If you live in an area where mining is or was a common enterprise you probably cut your teeth on tales of the miners and their constant search for the mother lode. Mining is a fine, proud tradition, and if you've got the opportunity to drink in the history of it every day you're a very, very lucky person. There are a few things about mining towns that aren't so lucky, however, things like mining subsidence that have the potential to destroy what it took you years to build.

Because mining subsidence can wreck an unbelievable amount of havoc with your home, it's important to make sure your homeowners insurance policy is ready for all the possibilities.

If you're not familiar with mining subsidence, it's what happens when underground mines aren't stable, can't take the pressure of the earth bearing down on them and collapse. If a mine has been built to code the damage to the topsoil and the buildings above it should be minimal-little more than a shift, maybe causing some cosmetic damages. If the mine wasn't built to code, however, it might not be far enough into the earth (current regulations state that a mine has to be at least 100 feet underground). When these mines give out they leave sinkholes and trenches in their wake.

These sinkholes and trenches are what spell disaster for your home and its foundation. The collapsing ground puts an undue amount of strain on the foundation, which gives out under the weight of the house. Please note this is a worst case scenario. Some sinkholes do little more than shift your doorways around. You want to be prepared for anything, however, and that's where your homeowners insurance company comes in.

Your homeowners insurance provider is going to be the one responsible for helping you repair your home. Before you get too comfortable, however, take a second to look at your home insurance policy. Is mine subsidence covered underneath your "all perils" or "named perils" clause? Before you automatically answer yes, take a look. Unless you've made a point of adding it to your named perils list (or your insurance agent had the sense to do it for you) you may not be covered. A quick peek at the "no no" list of your all perils policy will probably reveal the same thing. If you haven't made a point of making sure mine subsidence is a part of your homeowners insurance policy, you're probably going to be left holding the bill.

The good news is, adding mine subsidence to your policy isn't hard. Many companies offer this type of coverage as an add-on to their regular package. If you can't find subsidence insurance with a private insurer (and feel free to look around if your current homeowners insurance provider isn't giving it to you) there are numerous state and local agencies that might be able to help. Do a little snooping.

The last thing you want to do is be unprepared if and when the bottom quite literally drops out of your house.