What's new for 2027
Effective January 1, 2027
New Deductible Options for 2027
New $15,000, $20,000 and $100,000 deductibles for farm and dwelling fire policies, with premium credits of 25%, 30% and 60%.
Effective January 1, 2027
2027 Rate Changes
Rates go down in 2027: a 15% decrease on homeowner and dwelling fire, a 7.6% average decrease on farm and four new discounts.
Effective January 1, 2027
Roof-Only ACV and Matching: 2027 Homeowner Form Changes
Starting in 2027, homeowners and dwelling fire policies get replacement cost on siding, doors and windows, with ACV on the roof only, plus a revised FMIA 125 that limits matching for obsolete materials.
Effective January 1, 2027
Homeowner Changes
More 2027 homeowners and dwelling fire changes: a 15% rate reduction, commission back up to 15%, a 1% wind/hail deductible and expanded claims-free discounts.
Effective January 1, 2027
Homeowner Moratorium Change
The homeowners and dwelling fire moratorium lifts March 1, 2027, opening 46 of 54 counties, while the 8 most concentrated counties stay closed for now.
Effective January 1, 2027
Other Changes
The replacement cost requirement stays at 100% for dwellings and outbuildings, and earth homes with dirt, grass or rock roofs will be non-renewed.
Effective January 1, 2027
Dwelling Inflation Guard
Inflation guard on all dwellings drops from 6% to 4% for 2027, with slightly smaller value increases and slightly lower premiums going forward.
Effective January 1, 2027
Metal Roof Discount
A new metal roof discount for dwellings with a 100% metal roof: 5% on farm policies and 10% on homeowners and dwelling fire policies, added automatically at the anniversary.
Effective January 1, 2027
Cyber Coverage
Cyber coverage will be added to all policies with a Grinnell liability in 2027. The videos explain why it’s being added, how the coverage and claims work, the limits, rejection process and pricing.
Effective January 1, 2027
Cosmetic Coverage
Cosmetic damage coverage for metal surfaces, including the 180-day reporting window, the deductible and the requirement to repair first. Machine sheds are now eligible.
Effective January 1, 2027
Debris Removal
Farm debris removal endorsement updates, including a higher $30,000 debris removal limit and $500 for tree cleanup.
Effective January 1, 2027
Hogs w/ Extended Coverage
Coinsurance, the subrogation waiver option, exclusions, post-mortem rules and deductibles.
Effective January 1, 2027
Cattle Named Peril Coverage
Updates to cattle standard coverage: a $5,000 per-head limit and the new FMIA 603 form. The video also covers the 50% coinsurance, post-mortem and Farm Pack endorsement details.
Effective January 1, 2027
Cattle w/ Extended Coverage
$5,000 per-head limit, a $250,000 heat stress limit and an uncapped 10% loss deductible.
Coinsurance, exclusion and post-mortem requirements.
Effective January 1, 2027
Supplemental Heat Coverage for Cattle
The new supplemental heat stress endorsement (FMIA 604) lets cattle with extended coverage buy heat stress coverage above the $250,000 or 1% underlying limit.
Effective January 1, 2027
On Premise Business Endorsement
(form FMIA 150)
Effective January 1, 2027
Implement Floater vs Modified Farm Blanket
Comparing the differences between the Modified Farm Blanket and the Implement Floater Coverage
Effective January 1, 2027
Claims Free Discount
20% Claims Free Discount In-Town
5% Claims Free Discount for Farms
Effective January 1, 2027
Metal Frame Building Discount
5% Premium Discount on all Metal Framed Building
Effective October 19, 2026
Excellent Producer Discount
Pork Producer Portal
Pork Producer Safety Meeting
Effective January 1, 2027
Hog Finishing Building Classes
Class 1
Class 2
Single Wide
Double Wide
Effective January 1, 2027
2027 Outbuilding Valuation and Inflation Guard
0% Inflation Guard on Outbuildings for 2027
Grain bin values decreased
Added a new rate for bins over 50,000 bushels
New Deductible Options for 2027
Effective January 1, 2027
What's changing
Starting January 1, 2027, Farmers Mutual of Hull is adding new deductible options for farm and dwelling fire policies. Agents said the jump from a $10,000 to a $25,000 deductible was too large, so two new deductibles fill that gap: $15,000 with a 25% premium credit and $20,000 with a 30% premium credit. A $100,000 deductible is also available, with a 60% premium credit. The added options give agents and insureds more flexibility in choosing coverage. Agents with questions should call their underwriter.
2027 Rate Changes
Effective January 1, 2027
What's changing
Effective January 1, 2027, Farmers Mutual of Hull is cutting homeowner and dwelling fire rates by 15%, with no rate increase on optional coverages like service line and sewer and drain backup. Farm policies will see a 7.6% average rate decrease. The amount varies by policy, but 99% of farm policies should see a decrease. Most farm rate codes go down about 3% across the board, some by more and some by less. The one increase is cattle with extended coverage, which goes up 8%. There are also four new discounts for 2027. The most significant is a 5% policy-wide claims-free discount starting January 1, 2027. The other three are the metal roof, metal structure and excellent producer discounts, each covered in its own video.
Roof-Only ACV and Matching: 2027 Homeowner Form Changes
Effective January 1, 2027
What's changing
For 2027, the new FMIA 146 replaces the RC 146 on every homeowners and dwelling fire policy. The RC 146 applied ACV to all exterior surfaces for wind and hail losses. The FMIA 146 applies ACV to roof surfacing only, so siding, doors, windows and other exterior surfaces go back to replacement cost while the roof stays ACV. The revised FMIA 125, already on all farm policies, will also be added to all homeowners and dwelling fire policies at anniversaries starting January 1, 2027. The 2027 revision clearly defines obsolescence and is limited to exterior surfacing. Under the FMIA 125, Farmers Mutual pays to repair or replace only areas directly damaged by a covered peril and won’t replace undamaged materials because they’re obsolete. For example, if hail damages one side of a home, Farmers Mutual repairs that side with like kind and quality, not all four sides. Obsolescence means property that is worn, faded, oxidized, aged, deteriorated or discontinued, and obsolete damaged property is settled at ACV. Together, the two forms pay replacement cost when materials are available and ACV when they’re obsolete. The RC 445 cosmetic damage exclusion is unchanged, and cosmetic damage coverage is still available by adding the FMIA 400, now also on select machine sheds.
Documents in this update
- FMIA 125 (01-27) 01-134 ObsolescenceDOCX Revised Open
- FMIA 146 (01-27) 01-134 ACV Exterior SurfacesDOCX Revised Open
Homeowner Changes
Effective January 1, 2027
What's changing
Farmers Mutual of Hull is cutting rates 15% across the board on all homeowners and dwelling fire policies for 2027. Several things made the reduction possible: rate increases and stricter cosmetic and ACV forms improved results over the last 12 months, reinsurance cost less at the January 1, 2026 renewal, concentration dropped in the most concentrated areas, and the company now has the capital and surplus to write at more competitive rates. The cut also rewards policyholders who stayed through the rate increases. Commission on these policies rises from 10% back to 15% effective January 1, 2027, restoring the rate reduced in August 2025. The wind and hail deductible drops from 2% to 1%, which is more in line with the industry while still protecting Farmers Mutual. New business moving from another carrier now qualifies for the claims-free discount if it was claims-free for three years with that carrier. Policies with Farmers Mutual for less than three years also qualify if they’ve been claims-free the whole time, so a homeowners policy that’s been claims-free for two years gets the discount at its anniversary.
Documents in this update
- FMIA 484 (01-27) 01-134 Wind Hail DeductibleDOCX Revised Open
Homeowner Moratorium Change
Effective January 1, 2027
What's changing
Farmers Mutual of Hull will lift its moratorium on homeowners and dwelling fire policies effective March 1, 2027. The date gives everyone time to plan and gives staff time to finish the Spectrum software conversion. The moratorium will stay in place in the eight most concentrated counties: Sioux, Lyon, O’Brien, Osceola, Plymouth, Woodbury, Cherokee and Pottawattamie. No reopening date has been set for those counties. As writing resumes, Farmers Mutual will actively manage how much dwelling risk it has in any one community, zip code or county. There are currently no restrictions on the number of policies agents can write, but technology and common sense will be used to avoid building up concentration again. Starting March 1, 2027, agents can write homeowners and dwelling fire policies in 46 of the company’s 54 counties.
Other Changes
Effective January 1, 2027
What's changing
Farmers Mutual of Hull is keeping its 100% replacement cost requirement for dwellings and outbuildings. Insuring to 100% of the replacement cost estimate has proven important in letting insureds rebuild to how things were before a loss, especially after recent total loss fires and major windstorms. Separately, earth homes with a roof completely covered by dirt, grass or rock will be non-renewed and are no longer accepted as new business. Berm homes with a normally pitched roof and asphalt or metal roofing aren’t affected. Only a small number of policies are expected to be affected.
Dwelling Inflation Guard
Effective January 1, 2027
What's changing
For 2027, Farmers Mutual of Hull is lowering the inflation guard on all dwellings from 6%, where it has been for several years, to 4%. Industry data from Verisk, e2Value and other building-cost sources would justify keeping it at 6%, but Farmers Mutual considers 4% a responsible reduction. Agents have reported that the e2Value replacement cost estimator runs high, and underwriters see estimates at or above what many homes need. Years of steady increases have put the book of business in a good place. Building cost inflation isn’t expected to rise in 2027, and the company wants to avoid inflating dwelling values unnecessarily while still making sure insureds have enough coverage for a total loss. Agents can always raise a value above the replacement cost estimate if it isn’t adequate, since those numbers are a minimum. Every replacement cost dwelling also gets an updated evaluation and inspection every three years, and recent evaluations have found values spot on or very close. The change means slightly smaller year-over-year increases in home values and slightly lower premiums.
Documents in this update
- FMIA 88 (01-27) 01-134 Inflation GuardDOCX Revised Open
Metal Roof Discount
Effective January 1, 2027
What's changing
Starting in 2027, Farmers Mutual of Hull offers a metal roof discount on dwellings whose roof is 100% metal. Partial metal roofs don’t qualify, such as a home with metal on one half and shingles on the other, or metal only on a porch or dormer. Eligible roofing includes ribbed metal with exposed fasteners, standing seam metal, metal shingles and stone-coated metal shingles. The discount is available on farm, homeowners and dwelling fire policies. Farmers Mutual tracks eligible dwellings and adds the discount automatically at the policy anniversary. If an eligible dwelling is missed, agents can submit an amendment noting the metal roof, and Farmers Mutual will inspect it or confirm it from its inspection file. Farm policies receive 5% and homeowners and dwelling fire policies receive 10%. The difference is because farm roofs generally have replacement cost coverage, while homeowners and dwelling fire roofs have ACV. The discount applies to the dwelling premium only, not the entire policy. Metal roofs are more resilient to wind and hail, last much longer than asphalt and are increasingly common, so the discount rewards policyholders for choosing more resilient materials.
Cyber Coverage
Effective January 1, 2027
What's changing
Starting January 1, 2027, cyber coverage from CyberScout, provided through Grinnell Mutual, will be added at each policy’s anniversary to every homeowner, dwelling fire and farm policy with a Grinnell liability. It replaces the identity theft coverage Grinnell removed in 2023. Iowa law requires the coverage to be added rather than offered as an option. It covers identity theft, ransomware diagnosis and recovery, and data breach investigation and notification, for both personal and farm exposures. Because it includes first-party and third-party coverage, it requires both property coverage and a Grinnell liability, so policies with an IMT liability won’t get it.
The coverage appears at the bottom of the property coverage section on the dec page. Claims go to Farmers Mutual through the online portal and are forwarded to CyberScout for adjusting, and Grinnell Mutual pays by check, the same way equipment breakdown claims work. There’s no deductible except a $500 deductible for data recovery. Homeowner and dwelling fire policies get a $25,000 limit only. Farm policies get $25,000, and $50,000 or $100,000 can be added by amendment at the agent’s request. Insureds can reject the coverage by signing the rejection form that comes with their renewal, and the coverage is removed back to the anniversary date. On new applications it’s added by default, and unchecking the box declines it. A signed rejection form is recommended for the agency’s records but not required. Renewals also include a code for the optional CyberScout website. Annual 2027 pricing is $49.06 for personal coverage and $50.94, $69.64 or $111.67 for the three farm limits.
Documents in this update
- CBF 8301 03-25 – Farm CyberplusPDF New Open
- CBP 8300 01-26 – Personal Cyberplus for Home GuardPDF New Open
- CBP 8310 01-26 – Personal CyberplusPDF New Open
- FMIA 830 (01-27) 01-134DOCX Revised Open
Cosmetic Coverage
Effective January 1, 2027
What's changing
Farmers Mutual of Hull covers cosmetic damage to metal surfacing under the FMIA 400 form. Cosmetic damage means superficial damage that changes how metal surfacing looks but doesn’t stop it from working as a barrier to the elements. Metal surfacing is the material exposed to the weather, including roofing, siding, doors, flashing and trim. Cosmetic damage claims must be reported within 180 days of the loss. The deductible is the greater of the policy’s wind/hail deductible or 10% of the cosmetic damage loss. Payment is made only after repairs are complete, and repairs must be made within one year of the loss or no payment is made. Coverage previously applied only to the dwelling and detached garage. Starting in 2027 it also includes machine sheds, but machine sheds and detached garages must be under 20 years old and have replacement cost.
Documents in this update
- FMIA 400 (01-24) 01-134PDF Revised Open
Debris Removal
Effective January 1, 2027
What's changing
Farmers Mutual of Hull's farm debris removal endorsement (FMIA 460) has a new revision for 2027 new business and renewals. In a total loss, when the cost to repair or replace a building plus debris cleanup reaches the dec page limit, the endorsement adds debris removal coverage beyond that limit. That extra coverage is the lesser of 5% of the applicable limit or $30,000, up from $15,000. The higher cap reflects larger, more catastrophic claims where $15,000 wasn't always enough. The endorsement also includes $500 for cleaning up trees downed by wind, hail, ice, snow or sleet, but only when the tree damages insured property. A tree that falls in a grove without hitting insured property doesn't qualify. The endorsement costs $35 in 2027 and is added to farm policies by default. It can be removed, but keeping it is strongly recommended. Agents with questions should contact their underwriter.
Documents in this update
- FMIA 460 (01-27) 01-134DOCX Revised Open
Hogs w/ Extended Coverage
Effective January 1, 2027
What's changing
Farmers Mutual of Hull's hogs with extended coverage starts with the MS-5 form's named perils. The extended livestock form (FMIA 601) adds extended perils, so a loss is covered unless the form excludes it. Every location with hogs should be listed on the dec page. The coverage has an 80% coinsurance requirement. At the time of loss, the hog inventory is compared with the policy's coverage amount, and a penalty applies if coverage is below 80% of total value. Insuring at 90 to 100% is recommended because hogs grow fast and markets move.
The coverage comes in two versions: the standard extended coverage endorsement, or the same endorsement with a subrogation waiver. Normally, when a custom feeder causes a covered loss, Farmers Mutual may subrogate against the barn owner. The waiver removes that possibility. The form excludes death from natural causes, from eating feed or plant matter made available, or from lack of food or water. It also excludes death more than 10 days after the sudden and accidental event and livestock insured by any other policy. The most common covered losses are fire, building collapse, pit gas suffocation, and fan or controller failures that cause gassing or overheating.
A vet must complete a post-mortem within 48 hours, and Farmers Mutual pays for it whether or not the loss is covered. Extended coverage losses carry a special deductible equal to the greatest of 10% of the loss up to $10,000, the policy deductible or any special hog deductible. The Farm Pack endorsement replaces per-location deductibles with one deductible for the whole loss and includes farm extra expense coverage. Farm extra expense is also available on its own and can help pay for removing dead hogs or moving hogs to another location. Agents with questions should contact their underwriter.
Documents in this update
- FMIA 601 (01-27) 01-134DOCX New Open
Cattle Named Peril Coverage
Effective January 1, 2027
What's changing
Farmers Mutual of Hull's cattle standard coverage is named peril coverage. It uses the MS-5 farm form together with the new FMIA 603 form. Cattle with extended coverage offers broader perils, so agents should weigh the insured's risk appetite, operation and premium when deciding which option fits. Standard coverage has a 50% coinsurance requirement. At the time of loss, the cattle inventory is compared with the policy's coverage amount, and penalties may apply if coverage is below 50% of that inventory. The per-head limit is now $5,000, up from $2,000, to better match current cattle values. A vet must complete a post-mortem within 48 hours of a death to determine whether the loss is covered, and Farmers Mutual pays for it whether or not it is. When cattle are at multiple locations, a loss affecting several of them carries a deductible at each location. The Farm Pack endorsement changes that to one deductible for the loss. Agents with questions should contact their underwriter.
Documents in this update
- FMIA 603 (01-27) 01-134DOCX New Open
Cattle w/ Extended Coverage
Effective January 1, 2027
What's changing
Farmers Mutual of Hull's cattle with extended coverage starts with the MS-5 farm form's base perils. The extended livestock endorsement (FMIA 602) changes that from named peril coverage to special form coverage, so a loss is covered unless the form excludes it. Every location where the insured has cattle should be listed on the policy as an insured premises. The coverage has an 80% coinsurance requirement. At the time of loss, the cattle inventory is compared with the policy's coverage amount, and penalties may apply if coverage is below 80% of actual value. Insuring at 90 to 100% and reviewing inventories often is recommended because cattle markets move quickly. The form excludes death from natural causes, from eating feed, plants or other material made available, or from lack of food or water. It also excludes death more than 10 days after the sudden and accidental event, death of unborn or aborted fetuses, and livestock insured on other policies. A vet must complete a post-mortem within 48 hours, and Farmers Mutual pays for it whether or not the loss is covered.
For 2027, the per-head limit rises from $4,000 to $5,000, and higher-value animals can be listed individually under extra underwriting requirements. Heat stress losses have a per-occurrence limit of the greater of $250,000 or 1% of the policy's coverage limit. The $250,000 is an increase, and blizzard no longer falls under the special limit. Losses at multiple locations count as one occurrence, but each location has its own deductible. Adding the Farm Pack endorsement reduces that to a single deductible, which is recommended for insureds feeding cattle at multiple sites. Claims under this form carry a special deductible equal to the greatest of 10% of the loss, the policy deductible or any special cattle deductible. Starting in 2027, the 10% is no longer capped at $10,000. Heat coverage is limited because of reinsurance requirements and the catastrophic potential of a heat event, though in Farmers Mutual's experience the limits have rarely come into play. Agents with questions should contact their underwriter.
Documents in this update
- FMIA 602 (01-27) 01-134DOCX Revised Open
Supplemental Heat Coverage for Cattle
Effective January 1, 2027
What's changing
Starting in 2027, insureds with cattle with extended coverage can add the supplemental heat stress endorsement, form FMIA 604. Under the FMIA 602, heat stress losses are limited to the greater of $250,000 or 1% of the coverage amount. The FMIA 604 lets the insured buy an additional limit on top of that. For example, an insured who wants $350,000 of heat stress coverage would add the endorsement with a $100,000 limit. The endorsement should be added at new business or renewal and left on year-round, since the premium is fully earned. A supplemental application is required. It’s available in the Agent Reference and asks about shade, water, management practices and loss history. The underwriter must approve the application before the coverage is added.
Documents in this update
- FMIA 602 (01-27) 01-134 Cattle w/ Extended coveragePDF Revised Open
- FMIA 604 (01-27) 01-134DOCX New Open
On Premise Business Endorsement
Effective January 1, 2027
What's changing
Starting in 2027, Farmers Mutual of Hull is adding an On-Premise Business Property Endorsement (form FMIA 150) for farm policies. It's meant for farm operations that run a non-farming side business to supplement their farm income. The endorsement covers the buildings used for that business and adds a 10% surcharge to each of those buildings, plus a $200 flat fee per policy. It also raises the business personal property limit from $2,500 to $50,000 on the insured premises and $5,000 away from the premises. The policy still needs underlying contents or farm blanket coverage for that higher limit to apply. The FMIA 150 must be signed by the insured and must describe the business activity and list which structures are used for it. The endorsement is property-only. It provides no liability coverage, isn't meant to replace a commercial policy, and may not meet every need of the business. Examples of businesses that may fit include trucking, seed dealers, craft or hobby shops, repair shops and woodworking shops. Eligibility is at the underwriter's discretion, so agents should contact their underwriter about possible fits.
Documents in this update
- FMIA 150 (01-27) 01-134DOCX New Open
Implement Floater vs Modified Farm Blanket
Effective January 1, 2027
What's changing
Farmers Mutual of Hull offers two ways to insure farm machinery. The modified farm blanket, written on the MS-6 form, is where most farm equipment goes. It covers equipment on a single blanket list and covers more perils than the standard named peril option. The implement floater schedules each piece of machinery as its own item. Starting in 2027 it uses the new FMIA 21 form (previously MS-21), which is all-risk, so a loss is covered unless the form excludes it. The floater includes foreign intake coverage and cab glass coverage with a $100 deductible, even though cab glass doesn't appear on the dec page. The blanket covers foreign intake only with the Farm Blanket Foreign Intake Endorsement, which is fully earned, and cab glass only with the cab glass endorsement. Leased equipment and equipment used for custom work aren't eligible for the blanket and must be written as Implement Floater Leased or Implement Floater Custom. Floater items are rated as harvesting or non-harvesting. Both get the same coverage, but the higher harvesting rate applies to combines, heads, balers, manure spreaders, choppers, windrowers and bale processors. Once an insured has three, four, five or more eligible floater items, it may cost less to move them onto the blanket and add the foreign intake endorsement, so it's worth quoting both ways. Agents with questions should contact their underwriter.
Documents in this update
- MS 6 (01-00) MODIFIED SCHEDULED FARM PROPERTYPDF Revised Open
Claims Free Discount
Effective January 1, 2027
What's changing
Farmers Mutual of Hull currently gives a 20% claims-free discount on its Home Guard, Home Security and Tenant policies. Starting in 2027, it will add a 5% claims-free discount on farm policies, covering Farm Selector, Farm Security and Security Plus. A policy qualifies after three years without a paid claim. The company adds the discount at the first renewal after a policy becomes eligible and removes it at the next renewal after a paid claim, so agents don't need to track it. Equipment breakdown, inland marine and farm cab class claims don't count against claims-free status, even when they're paid. Also starting in 2027, new business can qualify: insureds who have been claims-free for three years with a prior carrier, or who are buying their first policy, can start with the discount. The underwriter may ask for loss runs as documentation. Agents with questions should contact their underwriter at Farmers Mutual.
Metal Frame Building Discount
Effective January 1, 2027
What's changing
Starting in 2027, Farmers Mutual of Hull will offer a 5% premium discount on farm outbuildings with metal frames instead of wood, for both new business and renewals. The company's claims experience shows metal-frame buildings hold up better and produce fewer losses, and insureds often pay more to build them. Eligible buildings include garages, utility buildings, machine sheds, commodity buildings, dairy buildings and pole barns, but not hoop buildings. The company will try to identify qualifying buildings during its exterior inspections. Jon Heeringa also asks agents to make a habit of asking insureds about metal-frame buildings when quoting and at renewal. The discount will also give the company better long-term loss data, so it can price these buildings correctly for their risk.
Excellent Producer Discount
Effective October 19, 2026
What's changing
Hog building owners have two ways to earn a 5% discount on their hog building coverage with Farmers Mutual Insurance of Hull's Excellent Producer Discount. The first is to complete the Pork Producer Portal online. Log in with your policy number, read a short training article, watch the training video, and answer a brief questionnaire, all on your own time. The second is to attend our in-person meeting on December 8 at The Ridge Golf Course in Sioux Center. Either one qualifies you for the discount.
Documents in this update
Hog Finishing Building Classes
Effective January 1, 2027
What's changing
Class 1 – Very Good Condition (20 yrs & newer)
• Replacement Cost Available
• Roof condition - no rust, missing panels
• Curtains - no tears, missing sections
• Siding - no rust, holes
• Fans - Intact, not broken or missing blades
• Good housekeeping - mowing, weeds, driveway
Class 2 – Average/Poor Condition (20 yrs & older)
• No Replacement Cost
• Roof condition- rust, deterioration, missing panels
• Curtains - tears, falling off, components gone
• Siding - rust, holes
• Fans - Falling off, missing
• Poor housekeeping - weeds, overgrowth, unmaintained driveways
Single Wide
• 84’ Wide Maximum
Double Wide
• 85’ Wide Minimum
2027 Outbuilding Valuation and Inflation Guard
Effective January 1, 2027
What's changing
Outbuilding inflation guard (FMIA 89)
The inflation guard on outbuildings will stay at 0% for 2027. Our claims experience shows the values we use to classify and insure outbuildings already match real replacement costs. New construction added to policies is also coming in at square-foot values that line up with what insureds actually spend to build. We'll keep monitoring this and review it again for 2028.
Outbuilding valuation guide
There are no changes to outbuilding values. The updates are to grain bins and to how machine shed doors are handled:
Grain bin price reduced: the price per bushel is 20 cents lower than last year.
New category for large grain bins: bins with a capacity over 50,000 bushels now have their own rate of $2.50 per bushel.
What the grain bin price includes: the per-bushel price covers the ladder and a fan. Other equipment is listed separately in the guide with estimated average values. Examples include power sweep augers, steps, spreaders, probes, and stirrators. Add these to the value when they're present.
Machine shed doors: the guide specifies what's included in each machine shed's stated value. Non-insulated machine sheds usually include a sliding door. Insulated machine sheds usually include an overhead door in the price per square foot. A hydraulic overhead door isn't included in either, so account for it when one is added, because it increases the building's value.
Documents in this update
- FMIA 89 (01-25) INFLATION GUARD 4%PDF Revised Open
- Outbuilding Replacement Valuation Guide 2027PDF New Open