DAILY REAL ESTATE NEWS | MONDAY, MARCH 04, 2013

Sinkholes are a lot more common than many home owners realize—particularly in Florida, according to CoreLogic, a real estate analytics firm.

A Florida man is presumed dead after a large sinkhole engulfed his entire bedroom last week, capturing headlines across the country. The incident has prompted many home owners wonder if a sinkhole is a threat to their homes too.

In a CoreLogic analysis, Florida appears to be most at risk for sinkholes, with 15,000 verified sinkholes. Pasco County—along the West Coast of Florida—has about 6,000 of those 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 writes. “It’s also interesting to know, however, that general homeowners insurance often does not cover sinkhole losses.”

Source: “CoreLogic: Sinkholes More Common, Costly than Home Owners Realize,” HousingWire (March 1, 2013)

 

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