Homeowner's Insurance for Land

[mswlogo]

It’s a good idea to have an umbrella policy.
To cover loose ends.

[TiltonBB]

Originally Posted by mswlogo

It’s a good idea to have an umbrella policy.
To cover loose ends.

Many umbrella policies require underlying insurance to meet the low end of the umbrella. That may necessitate a primary policy on the land.

For example: If you have a $1 million umbrella that starts at $500,000 you would need a policy on your other risks (home, vacation home, cars, boats, airplane, jet ski, bungee park ) that insured you for the first $500,000. That would give you a total of $1.5 million in coverage.

If you have this type of umbrella and don't insure the other risks that could leave you with a $500,000 gap before coverage kicks in.

[BillJohn]

I asked the same question years ago and was told as long as it was just land and nothing else there was no liability. If I added something to the land, such as a picnic table then I needed to insure.

Having said that I would double-check with a lawyer because what you do not know can and will hurt you.