Florida Law requires that "every insurer authorized to transact property insurance in this state must provide coverage for a catastrophic ground cover collapse" (Florida Statutes Section 627.706). The insurance company must offer you the option to purchase Sinkhole Coverage on your Homeowners, Condo Association and Commercial Property insurance policy.
"Sinkhole activity" means the settlement or systematically weakening of the earth supporting a covered building resulting from the movement of soil, sediment or rock created from the effect of water on subterranean rock or limestone formations. The resulting damage to your Dwelling Structure, your Condominium Association Building and your Commercial Property can be catastrophic. Typical claims resulting from the following sinkholes include:
The law requires you notify your insurance company within 2 years from the date you knew or should have known that a sinkhole loss occurred. The insurance company must retain a geologist or other qualified engineer to investigate. However, it is important that you also consider retaining your own expert to be certain the company's report fairly addresses the question of coverage. Hiring a good claims adjuster or knowledgeable Florida Sinkhole Claims Attorney may be the difference between securing a sinkhole claim payment and coming “out of pocket” on these very costly sinkhole repairs.