If certain activities take place on the vacant lot, you are at increased financial jeopardy.
There are several types of insurance to consider for a vacant lot depending on its use and location.
Public liability insurance will protect you and your assets against liability for third-party injuries, damages or even death occurring on your land. This type of insurance can also cover activities that may occur in cities such as parking rentals.
Did you know that even if you're not a business owner but part of management as an officer, director or senior manager, you assume financial risk for your employees? For example, say the business where you work also owns a vacant lot next to the building, and the employees use the lot to move equipment around. If an accident occurs due to lack of safety procedures and one of your employees gets injured, you, as part of management, can be included in a lawsuit. Management liability insurance is available that protects both the business's owner and its leadership from such a scenario.
If equipment or other items are on the vacant lot, contents insurance will cover those assets. Vandalism and fire are two events that your policy would cover.
| Response | 65-74 yrs | 55-64 yrs | 45-54 yrs | 35-44 yrs | 25-34 yrs | 18-24 yrs |
|---|---|---|---|---|---|---|
| once a year | 3.11% | 2.92% | 1.45% | 2.36% | 1.46% | 2.86% |
| I never compare or switch | 1.24% | 4.09% | 1.45% | 1.97% | 2.91% | 5.71% |
| every 2 yrs | 1.24% | 1.17% | 1.45% | 1.97% | 1.43% | |
| more than once a year | 0.62% | 0.48% | 0.39% | |||
| once every 3+ yrs | 0.62% | 1.17% | 0.48% | 0.79% | 0.49% | 4.29% |
There are two main ways to obtain insurance cover – through a broker or online.
upcover is all about straightforward business insurance for independent workers and small businesses.
Find out how Elders Business Insurance might be right for you.
Complete guide to getting insurance for trucks in Australia.
Aon, a global insurance company with a wealth of experience, offers professional indemnity insurance cover to suit an extensive range of professions.
What is importers insurance? Find out why it's essential if your business imports products to Australia.
Receive quotes for CGU Business Insurance and apply for cover securely with the help of an adviser. Find out what's covered under each policy.
Personal trainers should consider a range of insurances, including professional indemnity, public liability, and life insurance.
Find protective cover for volunteer workers from Australian insurance brands. Find out what is covered and excluded under voluntary workers insurance.
Construction all risk insurance offers protection for damage to your construction project as well as injury/damages to third parties.
When faulty products cause injury or loss, your business needs to protect itself with product liability insurance. Learn how product liability cover works and get quotes.