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Old 04-06-2010, 04:20 PM
 
68 posts, read 213,487 times
Reputation: 29

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Closing on a home in Lake Mary in a few weeks (I hope), when I started looking for homeowners insurance I was in shock. I thought Florida was supposed to be a little more reasonable to live. I'm getting quotes of 1700 to 2100 annually. In NJ I have a similar type home and I pay $710 a year and that's with Allstate. To further complicate the situation I found out there is a sink hole approximately four tenths of a mile from the property. Does this put me at the mercy of the insurance industry? The house was built in 1997. I would think the sink hole would not be a factor after thirteen years. I heard something about a sink hole inspection. Could I get one done on the house to possibly lower these insurance estimates?
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Old 04-08-2010, 08:29 AM
 
26,585 posts, read 62,033,913 times
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The quotes you are getting are probably about right. I really hope you don't think it's less expensive to live here than in NJ, because as a former NJ resident, I can tell you that it's not.

My policy is with Chubb, and I have sinkhole coverage. To my knowledge they didn't do a sinkhole inspection, although they did do an appraisal of the home.
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Old 04-11-2010, 01:11 PM
 
4,278 posts, read 5,176,768 times
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You should check with the state about sink holes. Look on the web and you can find some information and POC. I contacted the state's expert and they looked at the area I was going to buy in Orlando. They said to stay away from Polk County/Tampa area and Jacksonville had a salt water problem. Insurance is
not cheap here and if you get close to the water you will pay alot more....
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Old 04-11-2010, 06:30 PM
 
59 posts, read 249,742 times
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That sinkhole is too far from the house to pose any risk. There are sinkhole surveys, but they are rarely done since they are expensive, about $800. You could call a geotechnical consulting firm and they can do a ground penetrating radar test, or electrical resistivity, depending on the type of soil you have. Don't know if the ins. co. would give a discount if the test indicated low sinkhole potential.
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