Displaying posts tagged with

“hernando county florida sinkhole laws”

Apr
27
2010

Renew Your Sinkhole Insurance Coverage

In order to maintain it, the insured must notify the insurance company at the time of renewal. If you are like most insureds, you do not pour over your renewal notices, merely to determine if the insurance is the same as before. While moving from standard sinkhole coverage to catastrophic coverage will save you on premium, it will be a catastrophic loss if your home has a sinkhole. In order for this new coverage to be of any value, it must cause you home to become so badly damaged that it be condemned.

Apr
21
2010

Changes in Sinkhole Laws Impacting Policyholder Rights – Part 2

The problem with the new bill is that it then places a huge monkey on the back of a policyholder. Specifically, if you, as a homeowner, want to dispute the findings of the original engineering firm, you can hire your own expert. Even if your expert does more advance testing, provides a more cohesive explanation for the damage, the insurance company gets the benefit of the doubt.

Apr
21
2010

Changes in Sinkhole Laws Impacting Policyholder Rights – Part 1

The pending bill on this issue, House Bill 447 would strip this from the law, and permit insurance companies and the engineering firms they retain to determine how your home is fixed. Instead of requiring some form of input from you, the insurance company need only “provide notice” to you regarding how the home will be repaired. This process removes the homeowner from being provided an opportunity to select the methods to be used in repairing the home.