Is mine subsidence insurance mandatory for property owners?

Mine subsidence insurance is considered voluntary for property owners. This means that, while it may be highly recommended for individuals living in or near areas that are prone to mine subsidence, there is no legal requirement to purchase this type of insurance.

The nature of mine subsidence, which refers to the sinking or collapse of land above abandoned mines, poses a risk primarily in regions with a history of such mining activity. Because this risk does not affect all properties universally, and many homeowners may not reside in affected areas, the option to obtain coverage is left to individual property owners based on their specific circumstances and the potential risks they face. Thus, property owners have the ability to opt for this coverage based on their assessments of risk rather than being compelled by law, which is characteristic of voluntary insurance policies.