2012 Kentucky Revised Statutes
CHAPTER 304 INSURANCE CODE
SUBTITLE 44. Mine Subsidence Insurance
44..030 Separate premium for insurance against loss by subsidence -- Reimbursement of living expenses of displaced owner.
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<![CDATA[304.44-030 Separate premium for insurance against loss by subsidence -Reimbursement of living expenses of displaced owner.
(1)
(2)
After July 15, 1984, every insurance policy issued or renewed insuring on a direct
basis a structure located in a county or portion of a county in this state except for
counties exempted pursuant to KRS 304.44-060 shall include, at a separately stated
premium, insurance for loss occurring after July 15, 1984, caused by mine
subsidence unless waived in writing by the insured. The premium charged for
coverage shall be the same as the premium level set by the administrator. The loss
coverage shall be the loss in excess of two percent (2%) of the policy's total insured
value, but at no time shall the deductible be less than two hundred fifty dollars
($250) nor more than five hundred dollars ($500). The total insured value reinsured
by the administrator shall not exceed three hundred thousand dollars ($300,000) per
structure. The insurer shall not be required to write a policy for mine subsidence
coverage in excess of the amount reimbursable from the fund as authorized by this
subtitle.
The coverage provided pursuant to subsection (1) of this section shall also include
coverage up to twenty-five thousand dollars ($25,000) for the additional living
expenses reasonably and necessarily incurred by the owner of a residence who has
been temporarily displaced as the direct result of damage to the residence caused by
mine subsidence.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 94, sec. 1, effective July 15, 2010. -- Amended
1998 Ky. Acts ch. 483, sec. 31, effective July 15, 1998. -- Created 1984 Ky. Acts
ch. 167, sec. 3, effective July 13, 1984.
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