[tuccillo]

I believe you are spot on in your assessment. I think a "crowd funded approach" for individual cases could work - people donate money to help out on a case by case basis via a web interface.

Originally Posted by ColdNoMore

I hate to be the one throwing cold water on this idea...but I can't imagine how this might even work.

Will there be a board of some type that will make the determination...on who will get reimbursed for a claim?

And don't forget to ask for funds for a legal team also...including personal coverage for those who will be responsible for determining claims.

At some point, when someone is denied a claim (by whomever)...I'm pretty sure that they won't be happy.

IMHO, I don't see it as having a chance in heck of working.

[mgcsooner]

In principle the idea might work, but I believe have to be on a much much larger scale with risk mitigation of the "insured pool". For example if all members are in TV, they all share geographical proximity which does not help to mitigate risk. It might be possible to mitigate somewhat while still staying within Florida, however a single pool with four homes within 250 feet of each other or within 100 feet of a prior sinkhole might be considered a higher risk than four random homes not within 500 feet of each other. The problem you face probably needs actuaries to set risk probability levels, and insurance companies most likely to provide ranges of cost repair ranges and minimum amounts required to set aside, coverage options, fees, premiums and pool size minimums.

All in all, not something a few guys get together to put a little something in place for.

[Villageswimmer]

Originally Posted by aaffmom

There are companies writing sinkhole with some offering deductible as low as $500

Could you please tell us which companies?

[aaffmom]

Tower Hill, Safe Harbor and Allstate

[rubicon]

the logistic in starting a self funded insurance plan are enormous and complex requiring an understanding of the subject matter of coverage (actuarial stats as to frequency cost, etc) the legal ramifications, the adjusting the money management. Essentially you would have to write a policy more likely a comprehensive policy that had named exclusions. then you need a team of experts to adjudicate
etc etc etc

I have $200 ded sink hole coverage> It of course excludes he ubiquitous natural settling cracks. I am confident my insurer will with due diligence and dispatch adjust my claim honestly