Does Sinkhole Insurance Exist?

"If you live in a home, you can't buy sinkhole coverage for that. If you have a commercial insurance policy, such as a business or rental property, then the coverage is available. It s federally mandated, so insurance companies have to make that available to you," said Staci Simpson, Kentucky Farm Bureau Agent.

BOWLING GREEN, Ky. (WBKO) -- The cost of repairing sinkhole damage can get deep into your pocket. Homeowners in our area are not given the option to purchase sinkhole insurance, because it doesn't exist through large insurance companies.

However, the National Corvette Museum officials say their damage is covered by sinkhole insurance. A local Kentucky Farm Bureau insurance agent tells us how this is possible.

"If you live in a home, you can't buy sinkhole coverage for that. If you have a commercial insurance policy, such as a business or rental property, then the coverage is available. It s federally mandated, so insurance companies have to make that available to you," said Staci Simpson, Kentucky Farm Bureau Agent.

For those businesses who qualify, sinkhole coverage is included in the policy. It's not a rider, so your deductible would apply.


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