tractor insurance queston ?

[Grumpy Old Man]

Hi all , Ok so I just called my State farm agent and they gave me a quote for theft insurance on my new to me John deere 855 mwfd fel tractor for $10,000.00 coverage they quoted me at $275.00 a year with 0 deductible ,I told them the tractor would be on my property that I am building out and behind a locked gate and until I can get the pole barn up it would be living under a tarp and unseen from the road , i have been trailering it back and forth but my current home is 60 miles from there and I wanted to able to sleep at night because the tractor is basically a rolling savings account . I know many of you are way more knowledgeable than me on this is this a good quote ?

[murphy1244]

Hi all , Ok so I just called my State farm agent and they gave me a quote for theft insurance on my new to me John deere 855 mwfd fel tractor for $10,000.00 coverage they quoted me at $275.00 a year with 0 deductible ,I told them the tractor would be on my property that I am building out and behind a locked gate and until I can get the pole barn up it would be living under a tarp and unseen from the road , i have been trailering it back and forth but my current home is 60 miles from there and I wanted to able to sleep at night because the tractor is basically a rolling savings account . I know many of you are way more knowledgeable than me on this is this a good quote ?

When you say 10 grand, does that mean total loss they pay you the 10 gs or up to 10 grand.

[Pharm]

That seems a little high to me. I got over $27K coverage for a little over $300/yr. with KTAC. I think I have a $300 deductible. Covers more than theft too.

I called my State Farm agent before KTAC and he said he couldn't write me up a quote.

[Grumpy Old Man]

When you say 10 grand, does that mean total loss they pay you the 10 gs or up to 10 grand.

State farm covers all our stuff and for us they work great ,they will not write a "tractor' policy but they will write a personal OWNED article policy for anything you OWN that is not financed and covers theft, vandalism, flood , fire , no comp or collision .and pays 10,000.00 for total loss anything else "vandalism" pays to restore it to insured condition ,I had to provide pictures and serial #'s and pictures of locked gate at the property

[kiotiken]

I think insurance varies widely by location. When I bought my CK30 with Woods bh (bought new), I convinced my insurance company to cover it under my home policy. At first, they weren't very interested since it was over 20hp, and then they put conditions on that didn't work like the coverage is only good on my property. I finally convinced them to cover it as long as I didn't make any money with it. I think it was an extra $100/year on the policy. When I traded up to the DK45 Cab (again new), they increased it another little bit, I think I pay about $130/year for it. I know not everybody is so lucky and most insurance won't cover them at all and at first I was told I would probably have to get farm insurance.

[kiotiken]

Oh ya, nice tractor. My first tractor was a JD 955 that I tore appart and fully restored. It was great, but had a rough life before I got it and needed too much tinker time. Traded for the CK30 and made a bunch of money on it.

[nybirdman]

In New York State any-way;mine is covered under my home owners at no addittional cost.

[Grumpy Old Man]

I think insurance varies widely by location. When I bought my CK30 with Woods bh (bought new), I convinced my insurance company to cover it under my home policy. At first, they weren't very interested since it was over 20hp, and then they put conditions on that didn't work like the coverage is only good on my property. I finally convinced them to cover it as long as I didn't make any money with it. I think it was an extra $100/year on the policy. When I traded up to the DK45 Cab (again new), they increased it another little bit, I think I pay about $130/year for it. I know not everybody is so lucky and most insurance won't cover them at all and at first I was told I would probably have to get farm insurance.

Yes they told me if it was kept and operated on my current location the cost would be minimal ,but because it would be basically be on the new property it would not be covered by homeowners policy and for less than $25.00 a month I guess it's not to bad at least I will be able to sleep at night and not worry about it (much)

[woodlandfarms]

In our state, a Tractor is covered under home owners when outside a farming operation (legit, incorporated, not gentleman). If the tractor ever leaves the property, outside of driving too and from addtional parcels, you are not covered. The idea is to keep people from using it as an income device, where it would then be more of a risk.

[murphy1244]

State farm covers all our stuff and for us they work great ,they will not write a "tractor' policy but they will write a personal OWNED article policy for anything you OWN that is not financed and covers theft, vandalism, flood , fire , no comp or collision .and pays 10,000.00 for total loss anything else "vandalism" pays to restore it to insured condition ,I had to provide pictures and serial #'s and pictures of locked gate at the property

If State farm puts that in writing, sleep tight. I dropped them over tractor insurance.