Sinkhole
Insurance

In this guide

1.What is Sinkhole Insurance?

 

2.What are the types of Sinkhole Insurance coverage?

 

3.Why is Sinkhole Insurance important?

 

4.Get a quote

What is Sinkhole Insurance?

Sinkhole insurance is a special insurance policy that covers your home and personal belongings from sinkhole damage. Sinkhole insurance also pays to stabilize your home’s land and covers the cost of repairing your foundation.

Many homeowners assume their home insurance policy will cover sinkhole damage, but that is not always the case. Standard homeowners insurance policies usually do not include sinkhole coverage, although some open perils policies may include it.

What are the types of Sinkhole Insurance coverage?

There are two main types of sinkhole insurance—sinkhole loss coverage and catastrophic ground collapse coverage. Here are the differences in coverage:

Sinkhole loss coverage: Sinkhole loss coverage is an insurance endorsement that typically covers man-made sinkholes, including those related to mining operations. It may or may not cover naturally occurring sinkholes.

Catastrophic ground collapse coverage: Catastrophic ground collapse coverage protects your home if it falls into a sinkhole and the foundation is damaged beyond repair. In order to qualify for catastrophic ground collapse coverage, your home must be condemned by a local government agency.

Why is Sinkhole Insurance important?

It is important to research your area and know whether or not you reside in a high-risk area that is prone to sinkholes and they pose a genuine threat to homeowners. And because they are so erratic, it is best to prepare for the worst and ensure your home and belongings, especially if you live in an area prone to sinkholes. And if you do, get sinkhole insurance.

In the event that a sinkhole damages your home property and you need help with the hassle of dealing with Sinkhole Insurance, reach out to us.

Talk to us today to learn more about Sinkhole insurance.

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