Looking for Insurance for a Home with Previous Sink Hole Activity

[exodusx187]

Hello, i am purchasing a home that has had previous sink hole activity... the original owners noticed cracks in the driveway and notified their insurance company (Allstate). engineers were contracted to come out, dig up the driveway and install concrete plugs to reinforce the drive way. i'm looking for suggestions on a company that will insure the home at a reasonable price. i understand the risks some companies don't want to take. at this time i've been quoted $1600/yr from Citizens but would like to know if there are any alternatives out there, or possible ways to bring down the costs. I'm set to close in a couple weeks so any help is appreciated. thanks

 

[FL P&C Broker]

Re: Looking for Insurance for a Home with Previous "sink Hole Act

Citizens will most likely be the only option with previous sinkhole activity. What county?

 

[exodusx187]

Re: Looking for Insurance for a Home with Previous "sink Hole Act

orange county. should i worry about being dropped from them? i don't want to purchase a home and 5 years later have the company "let me go".

 

[FL P&C Broker]

Re: Looking for Insurance for a Home with Previous "sink Hole Act

Well anybody could realistically drop you. Citizens is the insurance of last resort in Florida so they will not likely drop you unless you fail to meet the under writing guidelines.

 

[joshb]

Re: Looking for Insurance for a Home with Previous "sink Hole Act

Citizens is the only option. You won't qualify for sinkhole coverage with Citizens, but if your set on that house, thats all you have as an option.

 

[exodusx187]

Re: Looking for Insurance for a Home with Previous "sink Hole Activit

thanks for the replies. my bank does not require sinkhole coverage to finance the loan. but if citizens is my last resort, looks like i'll be going with them

 

[joshb]

Re: Looking for Insurance for a Home with Previous "sink Hole Activit

thanks for the replies. my bank does not require sinkhole coverage to finance the loan. but if citizens is my last resort, looks like i'll be going with them

Are you looking at a house in Winter Park? Across the street from a boat ramp? a friend of mine/co-worker looked at that house and he has the sinkhole inspection report for it. We have offices on both the east and west side of Orlando, and we may have actually insured that house too.

 

[Jack_Merton]

Re: Looking for Insurance for a Home with Previous "sink Hole Activit

My mother has a house that she has had for at least 40 years. Before my father died, they had a perpetual problem with a sinkhole area around their driveway. The problem was localized to one 6x8 foot area around the driveway and never showed any signs close to the house. Thankfully, their insurance company never dropped them, but I'm not sure they ever made a claim related to the problem. Will insurance companies typically drop you if they sniff out sinkhole problems?

 

[joshb]

Re: Looking for Insurance for a Home with Previous "sink Hole Activit

Its different in Florida. they probably would not drop you in Tennessee.

 

[exodusx187]

Re: Looking for Insurance for a Home with Previous "sink Hole Activit

Are you looking at a house in Winter Park? Across the street from a boat ramp? a friend of mine/co-worker looked at that house and he has the sinkhole inspection report for it. We have offices on both the east and west side of Orlando, and we may have actually insured that house too.

no the house is in Apopka