Erik_in_Hoyt
Platinum Member
lease it to your brother for $1 a year and reimburse him for the cost of insurance.
I can't remember exact numbers but I can say after I got a few quotes I got cheaper and as good of insurance from my local Farm Bureau as I could anywhere even considering Agricredit. I have my 3325 insured for $8,800 and it cost me $88.00 per year. Price hasn't change in almost three years.
I bought my tractor when Mahindra had $500.00 rebate or 0% for 36 months. Well at 0% it was better for me to use Argicredits money than my own. I normally don't carry insurance on my tractors.
Don
how much does agricredit insurance cost?
Agricredit on 8800.00 in TN on a new tractor would be 78.14 per year and on a used tractor it is $89.76 per year. Each area has a different price. For example, if you were in Idaho it would be $29.56 and $44.35 respectively. Tractors under 250 hours are considered as new.
Buck
Speaking of insurance, I cannot get my property in Oklahoma covered by anyone. State Farm will not cover it because I do not live on it even though my brother lives across the road from it. I live in Md. and my State farm homeowners will not cover it although they (Md. agent) did sell me insurance on the RV trailer I keep in OK. My auto insurance State Farm aget in OK won't cover it even though I keep my truck (which he does cover) in the barn. I have homeowners, auto and RV insurance through State farm.
I keep a good deal of stuff in the metal barn including my tractor and lots of tools. Does anyone know who would sell me insurance against theft, fire and storm damage?