insuring my tractor

[blueriver]

I have an inland marine policy covering $65K of equipment on a five year option contract from CNH insurance. I want to say that I'm paying just over $1800 on the five years.

About right .. They treat u right?

 

[Threepoint]

I had some large tree branches fall on my Jeep and tractor in a recent storm. The Jeep was damaged, the tractor was not. My homeowners insurance agent (State Farm) said my Jeep wasn't covered (car insurance comprehensive would cover that) but damage to the tractor would have been.

That sounds right, for that type of casualty. But if you were to damage your tractor on your property by running into the tree, I suspect your homeowners policy would not cover it. Same if you rolled over on a slope while operating. That is a distinction my agent made after double checking with Allstate, FWIW. Would be interesting to know if State Farm is different.

 

[CubicleFarmer]

Mine is covered on and off of my property, as long as it is not being used for business purposes. I have a rider on my policy for $30k for the tractor, and my auto, homeowner, liability insurance is all through the Michigan Farm Bureau. Only cost an extra $75 a year, with $500 deductible, but it has to be stored indoors if I want them to cover it for theft and acts of God.

 

[ksbrdmkr]

My equipment insurance is about an added $5.60 per thousand to the my bundled agmax policy, but is supposed to cover on/off farm, in/out of state and custom operations.

 

[kiotiken]

Mine is through my homeowners policy. It is covered both on and off my property as long as I'm not using it commercially. I had to fight for that. My argument was, with my rear pull type blower, the tractor was off my property before I finished my driveway. In the end we worked it out that I could travel off my property to help neighbours or pick something up as long as I wasn't paid. I do a fair amount of road travel (my longest trips were a pair of 50 KM round trips with a trailer) and have helped several neighbours and I'm more concerned with liability than with theft/fire/damage.

 

[tooln]

I'm insured through Agri Credit, they add it to the tractor payment, roughly $15 a month. Includes liability and loss (not restricted to my property).

What happens when it's paid off? Mine is insured this way also. My since I keep the tractor on my property and don't have a house there my home owners won't cover it.

 

[MinnesotaEric]

About right .. They treat u right?

I haven't had a claim, and so there isn't much follow up. The marines policy does allow me to break out commercial liability to a separate policy. Getting both covered was next to impossible here in Minnesota and my USAA homeowner's policies only covered the first $3000 of the tractor, not nearly enough. With a inland marine policy i can leave the reservation and rock my way into town to gas up!