Florida sinkhole costs News

Florida’s Citizens Reaches Sinkhole Settlement

Florida’s state-backed property insurer said it has reached an agreement with more than 300 policyholders with sinkhole claims that officials say could save the insurer $30 million in legal fees. Citizens Property Insurance Corp. officials said the tentative agreement is …

Court Upholds Florida Sinkhole Insurance Loss Rule

A Florida court has upheld a decision by state insurance regulators that property insurers must offer sinkhole loss coverage in an amount equal to the dwelling coverage limit. Farm Bureau asked the Office of Insurance Regulation to approve an amendment …

Even Without Big Storms, Florida Property Insurance Costs Rise

Marco Tarafa was stunned to find that his homeowners’ policy is increasing by nearly $1,000 a year  —all because inspectors couldn’t get into his attic, where there was no crawl space and about 24 inches of insulation. Tarafa was a …