Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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I would get sink hole coverage for the peace of mind. Simple as that--
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#17
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Quote:
There is also a distinct difference in FL between "Catastrophic Ground Collapse" and "Sinkhole" insurance. What happened to the people near Tampa is Catastrophic Ground Collapse & that IS a part of all FL homeowner's policies. "Sinkhole" insurance is different and covers (ed) less dynamic problems. For example..There is a major sinkhole down your street, but it does not make your home unliveable. However..it does cause some cracks in your walls or your concrete blocks. Catastrophic Ground will NOT cover those damages. "Sinkhole" insurance will (or would). Currently in FL most insurance underwriters are now discontinuing the "Sinkhole" riders when in-force policies renew. Our agent at Villages Insurance told us about how many people locally came howling to the office when they found this out when their policies renewed in 2012. There will be more of that in 2013, and even more in 2014. Soon it will be gone all together. But remember..we're talking about "sinkhole" not "Catastrophic Ground Collapse". That's still in EVERY FL homeowner's policy. In moving to Florida I learned more about "Sinkhole" insurance than I ever wanted to know. And I didn't learn it by rumor & speculation, I had our Villages Insurance agent go over it all step by step. If you want "sinkhole" in FL you're very unlikely to get it. It's just the way it is.
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"I did not get into rock-n-roll just to pick up chicks. However..I was able to adapt". Ted Nugent |
#18
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And keep an eye on the Florida Legislature when they begin their annual session on Tuesday. They promise to take up property insurance, and everytime they do, it seems the consumer always loses.
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#19
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isn't that scary!
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Connie Sterling, IL; Hunter's Creek, Orlando, FL; The Villages |
#20
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Please read Rubicon's post below. It makes a lot of sense.
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It is better to laugh than to cry. Last edited by graciegirl; 03-03-2013 at 11:37 AM. |
#21
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Did insurer's go overboard in the amount of premium increases and deductible amounts???? Only your actuary really knows. |
#22
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bump
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#23
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Quote:
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"I did not get into rock-n-roll just to pick up chicks. However..I was able to adapt". Ted Nugent |
#24
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Every home insurance policy in the state of FL is covered for this subject to your regular homeowners deductible. The house is condemned or not livable while being fixed. Sinkhole insurance is for the holes under the earth that we do not see, the home can be lived in while being fixed. This is subject to a special deductible, typically 10% now, but some insurance companies just don't cover it. Also it is not because homeowners put false claims in to the insurance companies, but the sinkhole companies that scared homeowners into putting in a claim. This happened right here in TV!!! One villa had some settling issues and they did find voids under the home, but of course there are voids all over Florida in the limestone. The sinkhole company was brought in by the insurance company and while they were in the neighborhood. The spoke to other neighbors, who suddenly then felt the need to call their own insurance company. Now most of the homes in the villa community have had sinkhole work done. They didn't really have any issues in the first plaice, but they and hundreds of other claims are the reason why the verbiage on the policies have changed (must have damage to the home). This and all the others are the reason why we either don't have the coverage or we have to pay 10% deduct. I have done my homework on this, have purchased one of the homes and was able to get insurance and a mortgage. |
#25
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Is this in TV?
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Closed Thread |
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