Thinking about building a home in Northern Virginia?
Check out our most popular FREE download, "Build vs. Buy: Should I Build New Construction or Buy Resale in Northern Virginia?"As you search for remote Virginia land for sale, it’s important to remember that even if the property is unimproved, you still need to think about insurance.
The question is, what type of insurance coverage is right for you? Let’s take a look at the options…
General liability insurance
If you own a vacant property – land or otherwise- and someone uses it without your permission, then you might be liable if that person gets injured on your land.
As a land owner, be aware that people could be using your property without your permission for activities like riding ATVs, fishing, or hunting. Each of these activities carries considerable risks.
There have been landmark cases in which property owners were held liable for injuries sustained on their property by people who were trespassing.
Of course, even if you have granted permission for someone to use your property, you could still be held liable for any injuries they incur. Therefore, general liability insurance is a smart investment.
There are several options for general liability coverage. In some cases, you can get a separate endorsement on your homeowner’s policy. Otherwise, you can obtain a separate policy. Check with your insurance provider to find out what options they offer.
Sometimes, general insurance is referred to as an umbrella policy. This type of coverage is a good idea, even if you have other insurance that you think covers your needs. An umbrella policy kicks in if you have issues above and beyond what your other insurance will cover. For instance, if you have an accident that exceeds your auto insurance coverage, umbrella insurance will kick in to cover the rest.
Home insurance
If you plan to build on your property, then you need to read your homeowner’s policy carefully. Many homeowner’s policies only have limited coverage on the land surrounding the property.
If you have a structure, such as a barn or shed, then it might not be covered if it is more than 150 feet from the main home site. You might need a separate policy for the land and any additional structures.
If you’re searching for remote Virginia land for sale, then you might be interested in agricultural and related business uses. Your homeowner’s policy might not cover losses to business materials that are stored on the property. In this case, commercial insurance might be more appropriate.
Equipment insurance
If you use your rural land for raising animals, crops, farming, or related purposes, then you might consider equipment or animal insurance. Perhaps you require a tractor, brush hog, or ATV to manage your property. If so, make sure your equipment is covered.
One of the reasons people consider buying remote Virginia land for sale is to raise livestock. Even if you are not in the business of raising livestock, your animals could create a liability. For instance, if your cow escapes and causes an accident on the road, you could be liable. A more common liability scenario is when one of your animals escapes and destroys your neighbor’s cash crop.
Flood and fire insurance
In most cases, flood and fire insurance is unnecessary for unimproved land. However, if your land contains valuable timber or cash crops that could be wiped out in a fire or lightning storm, then it might be worth considering flood and fire insurance. In most cases, however, this type of insurance is more important when you need to protect houses, equipment, or other structures on the property.
Accident insurance
Accident insurance is something every property owner should consider. We all know the cost of medical care is astronomical, and one trip to the emergency room can be devastating. Unfortunately, hunting and fishing accidents do happen, even to the most careful people.
Even something relatively minor like stepping on a nail or cutting yourself on broken glass can turn into an expensive liability. Vehicle accidents are another potential liability. Your automobile policy will not cover your tractor or ATV.
Enjoy your property without worrying about liability
Many people tend to downplay the risks when purchasing recreational land for sale in Northern Virginia. Don’t be one of them! Injuries happen all the time, so it’s best to be properly insured. While insurance on vacant land is not required in Virginia, it’s certainly a good idea. No one likes to think of the worst case scenario, but having insurance means that if something does happen on your property, you greatly limit your risk.
Where to find recreational land insurance
In some cases, your homeowner’s policy might already cover your land or can be easily extended. Some companies offer discounts when you extend your policy and include additional property, so be sure to ask your agent. The cost of the additional policy can vary, but in most cases, insurance for vacant land is quite affordable.
The best place to begin your search for insurance when you buy remote Virginia land for sale is with your own insurance agent. Some companies can easily add to your existing policy or have inexpensive policies available. However, some homeowner’s insurance companies only insure certain types of property and do not cover vacant land. Some companies specialize in insurance for recreational land and can guide you towards the best coverage for your particular situation.
If your homeowner’s policy does not cover recreational or vacant land, then another option is to contact your local extension agent. They may be able to recommend a reputable insurance agent and other resources to help you get the most out of your property. The Virginia Farm Bureau is another good resource.
As you can see, when you buy land for sale in Northern Virginia, there are many good reasons to carry insurance on the property. The last thing you want to think about when you’re looking for remote Virginia land for sale is liability. Instead, you should be having fun and relaxing in the country. Having insurance means you can have peace of mind as you enjoy your property to its full potential.
If you’re ready to begin your search for land for sale in Northern Virginia, you can contact me anytime at 202-750-4050 or kennedy@kennedysellsva.com.
