Homeowner with Sinkhole Exposure

[bill777]

I had a client today that she has a 2006 year built house but she knows her area has sinkholes but she doesn't know if her house is sitting on a sinkhole, i contacted my company and they said if the customer knows her area has sinkholes we can't insure him at all, if she doesn't know i can insure her. I ask how can i find out if a client doesn't know they told me i have to go by their word, they don't have a way to find out.
So if my client lies he gets insurance if he says the truth he gets nothing lol!

 

[Guest]

sinkhole is earth movement isnt it? I wouldnt think there would any coverage for that

 

[joshb]

Florida is unique with the sinkhole "problems" we are having. Write him a policy with another company without sinkhole coverage and Catastrophic Ground Cover Collapse only. Right now the only company in our county even writing sinkhole coverage is Universal and that is changing April 1st. On April 1st, they are no longer offering that coverage in Polk County either, and they may non-renew that coverage like every other company is doing. Don't worry about it too much just write it elsewhere.

Also, our area doesn't have true sinkholes, its public adjusters and lawyers advertising to consumers that they can file a sinkhole claim and get them money. Thats all it is, not true sinkholes.
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RBA, Florida is unique with our situation, sinkhole coverage is a serious problem here, and most carriers no longer offer it. If they do now, they won't be soon, as the States OIR dept. no longer requires carriers to offer the coverage.

 

[bill777]

Florida is unique with the sinkhole "problems" we are having. Write him a policy with another company without sinkhole coverage and Catastrophic Ground Cover Collapse only. Right now the only company in our county even writing sinkhole coverage is Universal and that is changing April 1st. On April 1st, they are no longer offering that coverage in Polk County either, and they may non-renew that coverage like every other company is doing. Don't worry about it too much just write it elsewhere.

Also, our area doesn't have true sinkholes, its public adjusters and lawyers advertising to consumers that they can file a sinkhole claim and get them money. Thats all it is, not true sinkholes.
- - - - - - - - - - - - - - - - - -
RBA, Florida is unique with our situation, sinkhole coverage is a serious problem here, and most carriers no longer offer it. If they do now, they won't be soon, as the States OIR dept. no longer requires carriers to offer the coverage.

Thank you so much for this post.