Sinkhole Coverage for Florida Homeowners

To give you some idea of how expensive these sinkhole claims are getting, consider these numbers from Pasco County.

There was only $163,000 worth of insurance claims for sinkholes in 2003. Last year that figure jumped to $42 million.

“One of the reasons why Pasco County has seen such and increase in homeowner’s insurance from citizens and the private sector is because of the amount of sinkhole claims that are being filed each and every year,” explains Sen. Mike Fasano, (R) New Port Richey.

The measure sets up an independent evaluator appointed by the state. If the evaluator concludes a sinkhole exists, insurers will pay.

If the ruling goes against homeowners, they can still challenge the ruling in court, but will only receive attorney fees if they win.