Barns, covered arenas, run-in sheds, hay storage facilities, and equipment buildings represent enormous value on horse properties — often exceeding the value of the residence itself. Yet structure coverage is one of the most commonly underinsured components of farm policies, with many horse property owners carrying limits set years or decades ago that bear no relationship to current replacement costs.
Construction costs for agricultural and equestrian structures have risen dramatically. A covered arena that cost $150,000 to build in 2015 might cost $350,000 or more to replace today. Steel prices, labor costs, and supply chain factors have all contributed. Horse property owners who have not updated their coverage limits in recent years are likely significantly underinsured.
Farm policies may cover structures on a scheduled basis — with each structure individually listed and valued — or on a blanket basis, where a total limit applies across all structures. Scheduled coverage provides more certainty that each individual structure is adequately covered. Blanket coverage provides flexibility but requires careful limit-setting to ensure the total is adequate.
Barn fires are among the most devastating losses a horse property owner can experience — both financially and in terms of animal welfare. Ensuring structures are covered for fire, lightning, windstorm, hail, and other standard perils is foundational. In wildfire-prone states, confirming that wildfire is covered (it typically is under fire coverage, but exclusions exist in very high-risk areas) is essential.