I've received two quotes for insurance on a property I am purchasing (home+large horse barn/arena/round pen). It is being quoted like a commercial farm due to the value and specifics of the barn. Regular homeowners would not be enough.
    First off, when I try to compare them there are not a lot of specifics on exactly how the coverage works. So I'm afraid I might go with one and later find in some fine print that even though both quotes had the same 'limit of insurance" listed on the house, that they both might cover things differently. Like X isn't covered if Y happens, etc.

    Then I can't wrap my brain around how the insurance works for both the house and barn roofs. I've tried reading explanations online and it is just not completely computing in my brain.

    Quote1:
    Property Coverage: (dwelling) "Actual Cash Value Loss Evaluation for Roof Surfacing Damaged by Windstorm or Hail" So does this mean if a big tree branch goes through my roof, the fix or replacement of the roof is totally covered (after deductible). But if there is a tornado and my roof is blown off, or it is just really windy and it blows my shingles off and the rain gets in and ruins the roof, the amount they will pay out is how much the roof is actually worth after depreciation. Do these examples sound correct? And if a tornado blows my roof off and rain ruins the inside of my house, the roof has ACVR loss evaluation but the stuff inside the house, ruined by this event, is covered under the RC loss evaluation of the dwelling correct?

    Farm Building Coverage: I am confused by the loss evaluation and in what situations things would be covered, partially covered, or not covered. Under loss evaluation is shows Special,RC,ACVR. Can someone give me a real life example of how different events would be covered based on what the quote says?
    see pic in link Barn Insurance

    Then, if the quote description reads "horse stable/arena" and it should say "Horse stable/arena/round pen" (they are all connected) does the specifics of that description really matter as long as the limit of the insurance listed is enough to cover all three parts?

    Simple quotes missing specific coverage details, plus Special-RC-ACVR examples needed
    byu/DaisyBabyCat inInsurance



    Posted by DaisyBabyCat

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