Pittsburgh, PA Mine Subsidence Insurance
You may need mine subsidence insurance if you own structures located in Pittsburgh, PA or any area where underground coal and clay mining has occurred.
There is a chance that your structure could be damaged by collapsing mines, which is excluded from most homeowners policies.
Mine subsidence causes millions of dollars of damage each year. In the late 1950′s, the private insurance industry excluded mine subsidence coverage from standard homeowners insurance policies due to costs and difficulties associated with the highly technical nature of mine subsidence claim investigations. In 1961, the Commonwealth of Pennsylvania established the Mine Subsidence Insurance Fund to provide a reliable source of insurance against losses caused by underground coal and clay mine subsidence.
The Pennsylvania Department of Environmental Protection (DEP) uses the expertise in its mining programs to administer this nonprofit insurance program, which is sustained by policyholder premiums and not tax receipts. DEP strongly encourages those who own structures in the coal and clay mining regions of Pennsylvania to contact the insurance professional who provides their homeowners insurance and ask them if Mine Subsidence Insurance coverage is needed.
Mine subsidence insurance is very reasonable and some local agents in Pittsburgh, PA can offer the coverage through the state. The average policy, which provides more than $90,000 worth of coverage, costs less than $90 a year, and the Mine Subsidence Insurance Fund has never failed to pay a valid claim.