I was denied homeowners insurance?
Saturday, February 6th, 2010 at
1:03 am
Soni asked:
I was denied homeowners insurance because there is a sinkhole within one half mile of my home. What can I do?
I was denied homeowners insurance because there is a sinkhole within one half mile of my home. What can I do?
Tagged with: Insurance • Insurance Homeowners • Sinkhole
Filed under: Homeowners Insurance
Like this post? Subscribe to my RSS feed and get loads more!
Currently, an insurance company has the right to not issue an insurance policy on the basis of sinkholes in the “area.” The definition of “area” remains subjective, and the issue will likely only be resolved through specific legislation or by the general adoption of a standard by the insurance industry. Some companies have more liberal policies, and you may wish to shop around for other insurance that may be available.
You’ll probaby end up having to get coverage through the state FAIR plan. Go talk to your agent, and see if you can get state coverage.
Contact the Department of Insurance in your state for help.
If your in CA you can take the California Fair Plan. A link for it is below. You might post what state your in.
Many times you can get companies to insure your home BUT exclude sink-hole damage. Many companies in FL now do not include sinkhole coverage. You can also get a policy through Citizens, the state backed company.
keep on looking??