Current Florida law requires that insurance companies provide catastrophic ground collapse coverage that insures in the event a sinkhole abruptly forms as a visible hole at land surface under an insured structure and damages it based upon specific criteria defined by Florida Statute 627.706.
https://www.youtube.com/watch?v=gPc73oTSmBc
Contents
Are sinkholes covered by homeowners insurance in Florida?
Florida has more sinkholes than any other state in the nation.Not all homeowners’ policies provide coverage for damage to your home resulting from sinkholes. However, Florida law does require insurance companies to cover “catastrophic ground cover collapse.”
How much does sinkhole insurance cost in Florida?
Sinkhole insurance, like coverage for earthquakes, is often expensive. In some Florida counties with a history of sinkholes, sinkhole insurance may cost around $2,100 per year — more than the average homeowners insurance policy in the state.
Is sinkhole insurance worth it in Florida?
If you live in Florida or another area prone to sinkholes, then sinkhole insurance may be worthwhile — though expensive.Some Florida counties with a history of sinkholes have annual premiums of more than $2,100 for just sinkhole coverage. That’s more than the average homeowners insurance policy in the state of $1,991.
How does Florida prevent sinkholes?
During dry conditions, water tables drop in the limestone and cavities under Florida’s sand and clay soil.By keeping water tables high, water conservation rules and drought restrictions are tools to help prevent sinkholes from occurring.
What city in Florida has the most sinkholes?
This map of Florida shows multiple areas where sinkholes have been common in Florida. Tallahassee and most of Central Florida (Ocala, Homosassa, Spring Hill, Orlando, Tampa, and Lakeland) have been affected the most by these sinkholes.
Where do most of the sinkholes happen in Florida?
Sinkholes are particularly common in the Florida counties of Pasco, Hernando and Hillsborough—known collectively as the state’s “Sinkhole Alley.”
Does home insurance cover a sinkhole?
No, standard homeowners insurance will not cover sinkholes or any other so-called earth movements, like earthquakes and landslides. However, you may be able to add sinkhole coverage to your policy for an additional premium or purchase it separately.
Is it safe to buy a repaired sinkhole home?
In general, if a repair has been certified by a licensed engineer and completed to the satisfaction of the homeowner’s insurance company, it is likely safe. However, since these are natural systems, there can be no guarantees that a repaired sinkhole will not cause future problems.
How do you know if your house is on a sinkhole?
Some of the warning signs that can signify that there is a sinkhole include structural cracks in floors and walls, windows and doors that do not close properly and cloudy or muddy well water.
Does State Farm offer sinkhole insurance?
In most states, sinkholes are not covered by homeowner’s insurance policies from State Farm, the No. 1 home insurer in the country.Diggs says State Farm offers coverage for damage from sinkholes in only three states — Alabama, Florida and Pennsylvania.
How much does it cost to repair sinkholes?
A small sinkhole with minimal damage to the structure may cost anywhere from $10,000 to $15,000. However, sinkholes that cause extensive damage and need a significant amount of work to repair or revive the structure, may be much pricier, costing anywhere from $20,000 to $100,000, or more.
How much does a sinkhole inspection cost?
Testing for sinkholes comes at price
Unfortunately, the cost for a certified sinkhole inspection makes it difficult to pay for one unless absolutely necessary – a sinkhole investigation can run you $6,000-$8,000.
Is there any place in Florida safe from sinkholes?
Technically, no. The entire state of Florida is underlain with carbonate rocks, therefore, sinkholes could theoretically appear anywhere.The only way to ensure that you don’t purchase property that might be prone to sinkhole activity is to not buy property in a Karst region.
What is one way in Florida that they try to fix sinkholes forming under a house?
Compaction grouting is the only proven method of repairing a sinkhole and stabilizing the soil. The process involves drilling holes in the ground to access the underground cavities.
What county in Florida has the least amount of sinkholes?
VOLUSIA COUNTY
Fewer sinkholes are located on the east coast of Florida.
Does Ocala Florida have sinkholes?
Ocala sits in a part of Florida known as “sinkhole alley,” and it all has to do with what lies beneath. It’s a porous layer of limestone that groundwater can break down over time, causing the clay and dirt to give way and anything above to collapse.
When was the last sinkhole in Florida?
On July 14, 2017, a giant sinkhole appeared in Land ‘O Lakes, Florida, a community just north of Tampa in Pasco County. The sinkhole opened beneath a boat and was the size of a small swimming pool. That’s large enough to cause major concern. The sinkhole grew rapidly until it was over 200 feet wide.
How bad are sinkholes in Florida?
Serious sinkholes can destroy entire houses and even neighborhoods. But even when they’re not as severe, sinkhole depressions can cause a lot of problems for homeowners – cracks, plumbing problems, foundation problems, slab leaks and more.
How many deaths from sinkholes in Florida?
While thousands of Florida sinkholes have been reported in recent decades, Florida Geological Survey geologist Clint Kromhout told the Orlando Sentinel that there have been just four sinkhole deaths reported in the state.
Which state has the most sinkholes real estate?
Florida ranks highest in the nation for sinkhole risk since its primary land surface covers rocks (such as limestone, carbonate rock, and salt beds) that can be naturally dissolved by groundwater.
