Annual Premium & Discounts
The annual premium is US$63 per insured parcel, including conservation easements, fee properties, trail easements and access easements.
Accredited land trusts, through the Land Trust Alliance’s accreditation program, receive a higher discount per parcel. Non-accredited land trusts receive a discount for following Best Practices. Both receive an equal discount for risk management training and bulk properties.(49)
The Land Trust Alliance offers a suite of free webinars in risk management. Terrafirma also offers a free online course: A Guide to Risk Management for Land Trusts, which will qualify a land trust for the discount.
Accredited land trusts must successfully meet the 12 standards detailed in the Land Trust Standards and Practices, established by the Land Trust Alliance in 1989. Membership in the Land Trust Alliance requires a commitment to the Land Trust Standards and Practices. Accreditation is granted through the Land Trust Accreditation Commission, which is an independent program of the Land Trust Alliance formed in 2006. (50)
Land trusts must meet all the following conditions to qualify for Terrafirma’s Best Practices discount:
- Every transaction is reviewed and approved by a qualified attorney prior to closing.
- A written policy on violation resolution is in place and followed.
- A written conflict of interest policy is in place and followed.
- Written criteria exist for selecting land and easement projects consistent with the land trust’s mission.
- Each project is evaluated for its performance of the land trust’s perpetual stewardship responsibilities.
Terrafirma membership benefits include:
- Affiliate Membership in the Non-profit Risk Management Center
- seven issues per year of Terrabytes, a newsletter covering various subjects related to best practice, legal issues, etc.
- use of the Defense Reserves Calculator to assess the level of risk associated with insured parcels
Table 4: Discounts for Terrafirma members
|Accreditation||$11 per parcel||Best Practices||$4 per parcel|
|Risk Management||$1 per parcel||Risk Management||$1 per parcel|
|Bulk Properties (250+)||$3 per parcel||Bulk Properties (250+)||$3 per parcel|
|Total Possible||$15 per parcel||Total Possible||$8 per parcel|
49. Terrafirma, Costs and Discounts
50. Land Trust Accreditation Commission, About the Land Trust Accreditation Commission