If you have a mortgage on your house is sink hole insurance mandatory?

I’m in central Florida. I have contacted the mortgage company and either they do not know or they do not want me to know. I have yet to figure out which.

By | 2013-08-28T05:19:18+00:00 August 28th, 2013|Mortgages Home Loans Interest Rate|2 Comments

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  1. mbrcatz August 28, 2013 at 5:44 AM - Reply

    In Florida, politicians have passed laws that say that sinkholes must be covered under a homeowners policy.

    If you are hell bent on not having sinkhole coverage, you’ll have to buy property insurance that does NOT include sinkhole coverage – like through Lloyds of London – and it’s going to cost you a hell of a lot more.

    I don’t believe the mortgage standards require sinkhole collapse as a peril. But the state of Florida requires insurance companies to include it.

  2. Solavei August 28, 2013 at 5:36 AM - Reply

    In central Florida. Yep

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