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Updated over 9 years ago on . Most recent reply

Ken Cooper's profile image
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Ken Cooper
  • Investor
  • from Redondo Beach, California
  • Member since Oct 27, 2013
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Ken Cooper's profile image
Ken Cooper's profile image
Ken Cooper
  • Investor
  • from Redondo Beach, California
  • Member since Oct 27, 2013
Connect
Ken Cooper
  • Investor
  • Redondo Beach, CA
21
Votes |
95
Posts
General Landlording & Rental Properties

Should I insure an outbuilding?

Ken Cooper
  • Investor
  • Redondo Beach, CA
Posted

I am getting close to closing on my first rental property! It has a small shed in the back yard.  I was wondering if I should insure this or not.

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Lee Smith's profile image
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Lee Smith
  • Residential Real Estate Broker
  • from Indianapolis, Indiana
  • Member since Oct 30, 2009
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Lee Smith's profile image
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Lee Smith
  • Residential Real Estate Broker
  • from Indianapolis, Indiana
  • Member since Oct 30, 2009
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Lee Smith
  • Residential Real Estate Broker
  • Indianapolis, IN
304
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477
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Lee Smith
  • Residential Real Estate Broker
  • Indianapolis, IN
Replied

Unless it's livable don't bother... Most sheds can be purchased for less than $1000.00. I am not sure what your deductible is, but would you really want to make a claim on it regardless? I keep insurance for disaster scenarios.. I don't make claims unless it's a catastrophe.. 

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