What it is
IL 09 03 is a schedule. It supplies information used with the state endorsement that actually provides mine subsidence coverage. It applies to the Capital Assets Program, Commercial Property and farm property coverage forms. For each structure it shows the coverage part or form, premises and building number, the Mine Subsidence limit of insurance and the additional premium. The schedule states that coverage applies "as described in the endorsement providing such coverage".
Why it matters
The Causes of Loss forms exclude earth movement, including mine subsidence. Several states with underground mining run mine subsidence programs that require or offer this coverage through state-specific endorsements. A 2024 Kentucky policy filed in federal court, for example, uses IL 09 03 07 02 to schedule a $300,000 mine subsidence limit on a commercial building.
Quoting and selling notes
- In mine subsidence states, ask whether the location is in a covered county and whether the coverage is mandatory or optional there.
- Compare the scheduled mine subsidence limit with the building's replacement cost, and explain any gap.
