Sinkholes Present Hazards to Florida Homeowners


Sinkholes are in the news again. 

This story is a recent reminder of the very real and ongoing hazard that sinkholes present to Florida homeowners.

Despite legislation introduced into the Florida Legislature in recent years designed to curb sinkhole claims, this geological phenomenon is not going to go away.

There are several things you can do to protect yourself and your family.

First, check your policy of insurance.  Make sure you have “Sinkhole Loss” coverage, which used to be automatically included in most policies but now must be elected by the insured.

And do not be fooled, while “Catastrophic Coverage” is always included, it will only provide coverage in the event of a sudden and total loss of your home.

And also check with your agent about your sinkhole deductible.

If you have Sinkhole Loss coverage but also a 10% deductible, you may want to inquire about getting a lower deductible, as that 10% comes off the top of Coverage A, your dwelling coverage, and so a modest $200,000.00 policy carries with it a hefty $20,000.00 deductible that you have to pay towards your own claim.

You may pay a higher premium but if needed you will be far better protected.

Next, make sure your local member of the state legislature knows you are paying attention.

An overhaul of the sinkhole statute in 2011 was tilted dramatically in favor of the insurance companies’ interests and not that of the consumer.

But eliminating or narrowing sinkhole coverage did not carry with it a diminution of Floridians’ homes being affected by sinkhole activity.

Let your local legislator know that you expect him or her to act in the constituents’ interests, not the insurance industry’s, and to reexamine the sinkhole statute to make sure it is truly providing meaningful protection for Florida’s citizens.

Click Here or Call us to schedule a free consultation 1-800-984-9951.  Let our team of dedicated  Sinkhole Attorneys answer your questions and help get your life back to normal.

Reference: News Talk Florida

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