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Insurance for Vacant Land?

Posted by Geordie Romer on July 9, 2007

This is a guest post by Eric Kossian of Leavenworth Insurance
While vacant land doesn’t have any structures that could burn down, the landowner is still subject to liability lawsuits, so it is advisable to have liability insurance coverage.
To obtain insurance for vacant land inexpensively the first choice is to simply have your agent extend liability from an existing homeowners policy and/or excess liability (umbrella) policy. This costs almost nothing.
But what if you don’t currently own a home? There’s a policy you can get that will cover up to 500 acres of vacant land including up to 25 acres of lakes or ponds. There must be no structures or commercial use and no plans for development or construction during the term. (Once you are ready to build your dream home, you would cancel this and get a Course of Construction Policy which would also cover liability.)
Liability coverage on a Vacant Land Policy has no deductible and uses the expanded definition of Bodily Injury to include Mental Anguish and Emotional Distress. Premiums are low.
Eric Kossian was an Underwriting Specialist with State Farm. He owns Leavenworth Insurance, LLC. an agency providing affluent homeowners throughout Washington State with all their insurance needs. Eric can be reached at (877) 548-5488 or [email protected]



    If you’re planning to buy a home in this area, the best place to start is with the Leavenworth Home Buyer’s Guide.

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