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Increasing number of sinkhole claims
May 8, 2006
An interesting article appeared in the Tampa Tribune yesterday indicating that Pasco County is the sinkhole capital for the state of Florida. Certainly not an honor that Pasco County would like to have. Nonetheless, most of the reported sinkholes since 1970 have been along the western portion of the county, along US 19.
And with more and more development in the county, there has been an increasing number of sinkhole claims filed with the insurance companies. Many of which are struggling to operate in light of the last two busy hurricane seasons.
Take a look at what is happening to your homeowners insurance premium in regard to the percentage that applies to sinkhole claims:
According to the article, you have a 1 in 100 chance of experiencing a sinkhole in any given year in the Tampa Bay Area. The odds are pretty low, but if you want to see if your property has ever been reported as having sinkhole activity, check out the link below:
http://www.dep.state.fl.us/geology/geologictopics/sinkhole.htm
An interesting article appeared in the Tampa Tribune yesterday indicating that Pasco County is the sinkhole capital for the state of Florida. Certainly not an honor that Pasco County would like to have. Nonetheless, most of the reported sinkholes since 1970 have been along the western portion of the county, along US 19.
And with more and more development in the county, there has been an increasing number of sinkhole claims filed with the insurance companies. Many of which are struggling to operate in light of the last two busy hurricane seasons.
Take a look at what is happening to your homeowners insurance premium in regard to the percentage that applies to sinkhole claims:
- 1992 percent of a homeowner's insurance premium = .05%
- 2005 percent of a homeowner's insurance premium = 3.7%
According to the article, you have a 1 in 100 chance of experiencing a sinkhole in any given year in the Tampa Bay Area. The odds are pretty low, but if you want to see if your property has ever been reported as having sinkhole activity, check out the link below:
http://www.dep.state.fl.us/geology/geologictopics/sinkhole.htm
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