Wednesday, December 31, 2008

Lowered Rates for Mine Subsidence Insurance

Effective Jan. 1, mine subsidence insurance will become more affordable for Pennsylvania residents. Residential premiums will decrease by 25 percent, while commercial rates will decrease by almost 60 percent. Acting Environmental Protection Secretary John Hanger says more than one million Pennsylvania homes sit on top of abandoned mines. He says it is a very real problem.

Hanger says homeowners can purchase mine subsidence insurance for $157 per year for $250,000 of coverage. Business owners are able to get the same amount of coverage for $314 per year.

To apply, property owners can call the Department of Environmental Protection at 800-922-1678 or visit The Web site includes information that tells visitors whether or not an owner's property sits on top of an abandoned mine.

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