If you own a piece of land then should anyone get injured on that
land then they may decide that it is your fault as the land owner and try to
claim money from you either for their injuries or damage caused to them. As it
is a type of Public Liability Insurance then for there to be a claim against
the policy the person who was injured would have to prove that the land owner
was the reason for their injuries either by not looking after the land properly
or by allowing there to be things on the land, like potholes, that can cause
injury to people walking on the land.
Many people feel that Land Insurance is something that will
probably never be needed and quite a lot feel that nothing bad can happen if
they leave the land uninsured but this is not true. Although it is true that if
you have a piece of land then you do not have to insure it by law but
especially if people walk on the land and the public have rights of access then
you could be leaving yourself very vulnerable if you don't get insurance on the
land.
If someone was to trip over because of a divot then they would
obviously want compensation if it was the land owner's fault which is where
land insurance would come in to play. If you don't have insurance and someone
trips over and breaks their leg then you will be forced to pay for the damages
to them and pay them compensation out of your own pocket.
You can insure a piece of land at a yearly price of around two
hundred pounds but without a doubt that is a better price to pay than if
someone was to injure themselves and you were forced to pay out thousands of
pounds in compensation. Land Insurance is designed to protect you from any
third party injury that the land may cause but that is only what it covers if
you have basic cover, however if you have any of the policy extras then you can
even get cover in case any animals stray off the land and cause an accident and
even employers liability insurance if you employ someone to work on the land
then you can cover in case the hurt themselves and try to sue you.
It is not just fields and roads that you can get covered as you
can insure all types of land such as development sites, brownfield and woodland
areas and some insurers can even insure things such as lakes and ponds that may
be on the land, although as they would be a higher risk than just fields they
would be a higher premium for the insurance. So whatever type of land you may
have you can get a quotation for if you ever think that someone could possibly
injure themselves on your land.
Most insurance companies will offer three levels of cover starting
at one million pounds liability and increasing to two million and five million
pounds of cover. This is the claim limit that the insurance company will pay
out which is why most people will go for the basic cover as it would be
extremely difficult to get a claims circumstance that would cost more than a
million pounds.
For more information you can visit this website that deals
specifically with Land Insurance
Article Source:
http://EzineArticles.com/expert/Nathan_De_Bond/375353
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