Before we look at the killing some law firms are making off of sinkhole claims, it may be appropriate to take a look at the killing being made by “some” of their clients and, of course, how they go about making that killing.
Remember, three out of every four of those filing sinkhole claims, didn’t even need the money they extorted from the system; money which, of course, came from others; average people, you and me, and those who can’t even afford a home.
How do we know they didn’t need the money? Because they didn’t spend it on the damage they said they needed it for. And, it’s likely that a large percentage of those who did spend “some” money on damage were only repairing settlement cracks, or other unfortunate occurrences that are not usual subjects of insurance.
Also keep in mind that the average sinkhole claim payout is over $140,000, often more than the market value of the entire home; enough to pay off the mortgage, buy a new home and rent out the old one–not that rare of an occurrence according to legislative testimony.
Keep these facts in mind as you watch two video’s below that expose at least a few of those so greedy they’d ruin the property values, tax base and economies of entire counties for their own selfish and unjust enrichment. And, ask yourself…why are the so called consumer advocates and their legislative flag-bearers fighting to maintain such shameful largesse? They successfully fought to reduce a needed rate increase, why can’t they fight to reduce the underlying causes of so much fraud and opportunism–particularly since it is hurting so very many people.
If you haven’t seen these video’s before, take my word for it…they’re worth sending to everyone you know who might still believe that allegations of fraud and abuse are exaggerated. Feel free to include this blog (or use it to transmit the video links) so they’ll know that they aren’t alone in feeling outrage at what they see and hear.
VIDEO #1: A local news team visits a New Port Richey home where a sinkhole claim was filed. The home was rented from realtor Calvin Kemp who has filed 12 sinkhole claims at 12 different homes that he owns. He is suing a carrier who refused to pay one of the claims. Be sure to read the accompanying story. UNBELIEVABLE; but not so rare!
VIDEO #2: Another realtor, Greg Armstrong, testifies to the House Insurance Committee of the kind of abuses he see’s on a regular basis. One home has multiple claims filed, one with a private carrier and another with Citizens, and the payout is more than the entire value of the home…both times! And… there’s more!