Ask an Agent
Have a question? We're here to help.
Ask an agent for free

Cost of sinkhole coverage in Tampa, FL

Buying property in Tampa. No reported sink holes on the property, but it is within 1/2 mile of a reported sink hole. Is buying sinkhole insurance adequate protection and what is the cost?

Aug 1, 2018 Tampa, FL

Author profile picture

Ava Lynch

Insurance Analyst

  • 7+ years of Experience in the Insurance Industry

Ava joined The Zebra as a writer and licensed insurance agent in 2016. She now works as a senior insurance contributor, providing insights and data a…

Florida currently requires homeowners insurance policies and by extension insurance companies to offer coverage for what they call “Catastrophic Ground Collapse,” which may not actually cover damage caused by a sinkhole. Catastrophic Ground Collapse coverage differs from sinkhole insurance by requiring four standards be met before an insurance company will cover your loss:

  • The ground collapse must be abrupt
  • The depression of the ground cover must be clearly visible to the naked eye
  • Structural damage must occur to the building covered on your insurance policy (this includes the foundation)
  • The structure must be condemned and ordered to be vacated by the government agency authorized to issue such an order for that structure

If you sustain a sinkhole on your property but don’t meet those criteria, you could be faced with a financial catastrophe. Your home could be damaged, but not severely enough to warrant a “condemned” status, leaving you with a huge repair bill and no coverage.

Sinkhole insurance, on the other hand, does not require these same standards to be met before coverage applies for a loss, making it easier for homeowners to file a claim if their home is damaged. Although Catastrophic Ground Collapse coverage is automatically included in Florida and Tennessee homeowners insurance policies, customers can opt for broader coverage by adding a sinkhole coverage endorsement. This type of endorsement expands the Dwelling and Personal Property coverage on existing home insurance policies to include losses due to sinkholes. Unfortunately, sinkhole insurance can be quite a bit more expensive than a Catastrophic Ground Collapse endorsement depending on the location of your home and the risk associated with your area, so it is important to weigh your options and read the details of the policy carefully. It’s also important to remember as a homeowner that you have many options when it comes to home insurance, and the best way to find the right policy is to shop around with as many companies as possible. Ask lots of questions to make sure you are clear on how the policy handles various types of losses to avoid a major headache down the road. Good luck!

Ask an Agent
Have a question? We're here to help.
Ask an agent for free

Insurance is complicated, but it doesn't have to be.

The Zebra searches all of the top insurance companies, in one place, so you can compare the cost and coverage you need to protect your car, home and other property.

Step 1: Tell us a little about yourself

Choose an insurance product and enter your zip code to get started.

Step 2: Sip your coffee while we find the best quotes

Enter the necessary information and then sit back while we find quotes from 100 top insurance carriers.

Icon Fill Form

Step 3: Compare your quotes

Compare quotes side-by-side to find the right match for you, whether it's home, auto, or more.

Icon Agent

Step 4: Let our agents do the hard work for you

Once you pick your policy, our agents are here to get you over the finish line. Then just relax and enjoy your savings.

Compare insurance rates today!

Location pin icon
No junk mail. No spam calls. Free quotes.

Related Questions

Other people are also asking...

At-fault wants to pay for damage he caused out of pocket

This can be a tricky situation. Usually, someone will try to avoid insurance companies for two reasons: they either don't have any insurance or they want to avoid their rates going up. If the damage is small, this is generally encouraged. You can simply go to a mechanic you trust and get the e…
Jun 24, 2018 Orlando, FL

Will my homeowners coverage cover my condo if it's a rental?

Thank you for reaching out to The Zebra!Your HO-6 (condo insurance) liability policy will not cover your condo while it's being used as a short-term rental. This has become a much more common scenario over the last few years as remote work and home-sharing websites are increasingly popular. Re…
Mar 29, 2024 Destin, FL

Does insurance cover water damage from a leaking shower?

Most homeowners policies cover water damage unless that coverage is specifically excluded. Look at your policy to see what coverages are included. If water damage is covered on your policy, it's impoirtant to also understand the limits (the maximum amount your insurance comapny will pay for th…
Jul 19, 2021 Beaverton, OR

Someone hit my partially opened door in a parking space

This can be a tricky situation. Although we're both licensed insurance professionals, only a claims adjuster would be able to handle this so that is where I would take my question. However, in my experience, the owner of the parked vehicle is considered at fault in these instances because they…
Jun 28, 2018 Orlando, FL