Building a barndominium

[SirReal63]

That's who finally insured ours, but we are underinsured on it, no doubt.

We may be over insured but our agent based it on replacement costs. Because I did almost every bit of the work on our house, what we have in it is substantially less than it would cost to have it done by contractors. The good news is if we sell we will just about triple our investment.

TFBI was amazing to work with, USAA was not, they would not insure our Barndo.

 

[mrblanche]

Does your policy have 80% co-insurance requirement for replacement cost?


TBS

Not sure what you mean by that.

 

[two_bit_score]

Not sure what you mean by that.

>>>>coinsurance provision. (1) A property insurance provision that penalizes the insured's loss recovery if the limit of insurance purchased by the insured is not equal to or greater than a specified percentage (commonly 80 percent) of the value of the insured property.
coinsurance provision - Insurance Glossary | IRMI.com<<<


You mentioned that you were probably underinsured. A lot of people find out that being underinsured can cause the co-insurance penalty to kick in and cost them money in the event of a loss if they aren't carrying coverage of at least 80% of the replacement cost value. It applies to the replacement cost portion of your claim.

If you are not sure you should discuss it with your insurance agent. Before a loss, preferably.


TBS

 

[two_bit_score]

We may be over insured but our agent based it on replacement costs. Because I did almost every bit of the work on our house, what we have in it is substantially less than it would cost to have it done by contractors. The good news is if we sell we will just about triple our investment.

TFBI was amazing to work with, USAA was not, they would not insure our Barndo.

You could probably use the TBN thread on your place as proof of all the work you've done. Probably be the best documented claim the insurance company ever saw.

TBS

 

[SirReal63]

I could if photobucket didn't have the pics hostage. My insurance agent did pull pics of it all along the way and has them in our file. We started with them for tractor insurance and then construction insurance and finally full coverage of the buildings and contents. USAA would do none of those, we may even switch automobile insurance to a Farm Bureau.

 

[joeu235]

Making some more progress framing the second story.

 

[SirReal63]

Nice work!

What are your insulation plans?

 

[KubotainNH]

Looks good. Any plans for windows? I see what looks like a 2nd floor door, egress?

 

[joeu235]

Nice work!

What are your insulation plans?

I'm going to have closed cell foam sprayed after I'm done with plumbing & electrical. Depending on how expensive it is, I'll either have it all closed cell foam or a layer sprayed directly on the metal and then fiberglass batts.

 

[joeu235]

Looks good. Any plans for windows? I see what looks like a 2nd floor door, egress?

Windows are next on the list. One in each upstairs room and two in the living/kitchen room downstairs. 2nd story door is to allow usage of the fork lift to put stuff upstairs in the future when it's just storage.