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  1. #1

    Default Buying insurance

    I just purchased a $20,000 tractor and would like to put some insurance on it. Just wondering what type of insurance you use and maybe cost. Also anything I should include or exclude from the policy.
    Thanks Ken

  2. #2
    Super Star Member
    Join Date
    Apr 2001
    Posts
    11,089
    Location
    PA
    Tractor
    NH TC25D

    Default Re: Buying insurance

    Check with the agent for your homeowner's policy. In many cases, your homeowner's policy will cover the tractor if you are using it on your own property.

  3. #3
    Super Member
    Rest in Peace
    frank_f15's Avatar
    Join Date
    Mar 2001
    Posts
    6,033
    Location
    BUFFALO ,NEW YORK AREA
    Tractor
    kubota b2400- R4 tires

    Default Re: Buying insurance

    as mikePA said, check with your agent, i did and my tractor is covered under homeowners, as long as u are NOT using it for hire. even if i am doing a favor for neighbor and have a mishap, it will be covered as long as i am not charging for work. any ins. people on here that would like to respond? would be interested in hearing from u.

  4. #4
    Platinum Member
    Join Date
    Jan 2002
    Posts
    856
    Location
    South West Pa/Greene county
    Tractor
    Long/Landtrac360DTC

    Default Re: Buying insurance

    I have mine on my homeowners policy, theft, damage, and liability, cost about $120 extra a year.

    Ed King

  5. #5

    Join Date
    May 2001
    Posts
    40
    Location
    south central Arkansas
    Tractor
    2001 NH 33D

    Default Re: Buying insurance

    Up until last month, i only had insurance coverage under my homeowner's. I believed that it only covered loss for theft,or if damaged by some natural event such as a tornado , wind storm,etc. My homeowner's has a $500 deductable too. For $95 a year with a $100 deductable, i have an inland marine policy on my tractor that covers everything.If i damage my FEL, it's covered,if i flip or roll it over,it's covered,even if i ruin a tire.My implements are covered also,believe it or not with $0 deductable. Policy is with my county Farm Bureau agent. Neighbor is an agent for them. I thought it would be $95 well spent.

  6. #6

    Join Date
    Sep 2001
    Posts
    199
    Location
    Hartford, South Dakota
    Tractor
    JD 1050, JD 955 MFD & Loader

    Default Re: Buying insurance

    Since mine are used for business, I insure my 1 ton dump truck, 2 trailers, 2 tractors and all attachments for $950/ year. I also carry contractors insurance, which covers the operation for $300/year.

    Paul

  7. #7

    Default Re: Buying insurance

    i just purchased my first tractor.
    L3010 hst , r4s,foldable rops, fel, block heater.
    my agent and insurance co. will insure it under my homeowners only for liability. i have to purchase an extra policy to get full 100% coverage ,@ $2.75 per $100 value.
    this can get rather expensive. the reason being that it is partialy financed through kubota, and their would be a lien holder.
    any hints, on other ins. co. with good and reasonable policies?

    wade

  8. #8
    Platinum Member
    Join Date
    Jan 2002
    Posts
    856
    Location
    South West Pa/Greene county
    Tractor
    Long/Landtrac360DTC

    Default Re: Buying insurance

    My homeowners insurance is through Farmers and Mechanics. It is a farm type policy, which means it covers my house, barn, and sheds. It also has provisions for adding on equiptment, livestock, etc. When I got my tractor I just went to my agent and had them add my tractor. Covers everything, including me damaging the tractor (rollover, hitting tree, etc.), and like I said, just another $120 a year on the policy cost.

    Ed King

  9. #9

    Default Re: Buying insurance

    I have an Inland Marine Policy on my tractor with State Farm. I have an unusual situation right now because I live in Chattanooga, TN and the tractor is stored at my daughter's property in Spring Hill, TN. (We own property next to hers that we will be building on this Spring). I had GEICO insurance on my home and autos and they did not have any insurance riders that would cover my John Deere 4300. I had to cancel all my insurance policies with GEICO (homeowners, auto, umbrella, etc.) and find a new insurance company. I checked with State Farm and Farm Bureau. Based on the total insurance costs and because the State Farm agent was a personal friend, I went with State Farm. State Farm's homeowner's policy would not cover the entire cost of my tractor (bought it new last Fall) because it was at a different location than my primary residence. It was short by over $5000 - $7,000. So I purchased an Inland Marine Policy with them that covers everything totally whether it be theft, accident or whatever.

  10. #10
    Silver Member
    Join Date
    Dec 2001
    Posts
    175
    Location
    rural illinois
    Tractor
    jd 4100

    Default Re: Buying insurance

    same here - have a rider for 120/year.
    horse prairie mutual.

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