CoreLogic: Sinkholes more common, costly than homeowners realize | Pound Ridge Real Estate

A Florida man who reportedly lost his life as a sinkhole swallowed his entire bedroom sent a chill across the U.S. as more Americans became aware of how unsettling nature can be.

But, unfortunately, sinkholes may be more common than homeowners realize, and the hazard is one insurance companies generally refuse to insure, real estate analytics firm CoreLogic said. 

Even more shocking is that CoreLogic analyzed hazards in the immediate area surrounding the impacted Florida home and discovered there are 16 verified sinkholes within a mile of the residence. 

The state of Florida has 15,000 verified sinkholes altogether, with Pasco County on the West Coast of Florida housing more than 6,000 sinkholes, according to CoreLogic. 

“It’s important to note that not all sinkholes are prone to a sudden collapse like this, and they all obviously represent various levels of risk to people in the area,” CoreLogic wrote in an advisory. “It’s also interesting to know, however, that general homeowners insurance often does not cover sinkhole losses.”

kpanchuk@housingwire.com 

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