November 30, 2010 – Florida – According to a Florida state official quoted in a November 10 article on TCPalm.com, recent Florida sinkhole claims have been driving up the costs of homeowners insurance. As evidence, state insurance commissioner Kevin McCarty points to the fact that a 200% increase in Florida sinkhole claims between 2006 and 2010 has cost insurers more than $1.4 billion. McCarty insists that these sinkhole claims have resulted in rising insurance rates.
In 2009, insurers reported 7,244 Florida sinkhole claims, which resulted in an average of $47,157 being paid to each policyholder. This year, the number of claims is set to exceed the number filed in 2009, but the average payout for each claim has dropped to $18,533. Still, the trend remains troubling for both insurers and the insured.
While most of the Florida sinkhole claims occurred in counties like Hernando and Pasco, there was a steady climb for claims in Broward and Miami-Dade counties, which is uncommon for the southern part of the state.
If your home has been damaged by a sinkhole in Florida, you may be entitled to compensation through a homeowners insurance claim. Filing a claim could allow you to receive compensation to cover the damage to your property, the costs of repairs, and the costs for temporary living arrangements.
To learn more about your options, you can speak with an experienced Florida homeowners insurance attorney. Once you consult with an attorney and share the details surrounding your sinkhole incident, you’ll have a better idea of whether a Florida homeowners insurance claim is the right solution for you.
When to Contact a Florida Homeowners Insurance Attorney
The Florida homeowners insurance claims attorneys at Falk & Falk Law Firm know how important it is to you and your family to get the settlement you need in order to move on with your lives. Our homeowners insurance attorneys have experience in helping victims of hurricanes, theft, vandalism, fire, sinkholes and more to recover from their loss. An experienced attorney can help you to fight for the compensation that you need and navigate the tricky world of homeowners insurance in Florida. Contact us today – 305-742-0878.