Insurance Where to get decent insurance

[Bill_BX23]

I am interested in getting insurance coverage for my new BX23. I checked with my homeowner's policy and was quoted $122 a year for an extra rider. They did say my regular homeowners policy would cover it but only on the premises.

I also checked with my Kubota dealer and was quoted $167 per year. But when I asked him to see the coverage information or anything in writing he could not produce anything. Acted like he didn't have a clue.

I'm kinda leery about putting it on my homeowners policy since insurance companies are pretty crappy about dropping you if you make a claim.

Any other suggestions?

I tried Farm Bureau and they laughed at me, said they don't just insure tractors by themselves. Go figure.

Thanks

Bill.

 

[GaryE]

Bill,

I just insured my L3710 today, it is suppose to be here tomorrow. Ask your insurance agent for an Inland Marine policy. 20K of coverage should cost you under $300 a year.


Hope this helps,

Gary

 

[JoeR]

This is what I was told, although, if I am incorrect I would appreciate someone correcting me.

Kubota insurance usually covers fire and theft, not much else.

Homeowner's insurance covers the tractor for fire and theft as long as it is on your property.

I just purchased Inland-Marine from State Farm, and it covers transportation, fire, theft, damage on or off my property. A comprehensive policy as long as I am not using my tractor for construction purposes. They wanted to make sure I had a secure area to store my tractor and the Florida coverage cost ~400/yr. My tractor is covered even if I drive it into a pond...

Joe

 

[Junkman]

My homeowners policy covers the tractor while on my property. I don't take it off premises, because there is no liability insurance if I do. You can get a policy for the tractor physical damage, and one for the liability, but in the end, it is going to be expensive. If you are worried that if you have a claim, that your homeowners is going to drop you if you make a claim, isn't very valid now days. Seems that if you make a claim on any policy, all the insurance that you have will know about it. Insurance companies are just covering themselves at our expense. The original theory of insurance is no longer, the many pay premiums to pay for a few claims. Now it is the many pay premiums and we pay as few claims as possible... /forums/images/graemlins/mad.gif /forums/images/graemlins/frown.gif /forums/images/graemlins/mad.gif

 

[JRobyn]

I know whatcha mean about StateFarm wanting to know how "secure" the storage is..... They threatened to cancel my Inland Marine policy since I was not resident on the land where my tractor lives. That was until the local agent actually drove out to inspect the situation. After my FIL drove him through the locked cable across the main road, down a mile of axle deep mud road, through a locked gate, across 1/4 mile of muddy pasture and then through a second locked gate to the tractor (cable locked to a 80' tree), he agreed that things were plenty secure!

 

[Junkman]

What is that road like in bad weather???? /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif

 

[btolle]

I joined the Farm Bureau for $35 a year and then was eligible to buy Farm Bureau Insurance. $53 for $13,200 coverage, no liability. Covers tractor, bush hog, and box blade.

It is really an interesting policy. It is very short and says the tractor is covered for anything except for war, damage or loss because of military actions, and the other exclusions all policies have. If I roll it, drive into the lake, it catches fire, is stolen, or anything else it is covered as long as I am within 50 miles of the address I have on the policy.

Everyone needs to be aware that a lot of insurance policies do not cover anything if you are over 50 miles from your home (or policy) address.

Bill Tolle

 

[frank_f15]

My ins.co said i was protected for fire ,theft etc. as long as machine was on my property at no extra cost. But i have found that what ins. co. tells you and what they pay off on is sometimes 2 different things. /forums/images/graemlins/mad.gif

 

[Junkman]

What we Northerners forget that is in the Great Country of Texas, your property goes for miles, so it is unlikely that it will ever be 50 miles from the address on the policy unless it is an over night trip.... /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif

 

[cisco]

Many homeowner policies will cover a tractor, if on the property of the insured's home or other relevant dwelling, and used exclusively on that property. My insurance does, with no extra cost and at my request is specified by a rider in the policy. My "umbrella" liability policy (which if your home and vehicles are covered by 1 insurance company turns out to be quite inexpensive if issued by the same company - I got $2 million for about $220). You can NOT use the tractor outside of your property, if you want fire, theft or the like. You will be covered for liability if you're just helping a neighbor for the day (and run over his septic tank). Use of your tractor for reimbursement is out of the question. In such a case, obtain a commercial policy. As for Inland Marine, it seems OK, and insured my motorcycle for awhile until my insurance company finally decided to cover such (I never had a claim). My insurance company (I'm not in the insurance business) is Amica, picked because Consumer Reports rates it #1 for homeowners - it has been a bit of a pain in some respects (wouldn't insure the boat, then did, then wouldn't insure the motorcycle, then did, wouldn't insure my country dwelling because it was too close to the ocean, then did), but my only claim was handled quickly, and in full - and when I'm a bit cautious about something, such as "is my tractor really covered?", they put it in writing.