YOU ASK:

What is the definition of Mine Subsidence Coverage?

WE ANSWER:

Mine Subsidence Coverage is a protection that pays for losses in the event that a house sinks due to a mine shaft located under the house. This can be placed as an endorsement to a homeowners' insurance policy. This is usually not covered by a standard homeowners' policy, in the same way that earthquakes and other forms of earth movement are excluded.

Houses that lie above mineshafts face the real threat of collapse, or vertical or lateral movement. This happens when the mine below the ground caves in. Since this risk has a great chance of happening, mine subsidence coverage is only available using state-sponsored FAIR (Fair Access to Insurance Requirements) plans.

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