Sinkholes are defined as a natural depression in a land surface communicating with a subterranean passage, generally occurring in limestone regions and formed by solution or by collapse of a cavern roof. In Layman’s terms it is a hole that opens up in the ground that many times damages residential or commercial structures. There were major changes made to sinkhole coverage within the insurance industry in January 2012 that restricts or limits coverage. This sometimes creates problems for clients that have sinkholes.
Sinkholes are extremely prevalent in the Tampa Bay area, namely Pasco, Hernando and Hillsborough Counties. They also frequently occur in Ocala, Orlando and in other parts of the state. Clients who have a sinkhole or who have filed a sinkhole claim will have a difficult time finding coverage. Strategic Insurance Services is one of only a handful of agents who have access to a homeowner’s insurance market that will offer a policy for clients with current and prior sinkhole damage, whether the damage has been repaired or not. If you are having trouble finding coverage for a property that has a sinkhole, please contact our office for a quote.