The Kentucky Department of Insurance published a bulletin amending a previous bulletin on Mine Subsidence insurance rates, set to be effective January 1, 2025.
The Mine Subsidence Insurance program covers loss to a structure caused by the collapse of underground coal and clay mines in Kentucky, a peril that is typically not covered by a homeowners policy.
Since the previous bulletin, the Department received multiple requests from within the insurance industry asking for the use of round numbers in the mine subsidence rate tables. The Department is responding to those requests by reissuing the rate table with rounded numbers.
The additional living expense limit available in the program was increased in the previous bulletin to $50,000 and remains the same. The maximum limit the program will insure is $550,000, representing a $500,000 limit for structures and $50,000 for ALE.
The table below shows the revised, rounded rates for residential and commercial policies. A commercial structure is defined here as a building that is not principally used for residential purposes or a house of more than four family units.
| Mine Subsidence Limits/Structures | Calculated Premium Residential | Calculated Premium Commercial |
| Up to $50,000 | 16.00 | 21.00 |
| $50,001 to $60,000 | 19.00 | 24.00 |
| $60,001 to $70,000 | 21.00 | 26.00 |
| $70,001 to $80,000 | 23.00 | 28.00 |
| $80,001 to $90,000 | 26.00 | 31.00 |
| $90,001 to $100,000 | 27.00 | 32.00 |
| $100,001 to $110,000 | 29.00 | 34.00 |
| $110,001 to $120,000 | 31.00 | 36.00 |
| $120,001 to $130,000 | 32.00 | 37.00 |
| $130,001 to $140,000 | 34.00 | 39.00 |
| $140,001 to $150,000 | 35.00 | 40.00 |
| $150,001 to $160,000 | 36.00 | 41.00 |
| $160,001 to $170,000 | 37.00 | 42.00 |
| $170,001 to $180,000 | 38.00 | 43.00 |
| $180,001 to $190,000 | 39.00 | 44.00 |
| $190,001 to $200,000 | 40.00 | 45.00 |
| $200,001 to $210,000 | 41.00 | 46.00 |
| $210,001 to $220,000 | 42.00 | 47.00 |
| $220,001 to $230,000 | 42.23 | 47.00 |
| $230,001 to $240,000 | 43.00 | 48.00 |
| $240,001 to $250,000 | 43.00 | 48.00 |
| $250,001 to $260,000 | 44.00 | 49.00 |
| $260,001 to $270,000 | 44.00 | 49.00 |
| $270,001 to $280,000 | 45.00 | 50.00 |
| $280,001 to $290,000 | 45.00 | 50.00 |
| $290,001 to $300,000 | 46.00 | 51.00 |
| $300,001 to $310,000 | 46.00 | 51.00 |
| $310,001 to $320,000 | 46.00 | 51.00 |
| $320,001 to $330,000 | 47.00 | 52.00 |
| $330,001 to $340,000 | 47.00 | 52.00 |
| $340,001 to $350,000 | 47.00 | 52.00 |
| $350,001 to $360,000 | 48.00 | 53.00 |
| $360,001 to $370,000 | 48.00 | 53.00 |
| $370,001 to $380,000 | 48.00 | 53.00 |
| $380,001 to $390,000 | 48.00 | 53.00 |
| $390,001 to $400,000 | 48.00 | 53.00 |
| $400,001 to $410,000 | 49.00 | 54.00 |
| $410,001 to $420,000 | 49.00 | 54.00 |
| $420,001 to $430,000 | 49.00 | 54.00 |
| $430,001 to $440,000 | 49.00 | 54.00 |
| $440,001 to $450,000 | 49.00 | 54.00 |
| $450,001 to $460,000 | 49.00 | 54.00 |
| $460,001 to $470,000 | 49.00 | 54.00 |
| $470,001 to $480,000 | 49.00 | 54.00 |
| $480,001 to $490,000 | 50.00 | 55.00 |
| $490,001 to $500,000 | 50.00 | 55.00 |
The rates for farm dwellings and outbuildings are:
| Mine Subsidence Limits/Outbuildings | Calculated Premium |
| Up to $10,000 | 4.00 |
| $10,001 to $20,000 | 7.00 |
| $20,001 to $30,000 | 11.00 |
| $30,001 to $40,000 | 14.00 |
| $40,001 to $50,000 | 16.00 |
The bulletin can be found here.
A discussion on the previous bulletin and rates can be found here.