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I have build a barn/storage building on vacant land that I own in Missouri. The cost was approx $ 150,000. It is not a working farm or anything. Just a place to store things (tractors, etc). I am having a hard time finding an insurance company to write coverage for this. My personal agent says the company will not extend coverage from my home policy and no farm insurance companies will write it either. I’m sure someone else has been in this situation. Any ideas? Thanks!

2 Thoughts on Is insurance on a barn impossible to find?
  1. Reply
    October 15, 2011 at 12:25 am

    I know of people in your situation.. and they couldn’t get insurance either.

    Think of it from the insurers perspective. Here’s an unattended building in the middle of nowhere filled with expensive stuff. Even if you install an alarm, it’s still in the middle of nowhere. You’ve got:

    High risk
    Small market (not many calls for this)
    No way to mitigate (eliminate or reduce) risk

    Good luck to you.

  2. Reply
    October 15, 2011 at 1:02 am

    No. You just have to pay for it.

    AND, btw, with a barn on it, the land isn’t vacant any more – you’ll need to buy liability coverage for it.

    If the barn/storage is vacant (not rented, not being used by you, no one is there on a daily basis) you’ll need a vacant property policy, which can include the liability coverage.

    Go to another agent – a local, independent guy. Depending on what you’re storing there (aka, how you’re using it), it’s going to maybe cost you a lot – the liability will probably run around $ 750 (minimum) and the property will depend on how far out in the boonies it is – $ 5,000 wouldn’t be unrealistic.

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