Ponte Vedra Beach, Florida –

The commissioner, Mr. McCarty, of Florida recently recommended that the state starts a survey process that has all of the Florida homeowners insurance carriers in the state figure out what is going on with the sinkhole claim issue.  Sinkhole claims in Florida are on the rise and make up the largest non-catastrophic cost drives for the state.  Many of the carriers in Florida will not cover you for sinkholes if you aren’t in the coverage area.  Make sure you ask your homeowners insurance broker to see If this coverage is available for house. 

We know that the issue of these sinkhole claims are a major issue and are becoming more frequent.  Carriers are shelling out thousands of dollars to cover homes that are being hit with the sinkhole damage.  So many in fact, that a variety of carriers are being hit pretty hard these days and now do not offer this much needed line of coverage. 

The Florida Department of Insurance is letting the general public of Florida know that they do not have sufficient data to know if this is a huge problem or not, but are going to continue to get to the bottom of this issue.  We know that in the past few years that more sinkhole claims have been paid out than hurricane claims.  Many are wondering how that could be possible. 

In the event of a sinkhole claim, be sure to follow up with your carrier in an appropriate manner.  Many insurance carriers in Florida follow a variety of methods to check on sinkhole claims to determine the final damages that are to be paid.  You might see them send a scientist to study the severity of the damage before your claim is paid.  Make sure you are getting the full value of your claim when a sinkhole is the issue.  Learn more about sinkhole coverage in our Florida homeowners insurance glossary of terms.  Here you can review a variety of important aspects to you homeowners insurance policy.