With many sinkholes popping up all across the state of Florida over the past few years, it is important to know if you are covered for this type of catastrophe. Many counties exclude sinkhole coverage from home insurance policies, but there is nothing to be nervous about. What many people do not know is that in every homeowner’s insurance policy there is a section called “catastrophic ground cover collapse”. This portion of one’s policy further explains that your home is covered when the ground cover abruptly collapses, when a depression in the ground cover is clearly visible to the naked eye, and when structural damage other than settling or cracking occurs. This is what most people consider the definition of a sinkhole.
“Sinkhole coverage” on a insurance policy only covers cracking and settling due to the weakening of the ground around the home. Most insurance companies are excluding the cracking and settling coverage in Florida.
For more information on “catastrophic ground cover collapse” and “sinkhole coverage” or to see if you are properly insured, please give us a call at (352)787-7548. An agent will be happy to assist you, answer any questions, or provide you with a FREE insurance quote.