Years after the hurricanes of 2004 and 2005, Florida homeowners and insurers are still dealing with sinkhole claims. According to the Daytona Beach News-Journal, “The sinkholes at issue aren’t the mammoth holes that suddenly open and swallow a house. Insurers are required to issue catastrophic ground cover collapse for those. In 2007 the definition of a sinkhole was changed and optional coverage, which is for more minor damages like foundation cracks, was added for an additional premium charge.
Homeowners eager to get tens of thousands of dollars for such cracks have used the change in payback method to file more sinkhole claims than ever.”
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