Insurance for vacant property??? (Cookeville, Jamestown: transplants, renters, condo)

[oldvett1963]

hELLO==DOES ANY ONE HAVE ANY INFO ON INSURING VACANT PROPERTY??i,M CONCERN THAT LIABILITY MIGHT BE AN ISSUE-MANY FOLKS USE OR PASS OVER OUR PROPERTY W/O OUR PERMISSION-WOULD BE ABLE TO BE SUED IF INJURY HAPPEN TO A DRIVER OF AN OFF ROAD VEHICLE??I' V CALL INSURANCE AGENTS IN JAMESTOWN AND COOKEVILLE=SEEMS MOST WILL NOT WRITE A POLICY IF ITS NOT PRIMARY DWELLING=THEREMUST BE A WAY. ANYBODY HAVE AN ANSWER OR AGENT I COULD TALK TO??DO YOU PEOPLE FEEL ITS NECESSARY TO INSURE??THANKS IN ADVANCE JERRY WILDER TN PS A STICKY QUESTION BUT I WAS WONDERING HOW YOU FOLKS FEEL ABOUT OTHER FOLKS USING YOUR PROPERTIES FOR HUNTING RECREATION HORSE BACK RIDERS ATV ETC I KNOW LOCALS HAVE HAD USE OF VACANT PROPERTIES FOREVER BUT WITH HOMES BEING BUILT ITS HARD TO IMAGINE THE CHANGES THAT MIGHT HAPPEN WITH PROGRESS= IM CERTAINLY NOT ONE TO ROCK THE BOAT BUT I KNOW I WOULD RESPECT OTHERS PROPERTIES AND NOT TRESSPASS W/O PERMISSION==WHAT DO YOU GUYS AND GALS THINK??IM SURE THIS POST WILL BE INTERESTING

[goodbyehollywood]

Post "No Tresspassing" and "Private Property" signs all around and buy an umbrella policy for liability protection. It layers on top of your homeowners or renters policy and protects you from damage claims and lawsuits. But check with your insurance agent to make sure this covers you.

I've never insured vacant land, and I don't know anyone who has. It's not the land you want to protect; it's you, so I don't think a land policy would achieve your objective. If you really have an issue, you could put up a fence to deter some tresspassers, but that would be expensive, and if people want on your land, they're going to go there.

People tresspass. They post unwanted advertising signs, dump trash, take their animals and do whatever they want on vacant lots. Post the signs to cover yourself legally and up your insurance to guard against claims. Good luck!

[Sparkman]

While I do own a Tn condo, I am also an Insurance agent in Il. So I am pretty well qualified to anwer your questions. The main concern I have is the ANY buildings on this property? If not, then your own homeowners policy should cover this land. Check with your agent to confirm. If there are structures on the property, then your need to purchase a policy to cover this. You'll probably just have to check with a few brokers, some have have companies who cover this risk, most companies do not. Get a referal from your own agent, he may have some ideas. An umbrella policy is a good idea, but it is excess liability and won't cover from dollar 1. Usually the underlying limit required for the umbrella in $300,000 of liability on each property insurance policy you have.

Also, please don't type in all capital letters, it is hard to read and considered shouting in the online world.

[2mares]

We had an awful time insuring the vacant burnt out house we were renovating about 10 yrs ago. Our loan was a construction loan instead of mortgage an I finially had to go to an old family friend that was an agent who fudged a little to get us ins. coverage. I have also had a 10 acre vacant lot for several yrs. and dont have it insured.

As far as property use, Ill give you my biased opinion as a horseback rider and I dont mean to offend anyone this is jmo and what Ive heard from many folks. Ive been on the Cumberland plateau for 33 yrs. before the recent development (invasion) folks used the vast land and old logging trails with no problems. Local farmers and land owners didnt mind as long as you did no damage. They would even stop and chat. Now everywhere you look there are no tresspass signs. Even along the roads. All trail heads are gated off. I think it is sad. I know its their property and seeing some of the trash I have I can understand why some of this has happened. But that is one of the reason some long time locals dont like the transplants to TN. They dont seem to have a sharing attitude. They move into big new developments adjacent to the large tracts of land that had been historically shared by the commumity, put up signs, dont want anyone who is not a property owner there to even look at the land. It says to the locals, we have the $ to buy all this up, we are better than you and dont want you here messing up our slice of heaven.

Ive read several post from those looking to relocate wanting someplace they can hike, hunt, fish, ride atvs and horses, etc. like you can just go out your back door and do it. Well, that is fast becomming a thing of the past. Now you have to load up, drive to a crowded state park, have all you papers in order, and often pay fees to do these activities.

I now have 45 acres with some old trails. Does it bother me when someone comes up on a atv or hiking. No. Do I have no tresspass signs? I took those down when I moved in and replaced them with "enter at own risk, I may be naked".

[Sparkman]

Originally Posted by 2mares

We had an awful time insuring the vacant burnt out house we were renovating about 10 yrs ago. Our loan was a construction loan instead of mortgage an I finially had to go to an old family friend that was an agent who fudged a little to get us ins. coverage. I have also had a 10 acre vacant lot for several yrs. and dont have it insured.

As far as property use, Ill give you my biased opinion as a horseback rider and I dont mean to offend anyone this is jmo and what Ive heard from many folks. Ive been on the Cumberland plateau for 33 yrs. before the recent development (invasion) folks used the vast land and old logging trails with no problems. Local farmers and land owners didnt mind as long as you did no damage. They would even stop and chat. Now everywhere you look there are no tresspass signs. Even along the roads. All trail heads are gated off. I think it is sad. I know its their property and seeing some of the trash I have I can understand why some of this has happened. But that is one of the reason some long time locals dont like the transplants to TN. They dont seem to have a sharing attitude. They move into big new developments adjacent to the large tracts of land that had been historically shared by the commumity, put up signs, dont want anyone who is not a property owner there to even look at the land. It says to the locals, we have the $ to buy all this up, we are better than you and dont want you here messing up our slice of heaven.

Ive read several post from those looking to relocate wanting someplace they can hike, hunt, fish, ride atvs and horses, etc. like you can just go out your back door and do it. Well, that is fast becomming a thing of the past. Now you have to load up, drive to a crowded state park, have all you papers in order, and often pay fees to do these activities.

I now have 45 acres with some old trails. Does it bother me when someone comes up on a atv or hiking. No. Do I have no tresspass signs? I took those down when I moved in and replaced them with "enter at own risk, I may be naked".

Check with your homeowners ins. agt. I'd bet your 10 acre vacant lot is covered for liability on your homeowners policy.

[2mares]

Ive never seen it listed on the policy summary. Would it be? or does a policy automatically cover all property owned. But, we recently bought another house which has a seperate homeowners policy from the first home. Now im confused.LOL

[Sparkman]

Originally Posted by 2mares

Ive never seen it listed on the policy summary. Would it be? or does a policy automatically cover all property owned. But, we recently bought another house which has a seperate homeowners policy from the first home. Now im confused.LOL

No, vacant property usually is not listed seperately, there should be a clause extending the liability to any vacant land that you own. If the 2nd policy is insured by the same co as the first, there is a chance that the liability for that policy is also extended from your 1st policy.

[2mares]

Thanks for the info Sparkman.