Mine Subsidence Q&A
Frequently Asked Questions
The current annual rate for residential structures is $2 per every $1,000 of coverage. Commercial structure rates are $3 per every $1,000 of coverage. Examples of annual premiums are shown at the bottom of this page
The maximum amount of insurance currently available is $275,000 per structure. The WMSIP rules and regulations require that structures must be insured for at least 75% of their estimated value, but cannot exceed 100% of the estimated value. At your option, detached structures (such as garages) may be covered for an additional premium.
Yes. For residential structures, the deductible is 1% of the coverage amount with a minimum deductible of $250 and a maximum deductible of $500. The deductible on commercial structures is the same except that the maximum deductible is $1,000 instead of $500.
You owe it to yourself to find out more about mine subsidence insurance. You have too much at stake to delay obtaining the protection you need. Find out today how you can be covered for the threat of mine subsidence and have peace of mind for pennies a day.
While mitigation stabilizes the mine and reduces the risk of subsidence, it does not guarantee that a subsidence event will not occur. However, if subsidence does occur after mitigation, it is likely the damage will be cosmetic in nature as opposed to catastrophic. The decision to carry mine subsidence insurance is up to the individual property owner or the lien holder.
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