Insurance Insurance on new tractor yes or no?

[CHF4]

I’m buying a new cab tractor. Live on fairly level ground, a few hills. Will use it some in trees, but not much. Mainly bush hogging/mowing, some log & brush moving, loader/dirt & ground work. This is first new tractor I’ve bought, but grew up using tractors. Massey 4707 w/cab. I’m pretty conservative/careful using tractors.

The main thing I can think of needing is for if in woods & hit something? Tree falls? What’s your experience? What am I forgetting/missing?

 

[KennyG]

Talk to your insurance agent. Many homeowners policies will cover the machine while being used on your property.

 

[CHF4]

Thank you. Forgot to mention my insurance company does not offer.

 

[ovrszd]

I insure my tractors. If my shop burns the tractors aren't covered unless they are on their own policy. Same with any natural disaster or theft.

My tractors are covered under Inland Marine policies. Cheap yearly rates.

 

[Diggin It]

This comes up every couple of weeks here in one form or another. As noted, most homeowners policies cover most machines on the insured property, but may or may not cover large, expensive machines not normally used by homeowners. Since you've already found out your does not, you may want to check into other companies. With my auto insurance, I've found that checking around has saved me quite a bit over the years by changing companies.

Even if you don't want to change companies for your main homeowners, there are companies that offer farm policies that will cover the equipment. Their definitions of 'farm' can vary, so not everyone may qualify.

 

[CHF4]

Hey thank you so much. I just called the main customer service number and was told that under my personal property coverage it is covered. My agent told me there was no policy available, but apparently he didn’t realize I didn’t need it. The guy who answered didn’t know either until he did some researching while I was on the phone.

I’m glad you all mentioned it so I checked with another source.

Thanks again!

 

[CHF4]

My next question is can I delete this thread from my app?

 

[ovrszd]

Personal property coverage is normally a purchased maxim amount of coverage. For example you might have $50K PP coverage. If your tractor is going to be covered there you may need to increase your coverage. Again, for example, if you buy a $30K tractor and park it in your shed with all your other PP and the shed is a total loss you are going to max out real fast.

Your insurance company isn't eagerly giving you more coverage. If no changes are made to your existing policy you are going to be very under insured. Further inquiry might be due.

 

[ovrszd]

My next question is can I delete this thread from my app?

Why would you?

 

[ultrarunner]

I just insured my restored 1953 Ford NAA through my Antique Auto Policy...

The only restriction is I cannot farm with it!