Tractor insurance- I'm not covered by homeowners...

[ultrarunner]

In general I've noticed a big uptick with insurance and service agreements that cross my desk.

Been able to beat most of the increases back or at least get a reduction.

Sometimes it is as simple as asking for options...

 

[Depmandog]

Sometimes it is as simple as asking for options...

Afraid not with KTAC. Flat rate times dollar amount of coverage.

And I was warned not to touch our Heath insurance. Seems like we are grandfathered in since we have had the same policy for 20 plus years. No Obamacare for me!!

 

[coobie]

In general I've noticed a big uptick with insurance and service agreements that cross my desk.

Been able to beat most of the increases back or at least get a reduction.

Sometimes it is as simple as asking for options...

I guess we ALL HAVE TO PAY for recent years Hurricane claims.Maybe I am wrong.

 

[Steppenwolfe]

With my insurance(Nationwide), my tractor is covered as long as it's on my property. If it leaves my property I have 0, zilch, nada coverage on the tractor.

Ditto here with Nationwide, as long as I use it on my property for personal use I am insured.

 

[cmcramer]

If I may...I'd like to bump this discussion of tractor insurance coverage....related to my soon to be delivered Kubota L2501DT and implements. My Allstate Agent says - in writing - that for non-business use, a loss occurring on my property
"is covered up to your policy limits for personal property which is $151,956" Good news, right? But, BUT!, my policy has the following clause "Limitations On Certain Personal Property: $10,000 Motorized land vehicles used solely for the service of the insured premises and not licensed for use on public roads." A tractor is a motorized land vehicle last time I checked. Least I thought it was....

I asked Agent specifically about this $10,000 Limitation on Motorized land vehicles, and he just said....no, I was covered for full replacement value. Don't worry.

Anyone have the same experience? Agent is a good guy, long time relationship, but I can read English....and I'm a born skeptic.

What do you make of this apparent conflict??

 

[paulfun9]

Your agent might be a good guy BUT your insurance company is all business! So unless the clause with the limitation on motorized vehicles is removed or specifically the tractor is listed as covered with no limitation I would not trust that it was insured.

 

[Looking4new]

Your insurance agent is a salesman. A salesman will tell you whatever you want to hear. I would go with what is written in the policy and also buy an Inland Marine policy just for the tractor. You still wont be covered off the property, but at least you know for sure it is insured for replacement value.

 

[pizzaguy]

As paulfun9 and Lookin4new have stated earlier, I would not trust your agent. If your agent can get it in writing from the company's under writer, then you MAY be OK. Anything other than that I would not trust and I'll bet they won't cover. I have the Kubota insurance which is very good. My other option was what they called a " Grounds Maintanance Coverage". I believe that is the same as others call it an inland marine policy.

 

[cmcramer]

I see what you mean, definitely, and I'm leaning toward buying more insurance just for the tractor/implements....... but read this excerpt from a San Francisco law firm's web site titled "Ten Things Your Insurance Company Will Not Tell You."

."If an insurance agent misrepresents the coverage being provided at the time the agent sells you your policy, the insurance company will have to honor the coverage representations made by their agent."

And I have an email from my agent that says I am 100% covered under Personal Property limits...

 

[grsthegreat]

My ins agent first told me mine would be covered also, but i had him dig deep and check. Turns out it wasnt. I had to get an inland marine policy to cover tractor and impliments.

 

[Depmandog]

It appears to me your agent is wrong. The ONLY way I would believe you had coverage would be a written confirmation by an underwriter from the home office. Bite the bullet and insure through KTAC. That way you are covered if you road the tractor to a neighbors house and have an accident off-premises.

 

[DK35vince]

I would go with what is written in the policy and also buy an Inland Marine policy just for the tractor. You still wont be covered off the property, but at least you know for sure it is insured for replacement value.

I have an Inland Marine policy and I am covered on or off my property.
I am not covered if I am doing work for pay.

 

[paulfun9]

I see what you mean, definitely, and I'm leaning toward buying more insurance just for the tractor/implements....... but read this excerpt from a San Francisco law firm's web site titled "Ten Things Your Insurance Company Will Not Tell You."

."If an insurance agent misrepresents the coverage being provided at the time the agent sells you your policy, the insurance company will have to honor the coverage representations made by their agent."

And I have an email from my agent that says I am 100% covered under Personal Property limits...

Yes the law states that.

Now think about the hassle, aggravation and time not to mention cost of fighting them if something happens. I know fighting insurance companies can be a real pain in the butt, they have a legal dept for a reason and in most cases hold the upper hand simply because they can wait you out and in many cases people are stuck without a clue after an event that necessitates the use of the insurance in the first place. If you think that making a phone call and telling them my insurance agent told me that this policy would cover that an they will pay up, You best think again!

After my accident I now actually have my Attorney review and recommend changes to a policy and consider his fee money well spent as a preventative to finding myself in battle with the aftermath of any accident/fire or whatever it may be.

If your actually counting on your insurance to pay up its best to have those ducks in a row and all speaking the same language!!

 

[cmcramer]

Yes the law states that.

Now think about the hassle, aggravation and time not to mention cost of fighting them if something happens. I know fighting insurance companies can be a real pain in the butt, they have a legal dept for a reason and in most cases hold the upper hand simply because they can wait you out and in many cases people are stuck without a clue after an event that necessitates the use of the insurance in the first place. If you think that making a phone call and telling them my insurance agent told me that this policy would cover that an they will pay up, You best think again!

After my accident I now actually have my Attorney review and recommend changes to a policy and consider his fee money well spent as a preventative to finding myself in battle with the aftermath of any accident/fire or whatever it may be.

If your actually counting on your insurance to pay up its best to have those ducks in a row and all speaking the same language!!

Thank you for your advice - I know you're right. I'll be contacting the Kubota insurance person tomorrow, and I am also shopping around for an inland marine type policy from other agencies that will fulfill Kubota's strict insurance requirements if I decide to take their 0% finance deal. My initial quote from an outside agency was half Kubota's $250 per year.....let's see if it enough to satisfy the Kubota people!

 

[Hiltz]

Depmandog ]I too have KTAC. I was a bit disappointed when my renewal came last week, my premiums jumped 30%!! From $276 to $359! Never had a claim either.

I spoke with Charlotte, customer service rep, and she said the bean counters insisted on an increase since it had been 2-3 years since they had raised their rates.

With all of the other insurance we have I AM INSURANCE POOR!![/QUOTE]

Insurance reps wont ever tell you but often the rates go up because the parent company has made poor investment decisions and they need to recoup their loses. Insurance companys are just as slimy as Wall Street.

 

[cmcramer]

Depmandog ]I too have KTAC. I was a bit disappointed when my renewal came last week, my premiums jumped 30%!! From $276 to $359! Never had a claim either.

I spoke with Charlotte, customer service rep, and she said the bean counters insisted on an increase since it had been 2-3 years since they had raised their rates.

With all of the other insurance we have I AM INSURANCE POOR!!

Insurance reps wont ever tell you but often the rates go up because the parent company has made poor investment decisions and they need to recoup their loses. Insurance companys are just as slimy as Wall Street.[/QUOTE]

Interesting about KTAC raising rates. Let's see....I take their 0% finance offer....and their $275 per year required insurance.....in year 2 they raise their insurance premiums (and year 3 and year 4) .....What choice do I have then? Hope I can find a competing policy that satisfies their requirements? And if they say 'no, that other policy won't work'......I simply pay up.

 

[pizzaguy]

I don't know why everybody's KTAC rates are increasing unless the tractor is paid off and not under KTAC financing anymore. I know when I purchased the insurance when buying the tractor, the dealer told me this rate was locked in for the life of loan. Never had a rate increase and tractor is about paid off. I would imagine if I keep the insurance after payoff it will probably jump quite a bit.

 

[Industrial Toys]

I always thought, that for the purposes of (In Ontario) The Highway Traffic Act, a tractor was not considered a "Motor Vehicle"

I would say, any explanation isn't worth the paper it's written on. Get it in writing! On the other hand, what's the use? There will be some other clause or legalize that will deny you benefits anyway, right?

Back in the mid seventies when my GF drove out tractor, or better said, caused our tractor to drive itself into our weekend house, Allstate or Statefarm (can't remember which) , said that everything was OK, we were covered. Then they came back and said since it wasn't one of the family that did the driving, we wern't covered!

 

[Looking4new]

I always thought, that for the purposes of (In Ontario) The Highway Traffic Act, a tractor was not considered a "Motor Vehicle"

According the the MTO Inspector I was talking to while he safetied my truck on the side of the highway, a tractor is NOT a motor vehicle and as such you (a) don't have to wear seatbelts, (b) when running on a secondary highway you MUST be either ALL on the pavement or ALL off the pavement....No half on and half off.

 

[tmdupre]

I checked with my homeowners and they were wanting $72 a month and it had to stay on my property. I saw someone else post that had Farm Bureau and they are in my area and I contacted them, and they are charging me less then $150 on my brand new LS tractor. They charge about $10 a year for attachments each. Plus if I need to go help a neighbor, I can.