Sink Hole vs Catastrophic Ground Collapse Insurance In Florida

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[@carolapostolos8929]

Being new to Florida I did not understand the difference between sinkhole and catastrophic ground coverage insurance. Now I finally get it. Thank you Skip!!

[@TheVillagesSkipSmith]

Thanks 4 Watching

[@suebrown8610]

Thanks for the info. Appreciate the time and effort given to help others😊

[@TheVillagesSkipSmith]

Thanks 4 Watching

[@Anthony-ko3ep]

Thanks Skip, There has been so much news lately about Homeowner policy premiums increasing substantially, in addition to some polices not being renewed at all. Here in the NYC & NJ premiums are getting out of hand. Thank you for always providing us with good information.

[@TheVillagesSkipSmith]

It's Crazy

[@skipwilson7626]

Good advise.

[@TheVillagesSkipSmith]

Glad you think so!

[@birdie1875]

Thanks skip just close on are place in the villages I texted you to see about asking you about some termite questions you gave me your number a few months back if you get time would like to ask you thanks for information 😎

[@rebeccathompson5287]

Great and very useful information! Thanks Skip.

[@johntamulonis4626]

Great information Skip, thanks for sharing.

[@stevenwilburn235]

Thank you for the info Skip!! Steve

[@elaineskurski6555]

Fantastic video. I thought they were the same. Thanks so much for such an informative video

[@TheVillagesSkipSmith]

A lot of people are misinformed on this... Thanks 4 Watching

[@carolyneverett762]

The Villages should build you a new home if this happens to you!

[@user-un2gx1hp8r]

Thanks Skip . We have been watching a long time and are sincere in giving valuable information about the Villages. We are renting this month and I just took a quick look at the weather vain and water tower at Paddock Square. Back where I come from there are Amish house movers there that could repair those at a fraction of the estimated replacement. Besides I believe that the developers should maintain these. What do you think ? Thanks keep up the great work.

[@TheVillagesSkipSmith]

We have Amish here and the Amish Furniture Store is the most expensive store around

[@user-un2gx1hp8r]

@@TheVillagesSkipSmith That's funny 😁. Keep the shinny side up driver.

[@lasalsera-x8d]

I was confused with these two terms. My insurance agent said most ppl don't get a sinkhole insurance in my area (Venice/North Port) because of the high deductible and you have to get the sinkhole inspection done (~$150) I'm thinking this more like an earthquake insurance in the pacific northwest. You'll probably not need it but it's also cheap insurance to have. That being said I'm still deciding if I should get it. I might be the only one in the neighborhood to get it. lol.

[@TheVillagesSkipSmith]

You have to do what's good for you. For me I have it just incase.

[@henryjohn972]

Thanks, Skip......

[@TheVillagesSkipSmith]

You bet!

[@MikeB-in1nd]

What a mess

[@TheVillagesSkipSmith]

can be

[@AmericanConstellation]

I've lived in Florida all my life, 64 years. I know where the sink holes are most likely to occur. Take a look at the aerial photos or maps. There's tons of lakes and ponds there. Those are sink holes. They conned people to move into to that place and boy are they in for a big surprise. Also, most available land now is swamp land.

[@TheVillagesSkipSmith]

Not All True

[@AmericanConstellation]

@@TheVillagesSkipSmith Well what part of it is not all true? That's funny!

[@TheVillagesSkipSmith]

@@AmericanConstellation You can here my answer tomorrow , I spot lighted you on this weeks viewer comments..

[@leblancrealtygroup1811]

We part of Florida do you live? As someone considering moving to Florida I would like to choose an area less likely to have this issue even though I realize it can happen anywhere.

[@AmericanConstellation]

@@leblancrealtygroup1811 It depends on what you like. I've lived in Clearwater most of my life. I lived in Miami for a while. It's way too busy, very expensive and the crime is insane. I like to live by the gulf. The central Florida gulf beaches are some of the best in the world. If you like the country life, move inland and more in central to northern Florida. Get a big piece of land on a lake if you like to boat and fish, or get a big piece of land if you want privacy. I really like the west coast of Florida better than the east coast. I've been all over this state. I've seen it all. That's the fun part about it. You can go on a short trip and see so many fun and pretty places here.

[@nf2885]

With the way things at being run In Washington DC and a President who doesn’t know what his name is, this whole country is about to collapse into a sink hole!! Prices for food, cars, homes, insurance etc are out of control. We are headed for total collapse. Never mind catastrophic ground collapse. We are all going to be in it. And furthermore, realtors who direct clients to buy in Florida need to be honest and advise them of the home insurance crisis and what is being discussed by Skip in this video.

[@TheVillagesSkipSmith]

Oh the things I could tell you about secrets here...

[@nf2885]

@@TheVillagesSkipSmith why don’t you? We’re interested in living there and plan to visit this summer. If you can provide some helpful information that would be appreciated.

[@gobbsmacked9777]

Here's my comment . . . 'hi Skip'

[@TheVillagesSkipSmith]

Hey how are you !!!~

[@johnreformato1389]

Skip i watch your videos a lot and i enjoy them But in this video concerning a non-catastrophic ground collapse insurance rider you didn't mention the very high deductable. Some policys have a $50K deductable for this type of sink hole insurance! So the question remains, is a separate sink hole/ ground collapse insurance rider really worth it or will most sink hole events here in the villages be catastrophic. I believe the examples you showed in the video were catastrophic. I know there is no way to be certain but all we can do is look at the statistics.

[@nf2885]

Again, realtors and the guy in this video conveniently withhold important information from consumers just to make a sale.

[@johnreformato1389]

@@nf2885 Realtors yes, but although i don't know Skip personally i'm sure he means well and is trying to do his best on the topic. Insurance is about mitagating risk and everyone views risk differently. This is a very similar topic as "getting a lightening protection system" installed on your home. Statistically there have been very few homes destroyed by lightening strikes here in the Villages but many have these systems. It's about how much you believe these events can happen to you and how much risk you can tolorate. My insurance company basically told me "statistically" if you have a major sink hole event where the insurance rider kicks in, it will probably be catastrophic and covered by your homeowners insurance catastrophic coverage. But again, as Skip says, it might not and i believe that's all he's really saying. I would like to meet skip one day!

[@TheVillagesSkipSmith]

Who ever is in charge of determining a Sink hole VS. Catastrophic , that will be his or her determination.. You just need the insurance either way it is determined.. My sink hole ins. has a10K deductible.. That's what I can live with..