Why would you need Land Insurance and what does it cover?

If you own a piece of land even if it is unoccupied with nothing on it, then should anyone get injured on that land then they may decide that it is your fault as the land owner and try to claim money from you either for their injuries or damage caused to them. As it is a type of Public Liability Insurance then for there to be a claim against the policy the person who was injured would have to prove that the land owner was the reason for their injuries either by not looking after the land properly or by allowing there to be things on the land, like potholes, that can cause injury to people walking on the land.

Many people feel that Land Insurance is something that will probably never be needed and quite a lot feel that nothing bad can happen if they leave the land uninsured but this is not true. Although it is true that if you have a piece of land then you do not have to insure it by law but especially if people walk on the land and the public have rights of access then you could be leaving yourself very vulnerable if you don’t get insurance on the land.

If someone was to trip over because of a divot then they would obviously want compensation if it was the land owner’s fault which is where land insurance would come in to play. If you don’t have insurance and someone trips over and breaks their leg then you will be forced to pay for the damages to them and pay them compensation out of your own pocket.

You can insure a piece of land at a yearly price of around two hundred pounds but without a doubt that is a better price to pay than if someone was to injure themselves and you were forced to pay out thousands of pounds in compensation. Land Insurance is designed to protect you from any third party injury that the land may cause but that is only what it covers if you have basic cover, however if you have any of the policy extras then you can even get cover in case any animals stray off the land and cause an accident and even employers liability insurance if you employ someone to work on the land then you can cover in case the hurt themselves and try to sue you.

It is not just fields and roads that you can get covered as you can insure all types of land such as development sites, brownfield and woodland areas and some insurers can even insure things such as lakes and ponds that may be on the land, although as they would be a higher risk than just fields they would be a higher premium for the insurance. So whatever type of land you may have you can get a quotation for if you ever think that someone could possibly injure themselves on your land.

Most insurance companies will offer three levels of cover starting at one million pounds liability and increasing to two million and five million pounds of cover. This is the claim limit that the insurance company will pay out which is why most people will go for the basic cover as it would be extremely difficult to get a claims circumstance that would cost more than a million pounds.

Nathan DeBoon - About Author:
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