The blue grass of Horse Country and the famous fields that make Kentucky such a lovely place to live can also put its residents at risk. The ground can sometimes become unstable and collapse, creating deep caverns called sinkholes. Unfortunately, there is no warning system in place for this phenomenon. You may be wondering whether your home insurance will cover sinkhole damages, or if it is even possible to buy Kentucky sinkhole insurance. All home policies are different; some will cover damage caused by sinkholes, while others may include a specific exclusion.
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Kentucky Facts that Increase the Risk of Sinkhole Formation
- 55% of Kentucky is subject to development of karst
- 25% of the state has well-developed karst features
- Mammoth Cave has more than 350 miles of underground passages
- Nine cave systems in this state make up part of the 50 longest cave systems in the U.S.
- The Inner Bluegrass karst area is most at risk for sinkholes and includes the following KY cities:
How Do Sinkholes Form?
Sinkholes are commonly found in areas in which the ground has an excessive amount of karst, a type of rock that can dissolve in water. Different types of rock-like salt beds, gypsum and limestone contribute to the development of a karst region. Sinkhole high-risk areas tend to be in places that have little or no surface drainage. As such, over time or after heavy rainfalls, water wears away at the rock underneath the ground. When the underground cave system that forms as a result gets too big, the ground above has no support and collapses into the earth.
Do I Need Kentucky Sinkhole Insurance?
As a resident of one of the few states in the country that is at high-risk for this natural phenomenon, sinkhole insurance may be necessary to protect you against resultant property damage. Homes are not the only property at risk. If you own a business, you may want to ensure that your commercial insurance policy covers sinkhole damage. Similarly, the only way to protect your vehicle against this type of damage is by including comprehensive coverage with your automobile insurance policy.
How Much Does Kentucky Sinkhole Insurance Cost?
Premiums will vary based on risk so Kentucky sinkhole insurance quotes are typically higher than average. Factors like the location of your home or business, how it is constructed, and your requested coverage amounts will also determine your rates. If you cannot afford to purchase a separate sinkhole policy, ask your insurance agent if you can add a rider to your current homeowners insurance policy. If you have the opportunity to add this protection to a different policy that comes at a more affordable rate, it might be worth switching insurance companies altogether.
Start Comparing Kentucky Sinkhole Insurance Quotes Today
Sinkhole insurance coverage can be difficult to find. Furthermore, it can be frustrating and time-consuming to try to find good coverage at affordable rates. Instead of wasting your valuable time obtaining and comparing multiple policies, consult an agent. These independent agents can provide assistance by contacting several insurance companies with whom they have relationships. This way, they can quickly offer you a variety of Kentucky sinkhole insurance quotes and can then help you compare the coverage offered so you can make an informed decision before making a purchase.
Find an independent agent with an office near you to learn more about Kentucky sinkhole insurance.