How mine subsidence insurance works.

What is mine subsidence?
It is the movement of the ground surface resulting from the collapse of underground coal or clay mine workings, or from a sudden unexpected breakout of water from an abandoned mine. It could form sinkholes or troughs in the ground. Mine subsidence insurance covers damage to your home or buildings and their appurtenances that occurs during the policy period and which is caused by the movement of the ground surface as a result of the collapse of underground coal or clay mine workings, or from a sudden unexpected breakout of water from an abandoned mine.

How do you know if you need mine subsidence insurance?
The easiest way to find out if you live in a high risk area is to enter your zip code into the abandoned mine search tool found at your state’s department of environmental services website. Another way is to ask your municipality’s office to see a map that highlights areas of previous mining activity.

How much does it cost?
In Pennsylvania, residential coverage costs about 65 cents for every $1,000 of coverage. An average policy of $130,000.00 would cost $85.00 a year. Residential structures have a $250 deductible, while non-residential structures have a $500 deductible. If at the time of a claim settlement the total cost of repair exceeds the policy limit, the deductible is waived. If you’re 65 or older by the premium due date, you get a 10% discount.

 
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