If you own land or have the responsibility for maintaining a piece of land, you may think that insurance is not important, but you would be wrong. No matter whether your land is in regular use or not, you should consider taking out land insurance.
Why? What could possibly happen?
You may be the most responsible Land or Property Owner in the world, but that does not mean you won’t be on the wrong end of a Solicitor’s letter after a member of the Public trips, falls & injures themselves on your land! What happens if a tree branch falls from your land and damages a car passing by, or worse still, injures someone. These are all scenarios that Solicitors will take on – were you negligent by not filling in potholes or not cutting back that tree?
Limits of Cover – £1 million, £2 million & up to £5 million
What is land insurance for?
The purpose of land insurance is to cover you if someone is injured on your land. This is sometimes also referred to as public liability insurance for third parties. Basically what this means is that if anyone is on your property for any reason and is injured, this insurance is available to cover any liability you may incur. This can apply to people with permission to be on your land such as visitors, people using a public right of way through your land or people who are there without permission such as trespassers.
Land insurance can also cover damage to third parties who are not on your site but either they or their property is damaged by something from your site, such as a fallen tree landing on a vehicle in the adjacent road.
What type of land might need land insurance?
Broadly any type of land could fall under this cover, whether it is in use or not. Maybe you own a piece of land in the country such as a field, a wooded area, a lake or some moorland. Perhaps you and your neighbours share a private road or a car park area. A brownfield site, a development site, retail and industrial land could also fall under this type of cover – so it is available for a very broad spectrum of land.
Your land may be disused, decommissioned or ready for development or it may be in use every day by hikers, people undertaking recreational sports, people parking their vehicles or as part of a shared communal space or community garden.
You may be aware of a specific hazard on the site such as an open body of water or a mine or there may be no obvious risk but you are just concerned people could still slip, trip or fall on your land, so have deemed it important to have cover.
Regardless of whether the land you own is listed above, any type of land can be covered, so just give us a call at Property Insurance Centre to discuss your specific insurance needs.
How much does land insurance cost?
Land insurance prices start from £87 but naturally the cost of cover varies depending on a range of factors such as the size of the land, the activities on it, where the land is and what it is near. To get a more accurate quotation speak to a member of our team at Property Insurance Centre on 0800 085 3761 and let them help you select the appropriate insurance at the most competitive price.