Talk of The Villages Florida - Whats the point of discussing Sinkhole Insurance

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)

- The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)

- - Whats the point of discussing Sinkhole Insurance (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/whats-point-discussing-sinkhole-insurance-114231/)

If I lived in Oklahoma I would not need tornado insurance.It is covered under my home coverage.So why do we need sinkhole,flood and wind insurance? I call New York the "Tax State" and Florida the "Insurance State"

is sinkhole insurance required if u hav a mortage? i know u must have homeowners insurance

Thanks for the links.

Your homeowners policy must, by state law, include catastrophic ground collapse coverage. At that point, the house is condemned, declared uninhabitable, and the insurance pays for remediation. The bank's interest is covered. Sinkhole insurance would provide coverage if the home were not condemned, but rather the home or lot were damaged. Sinkhole insurance would then provide coverage less a 10% ( of the home's value) deductible.

Insurance Industry

Quote:

Originally Posted by Indydealmaker (Post 876513)

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.

:agree: I agree with your assessment that Florida Politicans "favored" the insurance companies. However, the electorate has a very short memory and 90% of elections are won by the Politicans with the most money to spend.

The Insurance Industry has a very big $$$$$$ lobby----enough to make a difference in a close election. Besides, negative ads appear to really work and if you got the money you can win----deserving or not.

The good news is there are term limits in Florida. (not meaning to be political)

A little music Maestro CLICK HERE