[kstew43]

when the 10% wipes out your savings, you can't sell your home due to its reputation, the VCD come after you to pay your back fees, and the city wants its taxes you can't afford to pay......then tell them to go play golf.....

sorry.....mean but true.....

[Indydealmaker]

Originally Posted by kstew43

when the 10% wipes out your savings, you can't sell your home due to its reputation, the VCD come after you to pay your back fees, and the city wants its taxes you can't afford to pay......then tell them to go play golf.....

sorry.....mean but true.....

My point is that if that scenario is yours, you had an opportunity to avoid it by buying in a non-sinkhole, non-tornado, non-earthquake, non-flood, non-hurricane totally hazard-free are...if you could find it. Otherwise, it is what it is. Why fret?

[Buffalo Jim]

Anyone know the true " odds " of a sink-hole opening under a given home ?
My guess would be it would be about the same Odds as winning the Power-Ball Lottery in any given year .

[Barefoot]

Originally Posted by Buffalo Jim

Anyone know the true " odds " of a sink-hole opening under a given home ?
My guess would be it would be about the same Odds as winning the Power-Ball Lottery in any given year .

When a sinkhole happens close to someone's home, of course it's a nightmare.
No downplaying that. There are emotional and financial impacts for them, and probably also for their neighbors.

However there are so many things we can worry about in life that never happen.
We can worry about being hit by lightning or being attacked by a bear,
or we can hope to win the Lottery.
But in real life, these things rarely happen.

FGS - Frequently Asked Questions

What is the sinkhole risk factor associated with my area?

Unfortunately there is no ready reference on sinkhole prediction or risk assessment. The insurance companies have tried developing risk prediction methodology, but since the underground cavities are largely undetectable without expensive ground-penetrating radar surveys, resistivity tests, or test drilling, little real progress towards this goal has been made. In recent years, at least one geotechnical company has developed a fee-based risk assessment registry based on an extensive private database of known sinkholes and local geologic conditions, which it provides to insurers. Some Florida insurance companies now utilize this registry for assisting in determining the sinkhole risk in specific areas.

[Big O]

Originally Posted by Barefoot

I agree.
We can worry about being hit by lightning or being attached by a bear,
or we can hope to win the Lottery.
But in real life, these things rarely happen.

FGS - Frequently Asked Questions

What is the sinkhole risk factor associated with my area?

Unfortunately there is no ready reference on sinkhole prediction or risk assessment. The insurance companies have tried developing risk prediction methodology, but since the underground cavities are largely undetectable without expensive ground-penetrating radar surveys, resistivity tests, or test drilling, little real progress towards this goal has been made. In recent years, at least one geotechnical company has developed a fee-based risk assessment registry based on an extensive private database of known sinkholes and local geologic conditions, which it provides to insurers. Some Florida insurance companies now utilize this registry for assisting in determining the sinkhole risk in specific areas.

The point is that all of this information is available now to anyone who chooses to look for it. The fact that insurance companies have chosen to treat it differently is not the fault of the developer. If you want to live in The Villages, or anywhere else in Florida, it is your own responsibility to do the leg work.

[asianthree]

so far i have not seen a statue of a saint to bury in my yard to ward off a sinkhole..so off to golf we go..don't worry about things you can not change

[784caroline]

Originally Posted by asianthree

..so off to golf we go..don't worry about things you can not change

[perrjojo]

Actually I see no point in it. We can discuss it til the cows come home and it makes no difference. If you have a concern, call an insurance agent and get FACTS, NOT OPINIONS.

[Villageshooter]

the facts are insurance companies are in the business to make money and they are starting to charge a whole lot more for there product for a reason!

[EnglishJW]

Originally Posted by Indydealmaker

If you did not know about sinkholes and you made an uninformed decision to build a home in a sinkhole prone area (approximately 40% of the U.S.) then it is on you.

When I read this I was very surprised at your figure of 40% so I did just a bit of research and found this on the U.S. Geological Survey site:

"Areas prone to collapse sinkholes
The map below shows areas of the United States where certain rock types that are susceptible to dissolution in water occur. In these areas the formation of underground cavities can form and catastrophic sinkholes can happen. These rock types are evaporites (salt, gypsum, and anhydrite) and carbonates (limestone and dolomite). Evaporite rocks underlie about 35 to 40 percent of the United States, though in many areas they are buried at great depths."

I, for one, certainly didn't know that.

[Xavier]

Originally Posted by EnglishJW

When I read this I was very surprised at your figure of 40% so I did just a bit of research and found this on the U.S. Geological Survey site:

"Areas prone to collapse sinkholes
The map below shows areas of the United States where certain rock types that are susceptible to dissolution in water occur. In these areas the formation of underground cavities can form and catastrophic sinkholes can happen. These rock types are evaporites (salt, gypsum, and anhydrite) and carbonates (limestone and dolomite). Evaporite rocks underlie about 35 to 40 percent of the United States, though in many areas they are buried at great depths."

I, for one, certainly didn't know that.

See, you can learn so much from the informed posters on TOTV. There are many of them here. Unfortunately, not everyone qualify. Be aware that a very few trolls, wing-nuts, and some in need of professional help have been known to sneak in every once in a while.

Xavier

[TVMayor]

Posted: 4:35 p.m. Monday, Aug. 12, 2013
Action 9 breaks down Florida sinkhole insurance coverage

ORLANDO, Fla. —

Despite big changes to sinkhole insurance, the kind of destruction caused by Lake County's Summer Bay resort collapse is still covered, according to Action 9's Todd Ulrich.

Far more homeowners have sinkholes that don't destroy property but still cause extensive damage.

A catastrophic collapse is now the only sinkhole damage now fully covered in Florida since the legislature approved sweeping insurance changes last year.

Under the new law, there must by an abrupt land collapse, structural damage and a condemned property.

Insurance experts told Action 9 Summer Bay's policy should cover the company's loss and prevent special assessments against timeshare owners.

But for traditional homeowners, many sinkhole claims are now nightmares.

At Sheryl Smith's Marion County home, the foundation cracked wide open, doors would not close and walls split from ceilings, but her insurance claim was turned down despite an engineering report that identified catastrophic failure.

Many insurance adjustors said the new law gives insurance companies an easy way to deny, delay and limit claims.

"They will fight you on the methods of repair so they can keep it cheap and the cosmetics above ground," said Smith.

Smith said she was tired of fighting and agreed to a settlement that left her with a $70,000 loss she blames on the sinkhole and Florida's new insurance rules.

"It should be covered or why have it?" she said.

The law was changed because the state found contractors and adjustors abused coverage for minor repairs.

Florida does have a mediation program to review sinkhole claim denials.

Action 9 breaks down Florida sinkhole insurance coverage | www.wftv.com

[Indydealmaker]

Originally Posted by TVMayor

Action 9 breaks down Florida sinkhole insurance coverage | www.wftv.com

I don't think that there is any question anymore that the state of Florida has let the insurance industry run roughshod over all of us. Under the guise of trying to control fraud, the state has changed insurance regs in such a manner that this state' insureds pay through the nose for flawed coverage. The insurance industry needs to be forced to investigate fraud instead of conning the state into legislating safety nets on their behalf.

The next governor of Florida could win by a landslide if he promised insurance reform.

[Villageshooter]

Originally Posted by Indydealmaker

I don't think that there is any question anymore that the state of Florida has let the insurance industry run roughshod over all of us. Under the guise of trying to control fraud, the state has changed insurance regs in such a manner that this state' insureds pay through the nose for flawed coverage. The insurance industry needs to be forced to investigate fraud instead of conning the state into legislating safety nets on their behalf.

The next governor of Florida could win by a landslide if he promised insurance reform.

more smokescreen ,, the facts are we have lots of sinkholes and the insurance companies are no longer going to shell out millions for claims without a huge increase in premiums to offset the costs!

[redwitch]

I don't think the OP's issue is sinkholes per se. I think the issue is that OP was told that sinkhole insurance would be available but was unable to get it.

Unfortunately, I doubt there is much you can do about what you were told. One, it is a he said/she said scenario. Two, there is sinkhole insurance available but the cost is high and covers little. From the little details given by OP, it doesn't sound like a flat out lie but maybe some hyperbole or an agent without quite all the facts.

One thing we all need to remember is that Florida is very pro business, especially big business. This means that the consumer must be very well informed.