Tractor Insurance

   / Tractor Insurance #11  
I have a seperate marine policy on mine. It was written by the same
company that handles my automotive account. Was quite reasonable.
 
   / Tractor Insurance #12  
kubota insurance covers mine. about $200/year. it covers it at home, anywhere else, on the trailer, falling off the trailer, someone stealing it, driving down the road, my garage falling down on it, someone else's garage falling down on it, etc. it really seemed to be the only option worth considering.
 
   / Tractor Insurance #13  
I have a rider on my home owners policy for a declared value that covers it in transit and on our remote property.
 
   / Tractor Insurance #14  
I'm going to go against the grain here.

Insurance is under home owners with a 30k call out for the shop and the tractor is under the "belongings" that may be damaged by a catastrophe like fire. Other than that, I don't carry insurance to cover replacement.

At a couple hundred a year/machine, self insurance over the years has allowed me to save the equivalent to a tractor. Why would I want to give that to an insurance company?
 
   / Tractor Insurance #15  
I'm going to go against the grain here.

Insurance is under home owners with a 30k call out for the shop and the tractor is under the "belongings" that may be damaged by a catastrophe like fire. Other than that, I don't carry insurance to cover replacement.

Yup USAA asked the cost of the tractor and just upped my personal property insurance on the home owners and that's all you need if you aren't going to work it commercially. I think many people over insure on the side of caution.
 
   / Tractor Insurance #16  
I'm going to go against the grain here.

Insurance is under home owners with a 30k call out for the shop and the tractor is under the "belongings" that may be damaged by a catastrophe like fire. Other than that, I don't carry insurance to cover replacement.

At a couple hundred a year/machine, self insurance over the years has allowed me to save the equivalent to a tractor. Why would I want to give that to an insurance company?

I agree. However, because so many folks here on TBN opt for the Zero financing on new tractors, the financier makes the call of what they require.

Also, the "on the property-off the property" and "on a trailer" issues can be tricky. If a guy knows the ins and outs, has weighed it all out, he can make a decision that is right for him.
 
   / Tractor Insurance #17  
I agree. However, because so many folks here on TBN opt for the Zero financing on new tractors, the financier makes the call of what they require.

Also, the "on the property-off the property" and "on a trailer" issues can be tricky. If a guy knows the ins and outs, has weighed it all out, he can make a decision that is right for him.

My agent said the tractor was covered under my home owners policy while at my home. But that I needed a rider to cover it away form my home.
 
   / Tractor Insurance #18  
When i bought my John Deere 3005 last year I was intending to pay cash, but for interest i asked about financing it. The dealer told me about the 0% financing JD was offering, but apologized that i would have to pay a couple hundred extra to cover it for fire or theft by JD insurance. So naturally i asked if I could pay cash and still buy the insurance - Nope, not offered. That was the clincher; I financed, a couple of grand down and zero percent for five years, and got five years of fire and theft loss insurance for $200 bucks to boot!!! I figured if JD didn't think the actuarial risk that I would crash it was high enough for them to insure against, I certainly didn't need to worry about that either.
Mf
 
   / Tractor Insurance #19  
I bet most people who say their tractor is insured by their homeowner's policy are not covered as well as they think. When push comes to shove, I'm willing to bet the insurance company will not cover the tractor like the owner thinks.

I could be wrong -- and don't want to be confrontational -- I just did a lot of research before I went with Kubota insurance. For the coverage and price, it was a no-brainer for me.

Exactly, my home owner's does cover my tractor but with many exceptions and exlusions. It's not an "all peril" coverage. Last month I hit my back tires with a box scraper doing about $1,500 dollars damage to it. Home owner's would not cover it. I now have insurance through John Deere, it's an all peril coverage and it only cost me $250 for almost 4 years with a $500 deductible.
 
 
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