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Barn Blog

March 24, 2016

Does Homeowners Insurance Cover a Pole Barn?

A pole barn is a costly investment that should be protected with insurance. A standard homeowners insurance policy will not always cover a pole barn and its contents. Here are some tips to help you make sure you have the right coverage.

A homeowners insurance policy covers other buildings, such as garages, sheds, and some small post-frame buildings, at 10 percent of the home’s value. If your pole barn is used for farming, you will need a farm policy. If it is used for another type of business, you will need to obtain a commercial insurance policy.

If you have a new pole barn, insure it for what you paid for it, plus the cost of any improvements. Factor in costs for both materials and labor. If your pole barn is older, talk to your insurance agent to get help figuring out how much insurance coverage you need.

When you obtain an insurance policy for your pole barn, make sure the policy covers the building’s contents. If the building is covered under your homeowners insurance policy, personal property will be covered. Vehicles need to be covered under an auto policy. Farm equipment and vehicles need to be covered under a farm policy.

An actual cash value policy takes depreciation into account when the insurance company decides how much to pay for a claim. A replacement cost policy will pay for the cost to replace damaged property, up to the limits in the policy chosen by the owner.

If you use your pole barn to run a business or rent the building, you might want to add coverage for lost revenue or rent. If you have a commercial policy, you might also want to get a rider or endorsement to cover costs to keep the pole barn compliant with building codes. If you use your pole barn for horses, liability coverage can pay if someone is injured by a horse.

If you make improvements to your pole barn or purchase new equipment or property, your insurance needs can change. Review your policy every other year to make sure you still have adequate coverage.

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