When determining the replacement cost of farm and ranch structures, you need an accurate estimate that can distinguish between the distinct differences in farm structures. In the event of a fire or natural disaster, it is important to ensure that you have the appropriate insurance coverage that will protect your agricultural structures. The Douglas Agricultural Cost Guide is the industry-leading resource for accurately providing replacement costs for various agricultural structures.
Accurate Structure Measurements
The first part of estimating the replacement cost of a farm or ranch structure is that the measurements of a structure must be as accurate as possible. The measurements required to estimate the replacement cost are the length, the width and the sidewall height from the interior floor level to the ceiling line. Without these three measurements being as accurate as possible, the final result of the calculation/valuation will be incorrect and therefore of no value.
Measuring Irregularly Shaped Structures
When measuring an irregular shaped structure and/or a structure with additions of different ages and styles, the individual measuring must accurately provide the measurements of the main or original structure as well as each addition.
The simplest and easiest way to measure this is by making a sketch of the perimeter, also called the floor or plot plan, before measuring and to show on the plot plan/floor plan each structure and addition. You can also do this by breaking down the drawing of the structure that has multiple additions into squares, rectangles and triangles and place them without any overlapping one another. Then it is a simple case of multiplying length times width to get the area of each square, rectangle or triangle.
Unique Characteristics to the Structure
Farm and/or ranch structures can be unique in various ways like in how they are built, materials used, and the type of structure it is. Because of this, characteristics must be reviewed and included when estimating the replacement cost of farm structures. Here are the some of the characteristics considered when estimating replacement costs:
- What is the wall type of the structure?
- Is the building insulated and lined (plywood, steel, plastic panels, etc.)?
- Are there large openings in the sidewalls for natural ventilation or small openings for powered ventilation?
- Is there a manure storage tank or gutters under the floor?
- Is the floor concrete or gravel and is there any matting or other material on top of the floor?
- Is the structure serviced with electricity and water?
- What is the use of the building/structure?
- If it is livestock housing, what style of housing?
- Does the structure have oversized door openings or specialty equipment?
Replacement Costs for Farm and Ranch Structures
At Douglas Agricultural Cost guide, our specialized valuation tools have been used by industry professionals to estimate accurate replacement costs for these farm structures:
- Greenhouses
- Manure storage
- Feed storage
- Livestock housing
- Silos
- Commodity storage
- Machinery storage
- Swine facilities
- Poultry facilities
Get Accurate, Up-to-Date Replacement Cost Estimates for Farm and Ranch Structures
Farmers and agricultural industry partners can rest assured that the Douglas Agricultural Cost Guide is a reliable source of information for replacement costs for farm and ranch structures. Our guide is updated regularly to ensure that all costing data is current and reliable. Access the easy-to-use guide at any time to help you determine replacement costs for various farm structures at any time.