Florida has more sinkholes than any other state in the nation. However, not all homeowners’ policies provide coverage for damage to buildings resulting from sinkholes. Florida law
only requires insurance companies to cover “catastrophic ground cover collapse.” This coverage requires a certain criteria be met, but generally is intended to protect against situations where a sinkhole collapse has already occurred.
Property owners may elect to purchase additional protection but this is usually an endorsement to an existing policy and costs additional premium. Insurance companies may require an inspection before extending sinkhole coverage. If problems exist on the property or within a certain distance of the property to be insured, the insurance company may decline to provide sinkhole coverage. Many properties may not qualify for sinkhole loss coverage.
If you are buying a home or looking to add the coverage on an existing property, it is important you speak with your insurance carrier or your agent to obtain more information. If your home experiences damage as a result of ground settlement or sinkhole activity, it it likely not covered by your standard Insurance Policy.
ROL has over twenty (20) years experience inspecting buildings to identify risk from potential sinkhole activity. Our inspectors are trained to document property and building conditions to assist in the underwriting review requirements of the insurance carrier.
Research is used to identify historical settlement or sinkhole activity at the property or other properties in the area. This research may be used as a basis for your property not being eligible for coverage.
We offer multiple payment options for the cost of the survey that is owed in advance of the inspection meeting. The fee is not refundable once the inspection is scheduled. The fee cannot be cancelled on the basis of failure to meet guidelines for acceptance of coverage.
A property insurance policy in Florida provides basic coverage for Catastrophic Ground Cover Collapse due to geological activity. This coverage is limited to specific situations as defined by Florida Statute 627.706 Sinkhole Insurance; Catastrophic Ground Cover Collapse; Definitions. Property Owners desiring additional protection for Sinkhole Loss may request a coverage endorsement for an additional premium. The carrier may require a sinkhole survey inspection before the coverage is provided. Properties may not qualify for the additional coverage based upon a variety of reasons such as condition of the building or property, location or evidence of prior damage. The policy may also include a higher deductible for sinkhole loss.
To get a free quote, or if you have questions or special requests, just drop us a line. We look forward to serving you!
Monday - Friday: 8:00am - 5:00pm
Saturday - Sunday: Closed
Payment for services must be provided in advance of inspection. Cancellations of inspections required with minimum notice 48 hours before inspection.