Skip to main content

Do You Need Insurance On Your Vacant Land?

You are purchasing land to build your dream home. However, you are going to sit on the land for a while before building. One question you may be asking is if you need insurance on your vacant land. Is it absolutely necessary or just a really smart decision? Let’s break down whether you need insurance on your vacant land.

In short answer, yes, it is a very smart decision to have insurance on your vacant land. However, in most states it is not necessary. If you are financing the piece of land, you will most likely have to have insurance on the property usually requested by the bank itself though. If you inherit the land, or it is a paid off piece of land without a structure you usually do not need it. However, protecting your investment is always a good idea.

Some things that having insurance on your land is a good idea for are if you use your land for recreational activities or allow other people to do so. If you do any type of hunting, fishing, ATV’s, or even foot traffic, it is definitely a good idea to protect yourself for liability purposes. Vacant land insurance is usually very affordable. Just remember if there is a structure it will not qualify for vacant land insurance.

If you have a piece of land and want to know your options, contact your independent agent today. If you would like us to review for you, you can click here for a quote or give us a call at 770-720-1314.