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Old 04-02-2010, 08:36 AM
 
14 posts, read 27,339 times
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Default Mining Subsidence Insurance - Need It or Not?

Our real estate agent has made us aware of mining subsidence in SW Indiana. We're looking at buying a house just east of Bloomington. The insurance agent said he is not aware of any of his insureds in this area having subsidence insurance.

The online mining maps do not indicate the presence of old mining in the area -- but this is no guarantee that mining did not take place there.

We've read sad stories of 150-year-old mines finally collapsing, damaging foundations - or worse, taking land and houses down with them.

What is anyone's experience with this in eastern Monroe County? Do we pay the $100 premium or not bother?

THANKS!
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Old 04-02-2010, 10:55 AM
 
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I think the mine subsidence only covers coal mines. There are not any coal bearing rocks east of Bloomington, so no danger of a coal mine subsidence. The only underground coal mine I know of in Monroe County was a very small one west of town near Kirksville.

Anytime you have a question about geology in Indiana the folks at the Indiana Geological Survey can help you with free information.
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Old 04-02-2010, 11:02 AM
 
Location: Turn Left at Greenland
17,562 posts, read 24,079,113 times
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Quote:
Originally Posted by Uplander View Post
I think the mine subsidence only covers coal mines. There are not any coal bearing rocks east of Bloomington, so no danger of a coal mine subsidence. The only underground coal mine I know of in Monroe County was a very small one west of town near Kirksville.

Anytime you have a question about geology in Indiana the folks at the Indiana Geological Survey can help you with free information.
and it's located on the campus of IU!

sounds like a scam to me.

<a few minutes later>
WOW!!!! This is so freaking cool! Check this out!
http://coalminemaps.indiana.edu/viewer.htm
__________________
If there won't be dancing at the revolution, I'm not coming.
Emma Goldman
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Old 04-02-2010, 11:24 AM
 
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Not a scam, just a law written by lawers and state insurance folks in Indianapolis who didn't listen all that much to geologists.
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Old 04-02-2010, 11:28 AM
 
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Uplander and domergurl: THANKS. We checked out all the info online last night, including the IU maps, and you're right: Lots of good (and cool!) info there. It didn't appear to us that the area east of B'ton was ever utilized for mining.

Still, Monroe is definitely considered one of x-number of Indiana counties where subsidence insurance is available. However, just a bit further east, Brown County, is not.

The fact that our insurance agent didn't push it was also a clue.

From the maps, it looks like folks more in the SW "swath" need to be concerned about it.

Thanks for your input -- and anyone else forthcoming.
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Old 04-02-2010, 11:37 AM
 
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I think the law requires the coverage to be offered to homeowners in counties which contain coal-bearing rocks. Monroe has those in the western part of the county. The rocks in Brown county are older and are not coal-bearing.

It might be a good thing that the local insurance agents don't have to try to explain geology - it's not really their thing.
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Old 04-02-2010, 11:53 AM
 
14 posts, read 27,339 times
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Uplander: Your statement re. offering the coverage is exactly what we've read, too... "Offered" not "required" nor even necessarily recommended.

Of course, it's tricky to get anyone's recommendation on whether such coverage is prudent or not.

And about insurance agents... Precisely!
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Old 04-02-2010, 07:21 PM
 
Location: Carmel, Indiana
96 posts, read 102,895 times
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As someone who has worked in the P & C insurance industry and has experience with underwriting homeowners policies for your area of the state I will let you know that it has to be offered by your agent as a part of the application and underwriting process for your policy but RARELY does anyone actually request the coverage. I'd have to check our company's loss history on Mine Subsidence claims but I'd be willing to be it's close to 0 over the years I've been in the business.

Don't worry about it.
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