Is it my understanding that some homeowners here do not have Sinkhole Insurance? I know when I purchased my home- ASI insurance offered me sinkhole coverage, but at a 10% deductible for the amount insured on my house.

Was this insurance offered to some homes and not others??? I am feeling very sorry for the two homes mostly impacted in Buttonwood and now Mallory. The cost of the one deductible 21,000+/- ....and now seeing Buttonwood problem might not be fixed?

ssmith...Don't forget the 9 wild boars they hunted down and killed over on the Heron golf course last week and the water moccasins on hole #9 on Jacaranda golf course. I'd still live nowhere else. Love it here.

Sinkhole insurance is not usually offered on preowned

So other than a catastrophic event that would be covered by your homeowners policy, the owner of a pre-owned home would bear 100% of the costs associated with any repairs/damage due to sinkholes?

My advice to you. Since you have concerns about insurance, you should call an insurance representative here in Florida. You are only going to get opinions from the posters. Some may be right others will relate what they heard on the 19th hole.
An Internet search can give you phone numbers of local insurance reps.

Remember the sink hole that swallowed the corvette museum in Kentucky or Tenn? We are really no different than any other place in the USA.

It is my personal opinion I have equal risk with sink hole, lightning, tornados. All three have destroyed houses in TV. If I lived on the ocean beach erosion could claps my house in one storm. At another home I owned in FL my home suffered accumulative damage from 3 hurricanes before the insurance adjuster got to my house for a total of $62,000 damage. I can avoid ocean damage, mud slides, avalanches and maybe just maybe earth quakes. Another option would be a house in Detroit, low cost $10,000/$20,000.

I think that the sales pitch would be that we've already had a sink hole and it has been repaired and the ground is now stable. The odds against having another one on this property are astronomical. In fact there might be more of a risk in buying a home that's never had a sink hole.

Insurance is certainly an issue with sinkholes. Most have a substantial investment in their homes and insurance companies can be difficult to deal with.

I feel really bad for those dealing with sinkholes in TV right now. They could use our concerns and our prayers.

Where I was raised we had "mine subsidence", another form of sinkhole. The school I went to had to be closed due to mine subsidence. The so called "experts" said it was ok to build back in the same place and guess what? It fell in again!

Lawsuits were filed and it was several years before it was settled. The school was finally built on property about a mile or so away.

Now, would be a good time to check insurance policies. Maybe there needs to be some legislation passed regarding insurance and sinkholes. Something to research.

Sinkhole has expanded....www.**************.com

************** website today...

I am sure the value of the home near the sinkhole in TV is affected. How would you feel if you had to make that claim against your insurance. Once you make that claim to them, you are going to be uninsurable to 99% of the company's in Florida. That's why when you make a claim for that you want it to be for the worst case. Even if you make a claim on the sinkhole coverage and its not for a total loss, you will still face the same situation. That is why the extra for sinkhole coverage might not be worth it. Because you want to do what ever you can not report a claim, like I said unless its worse case. Once you do it hurts your chances at getting home coverage in the future and also anyone who ever buys the house too. That will drop the value

Someone asked if sinkholes can be found anywhere else.

Here is proof that it isn't a regional problem. This is the SE corner of Minnesota.


Finding Minnesota: The Sinkhole Capital Of The U.S. « CBS Minnesota

ATL news
 

FYI only: On the Atlanta morning TV news about the Villages sink hole.

Said the limestone under ground is deteriorating more rapidly than in the past. (or something like that as I really wasn't listening however I was amazed seeing the hole in the ground).

The question was, would you buy a home that has had a sinkhole such as this one. I would not, because there are so many homes in the Villages to buy, why buy one that has had a significant sinkhole repaired. I am hoping the Villages out of kindness will relocate these two families, demolish the homes affected and plant some bushes and plants on the lots. I don't think the owners will ever be able to sell these homes.