The Sun-Sentinel newspaper covers Citizens Property’s request for a rate increase to cover sinkhole claims. (These claims were rare in South Florida until about a year ago.):
Citizens collected $19.6 million in premiums specifically for sinkhole coverage in 2009 but paid out $97 million in sinkhole claims and expenses. Most of the sinkhole claims were for minor cracks in walls and driveways, according to the insurer.
Sure wish my insurer covered cracks in my driveway.