Fasano calls for sinkhole insurance reform

7:26 PM, Mar 1, 2013   |    comments
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New Port Richey, FL -- State Rep. Mike Fasano says it is time for sinkhole insurance reform. Among the things the republican says the state needs to do is to create a sinkhole pool that anyone can buy into for coverage.

"Everyone, every homeowner, every business that would like to purchase (coverage could do that)," Fasano said.

Fasano says the state should also do something about homeowners who wind up losing coverage after they get a sinkhole on their property.

"If you fix a sinkhole according to the engineer's requirements then no company should then drop you. That should be against the law in the state of Florida."

The third thing Fasano says he would like to see done is a repeal of Senate Bill 408. Passed 2-years ago, the bill says if a sinkhole develops on your property - but it's not under your home - you the homeowner need to fix it and if you don't, any future sinkhole claims on your home won't be covered.

Finally Fasano says sinkhole deductibles should be based on your claim not on the replacement value of your home.

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