Do I Need To Update My Farm Property Listings Every Year?

Not all farm buildings are insured for replacement cost, generally only newer buildings, or residential buildings. These should be treated the same as a homeowner, as far as appraisal value. As many of the buildings do not have replacement cost and very few farm buildings will have "guaranteed replacement cost", it would be advisable to keep a regular review of your policy limits versus increasing building costs. Discuss this with your agent or broker if you are concerned about possibly being under-insured.