The Kentucky Department of Insurance published a bulletin announcing new premium rates for the Mine Subsidence Insurance Program, effective January 1, 2025. The program covers loss to a structure caused by the collapse of underground coal and clay mines in Kentucky. This peril is typically not covered by a homeowners policy.
Additionally, the maximum total insured value eligible to be insured by the fund is being increased from $300,000 to $500,000 per structure. The additional living expense limit is being increased from $25,000 to $50,000. ALE benefits are eligible for insureds who are temporarily displaced as the direct result of damage caused by mine subsidence.
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