Is sinkhole coverage expensive?

I received a letter from my home owners insurance company last week stating that Florida residents (who have a mortgage, at least) are now required to carry sinkhole coverage.  This will be added to my policy on the next renewal.

Anyone currently have sinkhole coverage?

boards of FL wrote:I received a letter from my home owners insurance company last week stating that Florida residents (who have a mortgage, at least) are now required to carry sinkhole coverage.  This will be added to my policy on the next renewal.

Anyone currently have sinkhole coverage?

Probably.

When Iowa had that major flood in 2008, our insurance company tried to make us believe our property was in the middle of a newly reclassified flood plain.  They were going to automatically attach flood insurance to our policy in the tune of $1000 per year.  We had to pay a surveyor $500 to come out and map our elevation to prove we were not in the new flood plain.  A lot of our neighbors just bowed their heads and paid for the insurance.  I told them Fuck You!

boards of FL wrote:I received a letter from my home owners insurance company last week stating that Florida residents (who have a mortgage, at least) are now required to carry sinkhole coverage.  This will be added to my policy on the next renewal.

Anyone currently have sinkhole coverage?

It's part of my policy as a "no cost" rider however in the event of a claim there is a 10% deductible. That could hurt.....

Read your current policy BOF, it's always been included with mine but only up to a certain amount and yes I pay a little extra for it, also a high deductible.

You know I just also remembered that there were companies in Florida that were taking sinkhole coverage out of their policies. You better check that out with the Office of Insurance regulation 1 800 342-2762 and ask them if that is on the up and up.