Determine a Florida Property’s Sinkhole Risk
For most Americans, a home is the single largest investment they will ever make – and yet few homeowners understand that comprehensive sinkhole coverage is not part of a standard homeowner’s insurance policy.
According to a 2010 Florida Office of Insurance Regulation report, the number of sinkhole claims in Florida continues to rise – perhaps due to soil type and other factors that make surface ground more susceptible to catastrophic collapse in that state. Our Florida Sinkhole Risk Data Layer predicts and scores – from low to very high – the relative risk of sinkholes in Florida using a comprehensive database of known sinkholes, as well as a proprietary methodology developed by a team of Ph.D.-level scientists that analyzes soil and other factors that contribute to catastrophic ground collapse.
Tel: (855) 267-7027
Comply with Mine Subsidence Insurance Regulation
Meanwhile, many other states have passed legislation requiring homeowners in certain areas to carry additional Mine Subsidence Insurance (MSI) when purchasing or renewing a homeowner’s policy. Our frequently updated mine subsidence data can be used to assess the potential risk of property damage resulting from the collapse of underground mining operations, by identifying the existence and status of underground mines.
A gap in a homeowner’s insurance coverage puts more than the homeowner at risk. A variety of delivery options, including RiskMeter, can help insurers and mortgage lenders protect their investments from sinkhole risk as well as alert homeowners to the possible gap in their coverage – before it’s too late.
Insurers and Mortgage Lenders Can Use the CoreLogic Florida Sinkhole Risk Data to:
Alert homeowner’s to the sinkhole risk gap in insurance coverage
More accurately price policies in Florida based on the level of sinkhole risk
Manage lending decisions based on level of probably uninsured sinkhole property damage
Identify Florida properties to re-insure or require additional sinkhole insurance
Marry sinkhole risk and asset protection in Florida
Insurers Can Use Our Mine Subsidence Data Layer to:
Comply with certain state MSI regulations using data using from CoreLogic that identifies the precise location, status and substrate of over 62,000 existing U.S. mines
Structural Risk and Valuation
Better Residential and Commercial Values and Risk AssessmentLearn More