Insuring Empty Property
People often forget to insure empty lots, whether they be hunting camps, land you plan to build on in the future, or property etc.
Does your policy cover you?
- Some home owners’ policies automatically cover empty lots
- Some of the policies that cover an empty lot are voided the minute you put a structure on it.
- Some policies require you to list the property in the policy.
- Some policies charge a small fee, others charge a larger fee.
Empty property can mean large exposure to risk. People may use your land without your knowledge or permission. Unoccupied land is at risk of people using it to run recreational vehicles such as snowmobiles or ATVs or for hunting and fishing.
Talk to your independent insurance agent to find out what your exposure to risk is and make sure you’re covered.
