Double-check your sinkhole insurance coverage
Attorney Morgan Barfield of the Barfield Law Group recently provided an in-depth interview to a local Ocala newspaper, the Star Banner. You can read the full article in the insert below.
The article focused primarily on the changes in sinkhole laws the past several years and how sinkhole insurance coverage is no longer mandatory but now is an optional coverage. The article encourages homeowners to not take the less expensive road and run the risk of homeownership in Florida (especially Ocala) without sinkhole coverage.
“This is a good warning to not only Ocala residents but all homeowners in Florida who live in a high risk area for sinkhole damage”, stated attorney Morgan Barfield in a follow up interview.
Many Ocala residents are still surprised to hear about the large scale sinkhole activity in their area and are not aware that the laws have changed or their own policies have been modified to comply with the new laws.
Barfield Law Group encourages each homeowner to review their current sinkhole policy and make sure it is up to date with the coverage best to protect their home investment.
Be informed of what catastrophic coverage is
As we have written many times, it is of crucial importance that homeowners be up-to-date on the quality of their sinkhole coverage, lest their policy be reduced only to catastrophic coverage without their consent.
When this occurs, one’s insurance policy is only required to foot the bill if they judge your home as unhabitable; if this is not the case, you are left on your own to deal with the effects of your sinkhole, when it comes to both your safety of your family and the property value of your home.