We have a property in which a commercial appraisal was done. THere are three structures on the property, a hunting type shack, a large barn and a house. The commercial appraisal lumped all three in a value and the customer purchased insurance on the whole amount. Is that kosher or do I need three separate policies on the three separate properties? We are unsure as to how to separate the values of the three structures.

If this is a NFIP policy, it only covers one buidling. If you don;t have an appraisal that separates them, then look to other hazard insurance or get the insurance agent to help you.

What if the appraisal assigns the outbuildings as no value.

Refer to Question #9 in the interagency flood guidance.

http://www.bankersonline.com/tools/flood_faq_2011_10_17.pdf

Thank you for the link! Very helpful