Actually, liability is extended to vacant property automatically. However, and this is very important, what we consider vacant land is probably not what the insurance industry understands as “vacant”.
According to the ISO (Insurance Service Office), the advisory organization that provides standardization in the insurance industry, vacant land is considered to be a property with no man-made structures on the premises. So even if your vacant property has a pole barns, shed fence, wall, telephone pole, or a paved road, it is no longer considered “vacant land” according to the insurance definition and liability would not automatically extend.
Therefore, it is best to cover any other land owned with a premises liability policy. This is a policy that gives liability coverage for a defined piece of land (whether it is a street address, parcel ID, or even latitude/longitude coordinates).
These rates are usually based on acreage and can include multiple properties on one policy. The good news is that they are usually pretty inexpensive (minimum premiums starting at $150.00 per year).
