Is there insurance to cover foundation damage caused by natural settling of the soil?

I am looking to purchase insurance to cover my slab foundation from the natural settling of the soil around my home.Is there insurance to cover foundation damage caused by natural settling of the soil?
Has it already settled?? You wont be able to purchase insurance for an existing problem? Ask your current home owner insurer if they cover it and if not, who might.Is there insurance to cover foundation damage caused by natural settling of the soil?
go to your local city or township and ask about mine subsiding problems in the area, they often will point you towards help, it will also be helpful if you know these issues before you talk to your agent about insuring the property
I believe that wouldn't be covered due to just wear and tear of the property. A claim normally has to be sudden and accidental.
Not easy
Maybe someone needs to create an insurance company just for that very reason.
Builders can purchase hydrostatic water pressure insurance to cover the walls of a basement from collapse due to settling, heavy rain damage, during the building of a home. I do not think a homeowner can cover his or her slab foundation from ';natural'; settling.





I would think you're out of luck with a home 4 years old anyway. My dad, who worked at an insurance company for 35 years has never heard of such insurance. I think the soil settling is a cost of home ownership and is not something the insurance company would cover.





Now if you had earthquake insurance coverage and the soil settled or shifted due to the earth movement during an earthquake ';event,'; that might be something you could claim. But I believe just ';natural settling'; is not an insurable thing.
Insurance policies vary from state to state in terms of wording but are more or less general in scope of coverage and exclusions. You should check your own homeowners or dwelling policy to be certain.





More than likely your insurance policy will contain an exclusion for this sort of thing. Specifically, it will say something like: we do not insure for loss caused by settling, shrinking, bulging or expansion, including resultant cracking of foundations, walls floors or ceilings. There is a general rule of thumb you could remember. Insurance is designed to cover things that are sudden and accidental in nature. Insurance is not designed to cover things that are gradual in nature, occurring over time or something you could expect to definitely happen (as opposed to a mere chance of occurrence).





Note: collapse of a structure is an entirely different peril than settling. However, when collapse would be covered and when it would not follows the above rule of thumb.
Depends on what state you live in. Some states set the standard for what can, and has to be, covered.





The most broad homeowners policy out there is Chubb's. It's for higher value homes, I think the minimum coverage amount is $500,000 on the dwelling. It DOES cover mine subsidence, but not sinkhole collapse. I'm not sure about settling.