DMB Community Bank. A long-standing culture of community and entrepreneurship has allowed for multiple independent banks and credit unions in Madison, Wis., to prosper. Although,... Read more âº
Mine subsidence insurance costs $1 per thousand dollars worth of coverage a year. Private residences can be insured for $5,000 to $150,000. Other structures can be insured for up to $250,000. The insurance has a $250 deductible for residences and $500 for other structures. Only the structure can be insured, not its contents.
Although the risks associated with subsidence are relatively well known, property damage can also occur when there is upward movement of the ground supporting a building. This is known as heave. Both subsidence and heave are usually covered by your standard buildingâs insurance policy.