How Much Is Vacant Land Insurance? | askBAMLand

If you are a land or property owner, chances are you have heard about vacant land insurance. Luckily, it is inexpensive and provides tremendous benefits.

The beauty of vacant land insurance is how cheap and affordable it can be for every type of property owner. The exact price will vary slightly, but for a standard vacant land insurance plan, you will pay between $25 to $50 per month. This includes everything you need for full coverage too.

Vacant land insurance is a form of insurance that covers the risk of any trespassers getting injured on your land. It will cover any costs that come with an unexpected injury from someone around your property and eliminate many of the financial risks. This guide will discuss how much vacant land insurance is and why you need it.

When finding vacant land insurance, we recommend checking with multiple providers to find the best price. Overall, it is considered cheap and only costs a small monthly fee but you should also consider the full benefits each plan is providing too.

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How Much Is Vacant Land Insurance?

Vacant land insurance is a type of insurance that covers the risk of changes in property value or loss due to development. The cost of vacant land insurance depends on a variety of factors, but overall you can expect the cost to be extremely affordable.

You also need to consider the exact policy you will need for your plot of land. The traditional method is to get General Liability Insurance Cover and the cost will range between $25 to $50 per month.

This pricing estimate is on a standard $1,000,000/$2,000,000 liability insurance coverage plan. That means you get $1,000,000 in coverage per occurrence or a $2,000,000 aggregate for the year.

This is a type of liability insurance, meaning you get protected if someone tries to sue you for damages or injuries.

Vacant land insurance policies can be found online or through a broker. The cost of these policies depends on the amount of coverage purchased, the age and location of the property insured, and more.

Do You Need Vacant Land Insurance?

Vacant land insurance refers to a property coverage policy that will protect you from financial loss if a property is damaged or destroyed.

Getting vacant land insurance is not required by law, but for the low cost, it is smart to protect yourself and your family. It will keep you protected if anyone wanders onto your land and an injury occurs.

The reason why people buy vacant land insurance is to help cover themselves from a wide range of potential problems. If someone owns a vacant building but does not have proper property insurance, they could face legal troubles if unauthorized patrons get hurt while on your property.

You may be wondering if trespassers are allowed to sue you if something happened on your property. The answer is no, but some factors will impact exactly how things might turn out.

You will not be held responsible if a trespasser gets hurt on your land. However, if you are aware people are trespassing and do not make any changes to protect the people on your land you can be held responsible for anything that happens.

Why Do You Need Vacant Land Insurance?

While this is not a necessity for everyone, vacant land insurance is worth it because of the many benefits and protections that you can get. Landowners are protected from trespassing and any potential injuries that could occur on your land.

A vacant land insurance policy is an important part of protecting the property owners from any potential accidents that may occur on their land. It provides a wide range of coverages too, so you won’t be stuck paying for anything unexpectedly.

While it may not seem necessary, it is considered a must-have because it is affordable and it will allow you to sleep at night without concern.

What Does Vacant Land Insurance Cover?

Vacant land insurance policies are available for both commercial and residential properties and can be used to cover any accidents that could occur on the property. This type of insurance will protect you from a wide range of fees or lawsuits too.

Some of the things your vacant land insurance will cover include medical bills, lost wages, and much more.

Medical Bills

Vacant land insurance is a type of insurance that covers the medical bills of people injured while on your property. It was designed to help protect people from injuries that may happen when they are in an empty building.

This is the most critical part of the coverage because an injury that requires hospitalization can get extremely costly. This would be a significant sum of money to be paid directly out of pocket, so it is important to get this insurance coverage.

Pain & Suffering Claims

Many people have injuries on vacant land because they don't have any warning that somebody might be trespassing or vandalizing the place. This can cause pain and suffering lawsuits from something unexpected that happens.

Vacant land insurance policies cover losses and pain and suffering experienced by somebody who is injured on your property. This policy is designed for vacant properties that are left unoccupied for extended periods.

Lost wages

Another common claim or fee from lawsuits due to injuries is lost wages. This is when someone is hurt and they are forced to take time out of work, making the person involved in the lawsuit responsible to cover those wages.

Luckily, vacant land insurance will cover this too. That means you are getting added protection for anybody who trespasses on your vacant land and gets hurt badly enough that they are forced to miss time at work.

Death Benefits

Vacant land insurance will cover the death benefits if someone injured on your vacant property dies. This is especially important if they are operating in hazardous areas with more dangerous surroundings like water or rocks.

These claims are much more severe, so you must check with your insurance provider. You want to include this benefit with your insurance plan to keep you protected because death benefits can be the most costly situation you would deal with.

Legal & Court Costs

Landowners need to be cautious about the risk of potential lawsuits that may occur because of their vacant land. Vacant land insurance will cover legal fees and court costs in case someone comes to you and files a lawsuit against you for any injuries.

This is necessary because long-lasting lawsuits can run up the bill with any lawyers, so this is considered a must-have aspect of vacant land insurance.

What Is Not Covered By Vacant Land Insurance?

While we do highly recommend vacant land insurance, it does not cover everything so you should know what to avoid. The things listed below are not covered by this type of policy, but there are other insurance types you can get for these.

Purposely Inflicted Injuries

Vacant land insurance does not cover any intentionally caused damage incidents that happen to a person on the property. This is intended to avoid anyone taking advantage of the insurance system, and claims like this would be considered fraud.

This is why you will need professional help and lawyers during any claims, to ensure everything is understood properly to avoid any issues with the insurance company.

Worker Injuries

One of the major concerns that property owners have is the safety of their workers. This is especially true in the case of construction sites as more and more people are working on site.

The vacant land insurance policy does not cover any accident that happens on the property to a worker. This policy is only intended to protect you from people trespassing and taking advantage of the vacant land.

Landowner Injuries

Lastly, you will not have any cover for yourself with this type of policy. If you were to get hurt and face a hefty medical bill, you would need traditional health coverage for that because vacant land insurance does not insure the property owner.


Brittany Melling

Brittany Melling

Brittany has been in the land business since 2020 when the world was starting to shut down. Since then, we’ve sold to dozens of people from ATV weekend warriors to camping enthusiasts to retired truck drivers. Our inventory spans mostly in the western United States. We’ve been trained by experience, land acquisition courses, and hundreds of hours meeting with county assessors and clerks, zoning officials, realtors, and land investors. We’ve answered hundreds of questions from people regarding the buying and use of land.

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