Land Insurance in Massachusetts

Is it a legal requirement to insure undeveloped land?

Undeveloped properties usually aren't under a state legal obligation to be insured, but insurance is sometimes required if a property is financed. While lender-institute obligations are more common with developed properties, some lenders might have a similar stipulation for undeveloped properties.

Regardless of any requirements or lack thereof, insurance is generally advisable. A single horrible incident (or perhaps an opportunistic lawsuit) could have devastating consequences if no insurance coverage is in place.

Does putting up posted signs protect landowners from lawsuits?

Putting posted signs around the boundary of an undeveloped property might provide some legal recourse if an uninvited trespasser sues. These signs don't necessarily stop someone from filing a lawsuit that must be defended against, though, and mounting even an initial defense can be costly. Additionally, trespasser lawsuits aren't the only types of suits that landowners could face.

Does vacant land insurance cover small buildings on the property?

Vacant land insurance primarily provides coverage for undeveloped, raw land. As such, most policies won't cover any structures on the property, even small cabins or other buildings without power or water. These structures frequently necessitate different insurance since they alter the liability risks that a property presents.

An experienced insurance agent can assist in finding coverage for properties that have small structures.

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Do vacant land policies cover activities like fishing and hunting?

Fishing and hunting activities introduce unique liability risks that need to be considered when purchasing a vacant land insurance policy. Potential risks could include ATV or snowmobile accidents, drowning hazards near water bodies, and injuries caused by firearms.

Some vacant land policies are designed to cover the risks that come with fishing and hunting. Other policies may exclude these activities from their coverage. Landowners can work with a knowledgeable agent to find a policy that provides coverage for these activities if the coverage is needed.

How much do vacant land policies cost?

The premiums for vacant land policies can vary based on factors like location, size of the property, and its intended use. These policies are generally quite affordable, however, since most policies don't cover buildings.

How can Massachusetts landowners obtain land insurance?

For assistance with insuring undeveloped land in Massachusetts, contact the independent insurance agents at Garrity Insurance. Our agents will work with you to find a land insurance policy that'll protect your particular property well.