Do I Need Coverage for Vacant Land?

Posted on June 7, 2018

Aspera Insurance Services provides solutions for difficult- to-insure Commercial Casualty risks. Many individuals and businesses purchase land as a real estate investment because it typically appreciates over time. Protecting vacant land from unwanted guests is nearly impossible; fencing is not only expensive to install and keep up, it is not a guarantee to keep out intruders.

With a recent increase in Pokémon Go and geocaching explorers, land owners may not be aware of who is on their land or why. Vacant land has general liability exposures, meaning if someone, a child for example, becomes injured on the property, the claim against the owner of the land may be made. Coverage will cover bodily injury if someone has an accident on the land and you are found to be at fault.

Risk Management & Coverage Considerations for Vacant Land

  • If your property is financed, you may be required to purchase insurance.
  • Insurance for vacant land does not include existing structures, including abandoned structures such as an old barn or shed on the property.
  • Hunting will typically have limitations on the policy.
  • All-terrain vehicles (ATVs) carry their own unique risks to anyone on your Coverage for ATV use on the vacant land is often excluded or limited.
  • Property in Florida often includes some body of water, whether large or small, water on your land opens a big exposure for drowning.
  • Posting “No Trespassing” signs along your property, at all road entrances, and along any public roads your land borders, may help reduce your exposure.

The information available in this article is for informational purposes only, and does not constitute legal advice or confirmation of coverage.