Owners frequently hold a vacant lot alongside a rental and insure neither of them properly. Land with no building still carries liability, and no homeowners policy covers it.
Vacant land liability is a separate, inexpensive policy. Nothing you already hold covers a lot you do not live on.
Three things about owning ground with no building on it.
Someone injured on a lot you own can make a claim against you, whether or not anything is built there and whether or not you invited them. A homeowners policy covers the residence premises; it does not extend to a separate parcel elsewhere. Owners routinely hold land with no liability cover at all.
Vacant land liability is usually a modest annual premium, and it can often be added to an existing policy or written alongside an umbrella. It is one of the least expensive gaps to close once somebody points it out.
An old well, a wash, a derelict structure or anything children find interesting increases the exposure considerably. Securing or removing those is as valuable as the policy itself.
The parcel as its own risk.
Lots held for the future are the most commonly uninsured thing on a schedule.
Wells, structures and washes all change the exposure.
Usually yes, provided the land is listed.
Tell us about any land you own beyond the house, and what is on it.
