Double house side waiver of mountain damage compensation / insurance problems or others?

Hello,

we have looked at a house that will probably make the shortlist.

Built in 1926, solid construction. Near a former mining area Grube Reden in Saarland. Since 1992, no coal has been mined there. Mine water is still being pumped out there.

According to the realtor, a waiver of mining damage compensation is recorded in section II of the land register, which has been there for ages.

Financing is possible with a regional bank. However, I am now worried about the insurance premiums for the respective insurances, such as an elemental insurance.

Does anyone perhaps have experience with this or what would you advise me?

Thank you all

Does anyone possibly have experience with this or what would you advise me?

Waiver of mining damage has nothing to do with insurance. It only means that you do not receive any compensation from mining if damages (up to the collapse of the building) occur due to mining. Such houses are completely insurable.

I think the best way to proceed here is to check with the providers: If I were you, I would get quotes from a few insurance companies. Explicitly mention the entry in the land register during the consultation, then the advisors should also explain the consequences. And have them send me the offer in writing. Armed with that, I then study the insurance conditions.

My gut feeling as a layperson in this insurance field: Either something like ground subsidence could be excluded/restricted from coverage – or priced in with a risk surcharge. How an insurance company ultimately handles this in a specific case can vary from company to company. Or in the end, it might not matter at all.