald.com

[Advogado]

Here is a very good POA article on the subject: http://www.poa4us.org/bulletins_file...etin201105.pdf

However, since it is from last May, it may not be up to date on the availability of insurance coverage.

[Tickled_pink]

Originally Posted by Advogado

Here is a very good POA article on the subject: http://www.poa4us.org/bulletins_file...etin201105.pdf

However, since it is from last May, it may not be up to date on the availability of insurance coverage.

Thanks for the link Advogado.

[KEVIN & JOSIE]

Article on sinkhole protection costs could increase by 429% statewide.

Proposed sinkhole insurance rates likely will force people to drop coverage - Tampa Bay Times