Did you know that if you own land that you are not using, it still needs to be insured?
While this might not seem to make any sense, there are a few reason why it need to have an insurance policy. You are responsible for anything that happens on your land, especially vacant land which can be a breeding ground for a lawsuit.
For example, if someone is injured on the land it could cause you a big headache. Having vacant land insurance will help pay for injured parties medical expenses, legal, and property damage.

The Need For Vacant Land Insurance

When you permit people to use or rent your land, even if they pay you for the privilege you are still entitled to anything that happens on your land. For example, hunters and fisherman pose heightened risks of injuries or fatal wounds. Even if something that could be considered their fault.  Also ATV riders or hikers can also pose a threat if they are injured on your property.

Your Assets

If there is one other kind of insurance you should have on a vacant land it should be umbrella insurance. This is added to liability coverage from $1 million to $5 million, and is used if a lawsuit maxes out a homeowners policy limits. This coverage will then kick in. Your agent can help you find the right insurance plan for your land.

Talk with your agent and see what is available for you and if anything can be added to your existing policy. Brazelton Insurance Group can help you find the right insurance plan for you.