Should I insure an outbuilding?

[Ken Cooper]

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.

[Lee Smith]

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..