Sinkholes can be very hazardous when they occur in residential areas. Moving water leads to the dissolution of the rocks (like limestone) under the earth’s surface can cause a sinkhole. Sinkholes can also result from artificial activities such as mining and oil drilling.
Sinkholes are not common in the United States, hence the exclusion of their coverage in most insurance policies. In some southern states, it might be something to worry about. Texas, for example, is a mining and oil-drilling state. If you are a resident, you need to consider sinkhole insurance.
Sinkholes happen quickly and rarely give warning signs before they happen. You must be proactive and determine whether your area is at risk of being affected by sinkholes. Our experts can help you decide if you need sinkhole insurance. We help you get the services of geologists and quantity surveyors who can analyse and detect the risk.
The damage caused by sinkholes can be minimal. But there could be more dramatic effects involving structural damage or the collapse of homes.
Sinkhole insurance can be added as an add-on to your homeowners’ insurance policies or as a stand-alone plan. It helps you cover the cost of the damage to your home or other property caused by sinkholes. If a sinkhole has condemned your home or if you were forced to evacuate because of a sinkhole. Having sinkhole insurance can give you some financial protection.
Over $300 million in annual damages have been recorded in the United States due to sinkholes. Call us today to get the right sinkhole insurance.
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