Hi Susan-
Best bet would be to call your insurance agent.

This may be a factor depending on the potential for flooding created by the lake. On the other hand discounts may be in line because of its proximnity to large amounts of water for fire fighting purposes.

Our recommendation is to contact an insurance agent for their input but don't forget to play the "fire safety" card.

Good luck

It depends on who has ownership and maintains the lake. If this is in a platted subdivision with common areas it could fall under the Association. If the lake or pond is on one parcel with no other shared boundries, then the owner could incur insurance costs.