Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We had our house built on app. 10 1/2 acres & now we're trying to get HO insurance. Company we thought we were going with now tells us that anything over 5 acres needs to be on a farm owners policy. The agent checked with other companies and was told the same thing. The one farm owners company we did get a quote from will do actual value, not replacement value and has a high deductible. We do not have farm animals and will not be doing big crops of anything ..... maybe just a small home garden. I know we are not the only people who have built on acreage. Any help would be appreciated. Blessings.
Some people survey off a smaller, less-costly-to-insure lot around the house (five acres or less, but the smaller the lot, the cheaper the survey will be). The rest of the land doesn't need insuring except for perhaps a liability policy.
It would be best to talk to people to see if this is feasible in terms of cost. I see it on the tax maps all of the time. For example, a house on a 1-acre lot that was obviously carved out of a larger tract owned by the same person. Whether people do this for insurance purposes, or to gain a tax advantage on agriculturally-zoned land, or both I don't know.
Also, if you do subdivide your land, very important to first consult a real estate attorney about "contiguous" lots. If you ever want to sell part of it.
Yeah, besides the house, we have an outbuilding, and to get them both surveyed for the same 5 acre tract of land without having a weird sized parcel for one or both pieces of land might be tricky, too.
Yeah, besides the house, we have an outbuilding, and to get them both surveyed for the same 5 acre tract of land without having a weird sized parcel for one or both pieces of land might be tricky, too.
So your outbuilding can be on the other tract, no biggie. It's still allyour land.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
