Tractor Insurance

[Dustypp]

About. All my coverages for all the farm related items are bundled together. I own a lot more than just tractors.

Blanket farm?

 

[5030]

Blanket farm?

Yep. Even my rentals are under it. Vehicles however are on a sperate policy. I insure with Hasting Mutual FYI.

 

[LD1]

Just what is the coverage on the tractor?

Its it just covered for liability, and vandalism/theft? Or is it covered for accidents like a roll-over or it catches on fire?

And if there is liability coverage.....say you are mowing and throw a rock through the window of a house and it hits someone resulting in $$$$$$ medical bills and/or death?

Its hard to compare just "tractor insurance" and a price. Because there are so many varying forms of coverage.

My "business" liability policy with $2m/$4m coverage that covers landscaper type work with the tractor was ~$600/year and adding the tractor with a stated value of $25k added $177/yr to the policy. That covers the off-property things like theft/vandalism, acts of nature, etc. Basically things beyond my own control. But wont cover equipment damage as a result of my actions. Driving into a lake, rolling down a hill, etc.

Just this year I amended my policy to include digging/excavation as well as added my mini-ex with a stated value also of $25k to my contractors list.

My total policy is now $1100/yr.

So to pay $700+ per year for ONLY tractor coverage seems steep. unless it is also written along with a general liability policy and/or includes the things like self-inflicted equipment damage.

 

[5030]

If you are directing that at me, I said 'all perils'. I have a 1000 deductible and it covers than on and off the farm. Covers everything, no exclusions.

 

[rScotty]

Mine is covered in my homeowners Ins as long as it does not leave property.

So it mine. No additional cost. I think that the insurance agency views leaving the property as being used for business.
rScotty

 

[LD1]

If you are directing that at me, I said 'all perils'. I have a 1000 deductible and it covers than on and off the farm. Covers everything, no exclusions.

No my comment was directed at the OP.

Simply saying "I have a quote for $700/yr for tractor insurance is that good"? is an IMPOSSIBLE question to answer. Too many flavors of insurance.

 

[macdoesit]

So it mine. No additional cost. I think that the insurance agency views leaving the property as being used for business.
rScotty

My Ins is with Farmers, going to email and find out what exactly is covered on my tractor. Email so I will have the answer in writing.

 

[Randy52]

I have my 2021 TYM 394 on my home owners think it is around $80 a year.

 

[Lineman North Florida]

To the OP do you have a Farm Bureau or some other ag related insurance company in your state? They are usually a lot better and more reasonable/affordable to deal with on insurance for tractors and farm equipment insurance coverage.

 

[Torvy]

What the OP needs is a commercial policy, not an AG policy. Once you do work off of your property for hire, the rules change.