A. Minor damage will be excluded from coverage while major damage may require proper repairs before a policy can be issued. The insurance covers only structural damage. A. Insurance for a complete building is written for a term of one year and is annually renewable. Policies for buildings under construction have an 18 month term. Policyholders who have reached the age of 65 receive a 10 percent discount.
Discounts apply to the primary residence only.
An MSI policy covers only losses to the insured structure that occur during the policy period and which are caused by the lateral or vertical movement of the earth due to the collapse of underground coal or clay mining operations. Some noncompensable causes of damage include construction and building maintenance problems, and soil and ground movement problems. A. Coverage is effective upon the successful completion of a presales inspection and the receipt of the premium. A. Claims are filed with the appropriate field office and are investigated by the MSI Fund. Compensation for a valid claim is based on the actual cost to repair or replace covered damages and cannot exceed the value of the coverage.