Florida Statute 627.706
The following definitions are taken directly from Florida Statute 627.706: (a) “Catastrophic ground cover collapse” means geological activity that results in all the following: 1. The abrupt collapse of the ground cover; 2. A depression in the ground cover clearly visible to the naked eye; 3. Structural damage to the building, including the foundation; and 4. The insured structure being...
Read MoreFla. Senate Examines Sinkholes; Outlines Ideas for Lawmakers
January 7, 2011 By Chad Hemenway, PropertyCasualty360.com The Florida Senate’s Banking and Insurance Committee has weighed in on the sinkhole issue, proposing a set of recommendations for lawmakers when they meet later this year. In its 45-page report on the topic, the state Senate outlined recommendations to lawmakers, including: Allowing insurers to not renew a home after paying a...
Read MoreFlorida Sinkholes
Some of the questions we are asked at Focus Insurance Group on a daily basis are: 1. Do I have sinkhole coverage? 2. What is catastrophic ground cover collapse? 3. Do I need sinkhole insurance? 4. What is the difference between sinkhole coverage and catastrophic ground cover collapse? Over the next week or two, we will dedicate our blog to this subject. We will post news articles, expert...
Read MoreHow much will Homeowners insurance cost?
There are many factors an insurance company uses to determine the price of your policy: The square footage of the house and any additional structures. Building costs in your area. Your home’s construction, materials and features. Amount of crime in your neighborhood. The likelihood of damage from natural disasters, such as hurricanes and hail storms. The proximity of your home to a fire...
Read MoreHow do I take a home inventory?
Start by making a list of your possessions, describing each item and noting where you bought it and its make and model. Clip to your list any sales receipts, purchase contracts, and appraisals you have. For clothing, count the items you own by category — pants, coats, shoes, for example –- making notes about those that are especially valuable. For major appliance and electronic equipment,...
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