It seems that news stories about the sinkhole phenomenon are becoming more and more frequent. These geological events can range from minor inconveniences to full-scale catastrophes. Sinkholes are relatively rare in Ohio, but they do happen. As a resident of the Buckeye State, you may want to consider protecting your property with an Ohio sinkhole insurance policy. When shopping for a suitable sinkhole insurance policy for your home, business or vehicle, you can get answers and multiple quotes from an independent insurance agent in our network. Contact a member agent near you today to learn more and to start comparing Ohio sinkhole insurance quotes.
Sinkholes in Ohio: Recent News
- A 15-foot wide, 20-foot deep sinkhole appeared in a busy Toledo, OH intersection, swallowing a car.
- A massive sinkhole in Dover, OH took only 4 minutes to devour an area of land equivalent in size to four football fields.
- A 15-foot wide, 40-foot deep sinkhole in Norwood, OH caused expensive, but reparable damages to an area home.
What Causes Sinkholes in Ohio?
Approximately 35 percent of the United States lies on weak carbonate or evaporate rock. Eastern Ohio and western Pennsylvania make up part of this 35 percent. The ground in these areas is composed largely of limestone, salt and gypsum, and these minerals dissolve in water. Therefore, saturated groundwater due to increased rainfall and flooding can cause the ground below homes and roadways to collapse into what is known as a sinkhole.
Other parts of Ohio lie atop Swiss-cheese like karst bedrock and are very susceptible to collapse. Other causes of sinkholes in this state are related to mine subsidence. A large portion of the state of Ohio is built over old, abandoned coal mines. If the structure of a mine shaft suddenly collapses, it can cause a shift in the ground or a sinkhole.
What Is Ohio Sinkhole Insurance?
Coverage against sinkholes is required to be part of the standard homeowners insurance package only in the states of Tennessee and Florida. Ohio residents who find their homes or businesses damaged or even destroyed by sinkholes often find themselves unable to collect any compensation from their insurance companies. Sinkhole insurance can be purchased as an additional rider on some home insurance and business policies, but not all companies offer this coverage as an option.
If this is the case with your current policy, you will have to purchase an entirely separate Ohio sinkhole insurance policy in order to have this extra insurance. You do not need to purchase sinkhole insurance to protect your vehicle, as damages by such an event will be covered automatically, so long as you have comprehensive coverage included as part of your car or truck insurance policy.
What Does Ohio Sinkhole Insurance Cover?
There are two basic components to sinkhole insurance coverage.
- Liability: This extra liability coverage is necessary mainly for business owners that will need to cover losses to customers’ belongings or injuries to those on the property if a sinkhole causes damages to the business.
- Property: This will cover damages to the structure of your home or business building, such as a cracked foundation. It will also provide coverage for resultant damages to the building’s contents up to the limit of the coverage purchased.
Coverage for sinkholes related specifically to mine subsidence, however, is not included in many sinkhole insurance policies. All residents of the state of Ohio are able to purchase low-cost mine subsidence insurance through the state. An agent in our network can help you find both sinkhole insurance and a mine-subsidence insurance policy to ensure that you are fully covered against all possible damages to your home or business.
Is Ohio Sinkhole Insurance Expensive?
Because sinkholes in Ohio are not as common as in many other states, coverage against them should be rather affordable. Coverage is generally less expensive if it can be purchased as a rider to your homeowners or business insurance policy. Costs will be determined by your risk of sinkhole damage, the value of your home or office building, the value of your covered contents and the materials used in the building’s structure. They only way to find out how much your policy will cost you is through comparison shopping. An agent in our network can do the legwork for you and can provide you with a variety of Ohio sinkhole insurance policies to review and compare.
Find Ohio Sinkhole Insurance Quotes
An agent in our network can help you determine the risk of sinkholes in your neighborhood and can advise you about the best Ohio sinkhole insurance quotes. There are member agents throughout the state of Ohio, so it should be easy to find an agent close by who can help you with all your insurance needs.
Contact an agent near your home or business to learn more about Ohio sinkhole insurance now.