Sinkhole Insurance Premiums On the Rise

This insurer is proposing raising premiums on sinkhole insurance by as much as 400% in Florida. Some locations could see rises as much as 2000%.



Although Florida is one of the sinkhole capitals of the United States, the insurer called Citizens is taking advantage of an act of legislation that removed a rate hike cap on sinkhole insurance premiums.

Therefore, a typical sinkhole premium that costs a Tampa Bay resident $156 would rise to $3,651. Ouch!

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MS