Bill to make sinkhole damage insurance more afforable passes Legislature
People living in “sinkhole alley” may have more insurance options under a bill that passed the Florida Legislature on Tuesday and is now heading to Gov. Rick Scott for his review.
The legislation that passed easily on Tuesday would allow insurance carriers to offer new limited sinkhole damage policies that would cover the cost of stabilizing building and repairing foundations, but not necessarily to cover all of the contents in a home.
State Rep. Blaise Ingoglia, R-Spring Hill, said the hope is that by giving the industry a less costly option offer, more carriers would write sinkhole policies, even in hard-hit counties like Pasco, Hernando and Citrus.
For years, private carriers have steered away from offering sinkhole coverage, or charged so much that it was prohibitive for many homeowners, particularly in what has been called "sinkhole alley."
The bill (SB 1327) passed the House on a 113-1 vote. The bill passed on a 39-0 vote in the Senate last week.