Vacant Land Insurance for Investors and Land Bankers
Holding land as an investment doesn't reduce your liability. Cover every block on one policy, with one renewal, and add or remove blocks as you buy and sell.
Who it's for
Individuals, companies, trusts and SMSFs holding one or more vacant blocks.
Common claim scenarios
The policy covers claims you're legally liable for, up to your limit. These examples are illustrative, and whether a claim is paid depends on the facts and the policy wording.
A block you've never visited
A dead gum on a block you bought interstate falls in a storm and crushes your neighbour's carport.
How cover responds: You can be liable as the landowner even if you've never visited the block. Damage to the neighbour's carport is covered if you're legally liable.
A retaining wall gives way
On one of your blocks, an old retaining wall partly collapses into the neighbour's yard, and the council orders the area fenced off.
How cover responds: Fencing off the area is covered up to $10,000 under the temporary protection cover. Damage to the neighbour's yard is covered if you're legally liable. Rebuilding your wall isn't covered because it's your own property.
Dumped building waste
Someone dumps old fibro sheeting on a block, and it turns out to contain asbestos.
How cover responds: Not covered. Any claim involving asbestos is excluded, as are clean-up costs. Check your blocks regularly and remove dumped waste early.
Watch for
The policy must name the right owner. For a trust or SMSF, insure in the trustee's name.
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