Barns & Outbuildings
Overview
The Barns & Outbuildings product provides coverage for any farm buildings beyond your home, such as barns, silos, sheds, grain bins, and more. Coverage limits are based on rebuilding costs, which often exceed original construction costs due to labor and material price increases over time.
Key Features:
- Replacement cost or actual cash value coverage options
- Co-insurance clause to ensure adequate coverage limits
- Choice of comprehensive or named perils coverage
- Extensions available for risks like flood, earthquake, power surge
Coverage Considerations:
- Clarify what equipment/items are included in rebuilding costs
- Understand any rebuilding clause distance requirements
- Discuss any additional coverages needed with your broker
This product ensures your farm outbuildings are fully protected against covered losses, with flexible options to tailor the coverage to your specific needs and risks.