Insurance Companies Deny 85% of Sinkhole Claims
The Herald-Tribune is to be congratulated for digging into the honest facts of sinkhole claims and showing that the insurance industry is denying 85% of all sinkhole claims. Here is the Graph:
Paige St. John noted many of the illogical reasons for the proposed sinkhole bill in Momemtum to Pare Sinkhole Coverage:
But a Herald-Tribune analysis of records the insurance industry wants lawmakers to keep hidden suggests a legitimate basis for most sinkhole claims.
The analysis showed more than 75 percent of claims reported by insurers since 2005 are within one mile of sinkholes and other forms of ground movement reported over the past three decades to the Florida Geological Survey. The analysis found only 25 of 1,400 claims that fell farther than five miles from reports of sinkhole-related activity.
Sinkhole repair is difficult and costly. The most ridiculous and anti-consumer comment about that issue came from the Senator in whose District State Farm's Florida headquarters is located:
The vast majority with some caulking, with some repairs, could be taken care of," said Sen. J.D. Alexander, R-Lake Wales, a supporter of the industry bill.
Cheers to those opposing this bill.
