Citydude
Elite Member
Holy cow! Your tractor is probably valued three times what my tractor, trailer and mower are worth. Given that, that's still pricey insurance. Must be all the great modifications you put into your tractor!
How much do you insure your tractor for???
- Thread starter IslandTractor
- Start date
Holy cow! Your tractor is probably valued three times what my tractor, trailer and mower are worth. Given that, that's still pricey insurance. Must be all the great modifications you put into your tractor!
OP
IslandTractor
Super Star Member
- Joined
- Sep 15, 2005
- Messages
- 17,101
- Location
- Prudence Island, RI
- Tractor
- 2007 Kioti DK40se HST, Woods BH
Man, is that confusing. Almost worse than trying to read IRS instructions.
The links only work for someone who is a member of "Big I" apparently.
Capricious
Platinum Member
The first link seemed to be viewable by everyone:
http://www.iiaa.org/webfolder/la/ask mike/2008/ask mike #08-06.pdf
"Our insured recently bought a John Deere 5625 utility tractor. He keeps it at a camp which he owns with 3 friends, through an LLC. Is there any way to provide coverage through his Homeowners Policy? Would it help to add the camp as an insured location?..."
If you think THAT one is confusing, try THIS one !
http://tinyurl.com/l57ca2h
OP
IslandTractor
Super Star Member
- Joined
- Sep 15, 2005
- Messages
- 17,101
- Location
- Prudence Island, RI
- Tractor
- 2007 Kioti DK40se HST, Woods BH
These insurance underwriters are as bad as lawyers!
So, I know that lots of people here do "community service" with their tractors. Mowing for a church is probably the most common. I happen to mow for a conservation organization that maintains a historic farm and open conservation land. If no one mows these areas they become overgrown and return to brush/forest in less than a decade. So, how can one obtain appropriate coverage for the liability part (I'm happy to either go without tractor coverage or just continue the Inland Marine policy). Are we automatically covered as a "volunteer" under the non profit organization's liability coverage???
coobie
Super Member
- Joined
- Sep 19, 2004
- Messages
- 6,427
- Location
- S.Michigan
- Tractor
- Kubota RTV 1100c, JD 740,Kioti DK 40 with KL401 loader .
We live on a private maintained road about 2 miles long with about 12 residents.My neighbors asked me if I could snow plow the road this coming winter with with my tractor.I checked with my insurance agent about liability insurance and was quoted $500 per year for a commercial policy.
murphy1244
Epic Contributor
- Joined
- Nov 25, 2011
- Messages
- 20,038
- Location
- Ohio
- Tractor
- Kubota 1120 RTV Kioti DK-40, MF-135, Ventrac 4500Y
Tractor rates will go up if you specify you will be Digging.
OP
IslandTractor
Super Star Member
- Joined
- Sep 15, 2005
- Messages
- 17,101
- Location
- Prudence Island, RI
- Tractor
- 2007 Kioti DK40se HST, Woods BH
Attachments
George2615
Super Member
I have insurance through CNH (Inland Marine Policy). I have replacement cost coverage. Also includes glass coverage for the cab. Some implements are also covered (I had them insure what came with the tractor). I have since purchased more implements that are not covered yet. They have to be listed separately. They are covered by H.O. ins while on my property.
Coverage for Tractor is $23k
Loader (is an attachment) is covered for 3K.
Snow pusher blade covered for $1500.
I have $200 deductible and annual premium is $205. Here's a brief description of my policy
Direct Physical Damage Insurance (Direct PDI)
Provides coverage to repair or replace insured equipment in the event of direct physical loss or damage.
Direct PDI coverage is available for cash purchases, outside financing and paid off retail contracts.
Coverage
Covered perils include, but are not limited to:
Collision
Overturn
Earthquake
Theft
Fire
Tornado
Flood
Vandalism
Hail
Wind
Ingestion of foreign objects
Vermin infestation
Coverage extends to:
Replacement Benefit
Tires & Tubes
Pollutant and Debris Removal
Deductible Options
$500 or $1,000 for most agricultural and construction equipment
$200 for small tractors ?9 PTO H.P. engine horsepower or less
?1,000, $2,500 or $5,000 for harvesting equipment
One deductible per occurrence for multiple pieces of equipment covered on the same policy
(highest deductible applies)
I got this policy because Homeowners will only cover it while on my own property. Once tractor leaves property Homeowners no longer covers you for loss.
Coverage for Tractor is $23k
Loader (is an attachment) is covered for 3K.
Snow pusher blade covered for $1500.
I have $200 deductible and annual premium is $205. Here's a brief description of my policy
Direct Physical Damage Insurance (Direct PDI)
Provides coverage to repair or replace insured equipment in the event of direct physical loss or damage.
Direct PDI coverage is available for cash purchases, outside financing and paid off retail contracts.
Coverage
Covered perils include, but are not limited to:
Collision
Overturn
Earthquake
Theft
Fire
Tornado
Flood
Vandalism
Hail
Wind
Ingestion of foreign objects
Vermin infestation
Coverage extends to:
Replacement Benefit
Tires & Tubes
Pollutant and Debris Removal
Deductible Options
$500 or $1,000 for most agricultural and construction equipment
$200 for small tractors ?9 PTO H.P. engine horsepower or less
?1,000, $2,500 or $5,000 for harvesting equipment
One deductible per occurrence for multiple pieces of equipment covered on the same policy
(highest deductible applies)
I got this policy because Homeowners will only cover it while on my own property. Once tractor leaves property Homeowners no longer covers you for loss.
MinnesotaEric
Super Member
Holy cow! Your tractor is probably valued three times what my tractor, trailer and mower are worth. Given that, that's still pricey insurance. Must be all the great modifications you put into your tractor!
Total value of tractor and stuff is $61K. over 800 FICO, no tickets in ten years, no claims in five.
bigbull338
Elite Member
we have farm ins and my tractor is on that.just for my tractor its $300 a year.