I have a barn that is covered on my insurance under a rider(?) for out-buildings. Anyway, the insurance brokers were having difficulty determining replacement value so I went with what the previous owners insured the buildings for and am now wondering if it's too much--the insurance bill is (I think) high. So I'm trying to determine replacement cost for my barn--it's a pole barn, double A design, 36X48 constructed of rough sawn cedar and fir. The walls are board and batten. Asphalt shingled roof. Full electricity--basics though--lights and outlets. I'm guessing it's about 14 years old. It's on a concrete slab but I don't suppose that matters since that wouldn't be need to be replaced. There's another building--detached garage that's about 1000 SFt. Both are insured for $90K replacement value--the thought being that the likelihood that both would need replacement in a disaster is slim to none.
Tags: