It's vacant! Why do I need insurance?

In the last 10 years, there appears to be a real liability risk if someone comes onto your property and injures themselves on the land. Yes, the people on the land are there illegally and are technically trespassing, but there is case law that exists in most states that have favored plaintiffs with large damage awards, even when they were injured on the property of another at no apparent fault of the property owner.

In some cases, liability for the vacant property with no structures can be obtained by extending the liability policy of one's homeowner's insurance policy. Of course, this depends on the situation. One cannot extend liability coverage to 1,000,000 acres in North Dakota from a homeowner's policy in Pennsylvania.

Liability coverage from a vacant land insurance policy typically has no deductible and uses the expanded definition of bodily injury to include mental anguish and emotional distress. Premiums are typically very low because the chance of incidence is low.....but there's still a chance!!!

As always, visit us at www.elpasobusinessinsuranceagent.com