Insurance Tractor Insurance

[Anonymous Poster]

Looking for opinions on tractor insurance. I bought a new 2210 and am looking to get it and the attachments insured. Is this something that can be added to the homeowner's policy or is a stand alone policy best?

 

[bigpete]

I checked with my insurance agent before I bought my 2210. My 2210 and its attachments are covered for "Replacement" costs under my current policy as dwelling "Contents." Also, I am covered for liability using my tractor on someone elses property as long as it is non-commercial use. The tractor and attachments are also covered during transport for non-commercial work or to and from the shop.

My agent used the purchase price etc. and spoke with the insuring company. In my case, with my policy and limits, I didn't need a policy rider or separate certificate and no additional premium. Having said all that, your agent is the only one who can tell you whether this is true for you and your policy. My agent followed up with a written reply to my inquiry, which is a good thing to have in your policy file at home.

 

[thcri]

Bigpete,

That is exactly what I found also. The key here is commercial use and charging your neighbors for work. If you charge your neighbors then it becomes commercial. If you go over there and just mow his lawn or move some dirt out of the kindness of your heart you are ok.

But I stress getting it in writing with your agent. Each Insurance Company out there does things different. A phone call and a letter from your agent is cheap.

Murph

 

[Casimir]

Yup. I got the same response from my homeowners insurance agent. As long as the tractor and implements are not used for commercial purposes, they are covered against fire, theft, etc. and liability when using it on my property.

Check with your homeowners' policy agent. If the standard coverage isn't satisfactory, you might be able to add a rider cheaper than a separate policy.

 

[thcri]

My agent said I could even take mine over to the neighbors and I still would be covered as long as I don't charge him and as long as the neighbor doesn't drive it.


Murph

 

[WCarlson]

I found that I could even store the tractor and/or implements at another location (for example, MMM in neighbor's barn during winter)and they would be covered under the homeowner's policy in event of fire , theft, etc.

 

[TerryinMD]

As mentioned by some of the others, you need to talk to your insurance company to find out all of the details. Other factors are the laws in your state.

For example, in Maryland with my insurance company, my tractor and the equipment is fully covered as long as the tractor remains on my property under my homeowners property. As soon, as the tractor leaves my property, no coverage!! /forums/images/graemlins/shocked.gif Period!!

I opted for a policy that allows me to use the tractor where ever I want and also allows me to make some extra money to pay for the insurance. Two things were of concern with our insurance agent. A backhoe and snow plowing. Those two items would have driven up the cost of the insurance tremendously. With that in mind, I do not have a backhoe and I do not have a plow. And even if I did, I wouldn't take them off my property!! Litigation scares the living daylights out of me!!!

Terry

 

[Soundguy]

I found similar when talking to my homeowners ins. agent. As intended for grounds maintenance, etc not comercial use... theft / fire, but not breakdowns. I did have to get a seperate rider on my trailers though.. but was very cheap... like 100 bucks a year for both my flatbed trailer and my horse trailer...

Found out something interesting as well.. at least from nationwide ins..

They also cover other vacant property you own, up to your regular home owners ins limits.... So if you have your house insured, and also own a vacant lot down the street.. it's covered automatically untill you improve it.... and incedentally.. they said a fence was an improvement...!

Soundguy

 

[Anonymous Poster]

My Erie Insurance Agent said our home owner's policy would only cover smaller lawn and garden equipment. The solution was to get a separate Inland Marine policy. I totaled the retail price of the tractor and implements, and insured for that amount. The policy was less than $100 per year. It is a good idea to make up an equipment/location/usage/theft/accident scenario list that best describes your situations and go over each situation with your agent. My agent did not like the fact that the equipment was parked across a county road that was 50 feet from the house. The conversations with my Agent made me wonder how much was his convenience verses the actual policy.

 

[thcri]

Rob,

Welcome to TBN. And thanks for sharing.

Murph