Can you imagine the shock of the ground literally falls under you? Recent incidents in Florida and Illinois show that it can happen to everyone, everywhere. These incidents were caused by sinkholes, but it's not the only reason the earth could move under your feet and damage your property.
- Earthquakes. There are many definitions, but the most common concerns a shake surface of the earth caused by a shift in the tectonic plates of the earth, usually along fault lines. Typically, the most serious of "slippage" in the plates of the earth, the more severe tremors may be, causing more damage. This often depends on proximity to populated areas.
- sinkholes. state legislatures have variously defined. Sinkhole collapse usually means actual physical damage caused by the sudden collapse of colonization or land supporting property. Regulation or the collapse of underground voids results created by the action of water on limestone or similar rock formations. Traditionally, this has been something that took place in the southern states like Florida. However, more recently sinkholes have appeared in many areas. Some were just big enough for a person to fall in others are large enough to swallow a house.
- mine subsidence. This is generally defined as the lateral movement or vertical soil resulting from the collapse, artificial underground mines, including but not limited to coal, clay, limestone and fluorite mines that damages directly structures.
Since your home is probably your largest investment, the movement of the earth must be a concern. Whether or not you can buy an insurance cover for your home for these three events may vary significantly depending on your location. Standard homeowners coverage form does not automatically provide coverage for losses due to earthquakes, sinkholes, or mine subsidence. However, many states have passed laws requiring operators to offer one or more of these hedges. The "slippery slope" from the perspective of the coverage is what is needed or available in your area.
Carriers that provide these guarantees are usually for an additional premium. In some cases, coverage may not be available from your carrier, but may be available through the state. As there can be such a variation of exposure to earthquakes, sinkholes, and mine subsidence, your best bet is to check with your local independent insurance agent to see what is available and necessary in your region . In addition, many state insurance services have websites explaining what the state requires in such cases
Make sure you are on solid ground - .. Check with your agent independent insurance to see what type of coverage is available for you
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