Sinkholes pose a significant threat to Florida homeowners. A new law allows private insurance companies to cut sinkhole coverage in order to lower premium prices.<\/p>\n
Due to Florida\u2019s unique geology, sinkholes form here more often than in any other state in the US, and many of these sinkholes are located near the I-4 corridor in Central Florida. Because of this distinctive situation, Florida homeowners should consider electing sinkhole coverage when purchasing new policies or adding coverage to their existing policies. Failure to do so may result in a significant financial burden and overwhelming personal loss.<\/p>\n
A new Florida law, effective January 1, 2010, allows private insurers to drop some portions of sinkhole coverage in order to cut the cost of premiums. It is Mandatory that ALL \u201cAdmitted insurance companies selling homeowners insurance in Florida offer customers catastrophic ground cover collapse coverage. Catastrophic ground cover collapse coverage will protect a homeowner in the event (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Sinkholes pose a significant threat to Florida homeowners. A new law allows private insurance companies to cut sinkhole coverage in order to lower premium prices. Due to Florida\u2019s unique geology, sinkholes form here more often than in any other state…<\/span><\/p>\n