Effective 28 Aug 2014
379.827. Sinkhole loss policies authorized. — 1. As used in this section, the term "sinkhole loss" means actual physical damage to a building or property arising out of sudden settlement or collapse of the earth supporting the building, and only when the sudden settlement or collapse results directly from subterranean voids created by the action of water on limestone or similar rock formation and is evidenced by:
(1) The abrupt collapse of the ground cover;
(2) A depression in the ground cover clearly visible to the naked eye;
(3) Structural damage to the covered building, including the foundation; and
(4) The insured structure is uninhabitable, which is evidenced by an order of condemnation by a governmental agency authorized to issue such an order for that structure, where applicable.
2. Upon application, beginning January 1, 2015, the plan may issue a policy exclusively for sinkhole loss on habitational property owned by the applicant in accordance with this section to supplement the applicant's primary coverage for loss on such property issued by an insurer authorized to do business in this state. Coverage shall be only for habitational structures and shall not cover driveways or nonhabitational detached structures. Contents coverage shall apply only if there is covered sinkhole loss on the habitational structure in which the contents were located. Sinkhole coverage under this section shall not include loss for the value of the land or for the costs associated with filling a sinkhole.
3. The provisions of sections* 379.810 to 379.880 shall apply to policies issued under this section; however the plan may establish specific procedures designed to expedite approval for policies covering sinkhole loss and premiums charged therefor shall be based only on the risk for sinkhole loss applicable to such property. The plan may establish specific claims investigation procedures for sinkhole losses necessary to determine whether any claimed loss was the result of sinkhole activity rather than due to some other form of earth subsidence not covered under the policy.
--------
(L. 2014 S.B. 691)
*Word "section" appears in original rolls.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.