Holicent
VIP Contributor
Insurance can cover your land as well. Land is an asset that can be insured, and some insurance companies will even offer policies that cover your home, as well. If you have a high-value asset like a house or car, it may make sense to get some sort of umbrella policy that covers the contents of the home and any other valuable items in it.
To find out if your insurance provider will cover your land, call them up and ask them if they offer coverage for farmland. If not, ask what kind of coverage they do offer and what their limits are for farming-related claims. If you have enough money in your policy to cover the cost of rebuilding a farmhouse after an earthquake or tornado hits it, then you can probably afford to get some form of coverage on your land as well.
However, the insurance policy you buy for your home, car or business may not include coverage for the land on which it sits. But there are ways to insure your land that could be worth considering.
Land can be added to an existing policy by adding a rider called a "land endorsement." This is commonly done when you want to protect the value of your property, but not add any additional risk of loss. The endorsement must be written into the contract in order to take effect.
To find out if your insurance provider will cover your land, call them up and ask them if they offer coverage for farmland. If not, ask what kind of coverage they do offer and what their limits are for farming-related claims. If you have enough money in your policy to cover the cost of rebuilding a farmhouse after an earthquake or tornado hits it, then you can probably afford to get some form of coverage on your land as well.
However, the insurance policy you buy for your home, car or business may not include coverage for the land on which it sits. But there are ways to insure your land that could be worth considering.
Land can be added to an existing policy by adding a rider called a "land endorsement." This is commonly done when you want to protect the value of your property, but not add any additional risk of loss. The endorsement must be written into the contract in order to take effect.
