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Public liability insurance for a vacant block
If you’ve invested in a block of vacant land it is important to ensure you are protected financially if something goes wrong.
You could be liable if someone injures themselves whilst on your land, even if they’re an uninvited guest.
Likewise if someone suffers damage to their property as a result of your ownership of the vacant land, you could find yourself liable.
Thankfully there is an extremely cost effective way of protecting yourself, by taking out public liability cover.
What’s the cost?
The cost of taking out public liability insurance for your vacant land is incredibly cheap.
Given the minimal cost of public liability insurance, it would seem crazy not to protect yourself.
The cost of not insuring your land could be enormous. Imagine if someone was to suffer a critical injury or lose their life on your land, and you were found to have been negligent.
A claim against you in this case could stretch into the millions, but with $20 million worth of public liability protection you can rest assured.
The restrictions on what types of vacant land can be insured at these low premiums are fairly minimal.
The block must be free of structures, however this does not extend to items such as letterboxes, fences, retaining walls and landscaping.
There must be no type of business or enterprise being undertaken at or from the land.
Other potential limitations may apply if the land has previously been used for landfill or has been classified as a contaminated site at any time.
Getting a quote
To obtain a quote on insurance for your vacant block simply call our office on 1300 542 245 and we’ll be happy to help.