A homeowner/borrower with a lender-placed policy may file a sinkhole claim. However, it is important to understand that there are significant differences between a lender-placed policy and a standard homeowners insurance policy.
If you begin grouting your home and itâ€™s determined that additional repairs beyond the grout are necessary, your home insurance company will likely still have to pay for those repairs, even if they cost more than your policy limits allotted by your home insurance company.
When filling out an insurance application, your sole responsibility is to answer the questions they ask honestly, but that doesnâ€™t mean you have to volunteer information not specifically asked.
With most sinkhole losses being gradual in nature, it would be expected that the losses would occur over multiple coverage periods, and potentially multiple companies. This post tells you how to handle sinkhole damage over time.
If your home insurance company denies your sinkhole claim, there is an appeals process in place, called a Neutral Evaluation Program.
If your insurance company is withholding payment for sinkhole repairs until after the repairs have been done, you have options.
We had a prior sinkhole investigation performed for a sinkhole claim, and the expert determined that there were only cosmetic cracks present on the house and there was no way to determine whether they were related to the sinkhole. The engineering firm recommended grouting and this was done. Now three years later, we are trying…