Land Insurance in Massachusetts

What is Land Insurance?

Undeveloped land might not be exposed to all of the risks that developed properties face, but undeveloped land is far from completely risk-free. Should someone be injured on a parcel of undeveloped land, the owner of the land may be held financially responsible for the effects of the injuries. Land insurance helps owners who have undeveloped land in Massachusetts protect themselves from covered risks like this.

Land insurance is a unique type of property insurance that’s designed to protect vacant land. Because the insurance is unique, it’s important to work with an agent who specializes in this type of insurance when choosing a policy. A specialized agent will know what kind of land policy to look for when insuring a particular property.

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Who in Massachusetts Needs a Land Policy?

Any person or business that owns undeveloped land in Massachusetts ought to consider purchasing a land policy. Policies are available for properties that are owned by both individuals and companies, and coverage can be obtained for urban, suburban and rural properties.

While this is not an exclusive list, many people who purchase a land policy have undeveloped land that they use to:

  • Hunt or fish
  • Build a future home on
  • Invest for future earnings

Additionally, people who have undeveloped land may themselves live in the state or another state. So long as land is located in the state, a Massachusetts policy is generally the type of policy that’s needed to protect it.

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Are Landowners Required by Law to Insure Undeveloped Land?

People and businesses that own undeveloped land normally aren’t required by state law to carry insurance on the land. Nonetheless, it’s a good idea to insure undeveloped land and some landowners might have other requirements to carry a policy.

Namely, landowners who have financed their undeveloped land frequently are required by the terms of their loan to carry insurance on the property. In this situation, an insurance agent can help landowners make sure they get a policy that meets their loan’s minimum coverage requirements.

Can Property Owners Insure Buildings with a Land Policy?

Land policies generally are intended to protect undeveloped land, and that usually means the land can’t have any structures or other improvements on it. Homes and commercial buildings almost certainly can’t be insured through a standard land policy, and even remote cabins or other basic structures usually can’t be covered. 

Property owners who have land that’s even lightly developed normally need a different type of property insurance. An insurance agent who specializes in land policies can likely help find another type of policy that is suitable for improved land.

Do Land Policies Cover Hunting and Fishing?

Land that’s used for hunting and/or fishing presents special risks, as people unfamiliar with the land might be on it, firearms can lead to serious injuries, and ATVs (if used) can get in accidents. 

Land policies can be adapted to insure against these risks, although there may be specific considerations to take into account. For example, an insurance company might require the landowner to have hunters sign a waiver before they hunt on an insured property.

An insurance agent can help landowners who use their property for hunting or fishing navigate these sorts of special considerations.

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How Much Do Land Policies Cost?

Land policies’ premiums are based on many different factors, and they frequently vary as a result. Some of the factors that may impact how much a policy costs include where the insured land is located, how large the land is, what the land is used for and how many claims the landowner has recently filed.

Even with variance among premiums, however, these policies tend to be affordable. They’re usually especially affordable when compared to policies that insure land with structures on it.

How Can Landowners Get Land Insurance?

For help insuring undeveloped land in Massachusetts, contact the independent insurance agents of Roger Butler Insurance. Our agents have helped many landowners in the state find policies that are suitable for their properties, and we’re ready to assist you with selecting a land insurance policy.

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