Insurance for Farm Land/Buildings only visited by us the family

GillyFlower

Renewal Insurance Premium just been given is £266. This is to make sure if someone trespassed, etc we would not stand to have a claim against us. Has anyone had similar experience and if so does this premium sound about right?

This is for -

• About 9 acres of land with some outbuildings in what was a farm yard. (Only pole barns and a derelick concrete shed.)
• NO house!
• We let the farmer rent the fields
• The farm yard is only accessed by us via padlock.
• We used to use one building as a craft workshop but that came to an end - no profit.

Since the family business stopped we have kept this land as we felt our money is best left here than in any form of savings bank. Our son may take his car over there and do some repairs, etc. But it is getting rather overgrown now.

I am too scared to not have insurance cover even though there are no rights of way on our land. It is just our luck someone will 'pop up' and trip!

By the way we have no chance of getting a house there although it would be a lovely site it is on the wrong side of the line for building development in fact it runs on our boundary.:(

Any thoughts would be appreciated.

InsideInsurance

Gut feel is that it looks a little high for PL insurance on a plot of land but it is probably fairly niche a product and therefore high prices.

GillyFlower

Thank yu for your response. I feel it is too high but I queried it and it is down to public liability. We have not asked for any buildings to be insured etc. I just don't want a claim against us.

Annisele

I wonder if the "derelict concrete shed" is the reason. Is it in any way attractive for local kids to play in? Is there a risk that bits of it will fall off onto the heads of said children?

huckster

I am sure for the type of product there is a minimum premium level of £200+, as below that it is not worth writing the business.

If you have any other property Insurance in the area, see whether they will extend it to include this land.

GillyFlower

Maybe that is the reason a min premium level. As for kids and concrete shed, not sure kids explore around there, but at the end of the day I cannot live on my nerves. We live about 12 miles so not sure if it could be treated as an extension but could it be worth a try? We are currently insured with NFU, just via a phone call, and I always thought they were quite reasonable for this sort of thing.

huckster

Always worth asking an existing Insurer, as I have known Insurers in the past to cover separate packets of land, even though not connected to the current property you are Insuring.

You can only ask.

GillyFlower

Thanks will try it next week.