Insurance Tractor Insurance

[dtmarion]

Question: How are you all insuring your tractors? Homeowners policy? My tractor will be for non commerical use but I may take the tractor off my property to help out family and friends on occasion. My Homeowners policy says that it will only cover it while it's on the property. What about trailering? I was also told that the tractor will not be covered while on my trailer according to my auto policy.

My local Kubota dealer said that if I finance it thru Kubota I can buy insurance for the tractor while I am financing but what happens after?


I've put a few calls in to a few loacal agents but no word yet.

Any thoughts or insights??

Thanks

Dan.

 

[MikePA]

That's the same information I received from my agent (State Farm). Since I don't plan on taking my NH TC25D off my property, I never bothered to get a quote on additional insurance.

 

[ejb]

There are a lot of posts here if you do a search, but I think you'll find that most people with smaller tractors (no insults intended) have asked their insurance company and it is covered while on the property under their homeowners policy.

My tractor is a little larger, a JD5410, and my homeowner's policy wouldn't cover it because they decided it was atypical of the type of "property" a normal homeowner might own, so I bought a dedicated policy that specifically covers it up to about $40K (included attachments).

I'd ask your company and if they say they will cover it, GET IT IN WRITING. You don't want to fight it in court AFTER you have a loss.

If you can't get a guarantee in writing, then assume you are not covered for what you want, and buy a seperate policy (unless you can self-insure).

My policy was only about $200/per year and well worth it for me. Covers it whereever I am (i.e. even if it falls of a trailer on route to somewhere else).

Good luck.

 

[boatman]

this gives you a great reason not to take your tractor off your property. ie i would love to help you this weekend but my insurance only covers the tractor at home. otherwise get a policy for the tractor.

 

[dtmarion]

ejb: What type of policy was it? This may sound like a stupid question but since my homeowners poilicy won't cover it off the property what should I be asking for from my agent or was it an extra ryder that you bought off of your homeowners policy. What company holds your tractor insurance if you don't mind me asking?

 

[ejb]

Mine is considered a contractors equipment policy I guess, but I would tell your agent what you want to cover and see how they want to handle it.

 

[radman]

I have insurance on my tractor that covers it off property and during trailering. Tractor is for personal use. I actually have 2 tractors and atv insured. Cost is about $2 / $1000 of coverage. My insurance is through Farmers Mutual Insurance.

 

[dtmarion]

Thanks for the info!

Dan

 

[SynergyDPM]

Good question. I bought an L35 (35 horsepower) in May of this year. When I called my State Farm Insurance agent he told me that it was covered under our homeowner's policy...and only on our property. He called me back in about 20 minutes and said he called the insurance company claims adjuster and corrected himself...that it was always covered! No matter where I was using it, including if I was using it at a neighbors. With so many posts (above) saying that it wasn't covered, I'd better check it out again.

Thanks,
Dave

 

[ddl]

I would get that in wsriting that your policy covered your tractor no matter where it is at(a Rider). My tractor policy is just like an auto policy and a seperated policy on the loader, so of my policy is liabilty, just incase I do something to some one esles stuff. Always get the agents remarks in writing to protect yourself.

Dan L