Representative Bryan Nelson has sponsored House Bill 1447, which seeks â€” among other things â€” to limit sinkhole insurance coverage to 25 percent of the limits provided for in policy.
Sinkhole activity isnâ€™t limited to areas in Florida with high limestone levels, like Pasco and Hernando counties. You may find yourself in a situation where you are presenting minimal evidence of sinkhole activity, but the claim has to be paid because the engineering firm cannot determine the cause of the damage with any reasonable degree of specificity.
Although State Farm is staying in Florida, its insureds will be looking at probable rate increases.
The State of Florida keeps rather detailed data on all reported sinkhole claims and several governmental entities have used that data to create maps exhibiting the most prominent areas for sinkhole claims. The Florida Geological Survey provides a Florida sinkhole map (PDF).
In looking for signs of sinkhole damage, grout cracks should be evaluated.
Tweet Breaking News: Hudson Sinkhole Collapse Shows Mother Nature”™s Power Hudson, Florida is not unfamiliar to the impact of sinkhole activity. This particular area records frequent and severe sinkhole activity throughout its residential and commercial areas. Today, however, one of the largest sinkholes in recent past presented itself in the in the form of a [...]