Trouble finding insurance for tractor

[Thomas]

Tractor insurance under our homeowners 100% the only catch is name...names will only cover tractor if leaves property for use.

 

[Jstpssng]

Where i grew up and here, insurance is not required for farm equipment on roads. No fault issues as long as i have the SMV emblem and lights as wide as the equipment.

I wasn't talking about that. I was referring to what happens if you do get into an accident. I just checked, I pay 60$/year for liability insurance with a $500K limit. Mine is on my commercial auto policy, and looking at some of the numbers others are paying, I may retain that but change my comprehensive coverage to another company.

 

[sixdogs]

Tractor insurance under our homeowners 100% the only catch is name...names will only cover tractor if leaves property for use.

Most policies I'm aware of only cover tractors off the property if they are going from one field to another for ag purposes. No coverage if going out on a paying job unless you have business coverage for that and it includes a schedule of physical property covered. In other words, take your tractor down the road to mow something for a neighbor and you do not have physical asset coverage.

You'll need an umbrella rider on your policy for liability and you will not have coverage on tractor damage unless the assets are "scheduled", meaning detailed and you are paying for their coverage. This is the way my farm policy works now and I do not know of anyone with a different setup around me.

Only way to know for sure is to sit down with insurance agent, ask questions and take notes. Then, look it up in the policy and read to verify.

 

[PILOON]

I'll add to this discussion.
Next U have a 'not so ethical agent' that will give U a nice quote.
When U get to read the fine print U find that U are 1/2 mile outside of the range that will cover U , or some other escape clause.

Gee, I should have been a lawyer with a loupe to read the small print clauses!
The one that always worries me is that clause that claims 'major upsurps or war measures act'.
Example: was the riot @ the US an riot? Civil war? or whatever clause to exempt claims payments.
No matter insurance fees are on the rise.
Vehicles today have so many sensors that even a Pickup truck tear bumper is listed @ $3-4000!
And now they have built in sensors on every corner of your car.
None are bare bones priced but complete with every sensor.
Check out windshields.
Many have sensors built in so that a mere stone chip will cost your insurance $3000 .
(Some windshields need a computer to be installed!)

 

[Jstpssng]

^^^^^
That windshield cost is my biggest gripe. It's not uncommon to lose one every two years, and with a $1000 deductible it can be expensive. Even the part covered by insurance costs; they aren't doing it as a charity. Is it really that much effort to turn on the windshield wipers?

 

[Doughknob]

I wasn't talking about that. I was referring to what happens if you do get into an accident. I just checked, I pay 60$/year for liability insurance with a $500K limit. Mine is on my commercial auto policy, and looking at some of the numbers others are paying, I may retain that but change my comprehensive coverage to another company.

So you mean if someone hits you and damages your equipment? Isn't that what HIS liability for? To pay you for such damages? I know lawsuits surely work for that case also. So still see no need for insurance on farm equipment......

 

[Jstpssng]

So you mean if someone hits you and damages your equipment? Isn't that what HIS liability for? To pay you for such damages? I know lawsuits surely work for that case also. So still see no need for insurance on farm equipment......

The way that Maine law reads, if you're in an accident without insurance the onus is on you to prove that you aren't at fault. For 60$/year, it isn't worth it to me to take that chance. I have 1/4 mile of frontage on a town road with light traffic and am on it several times every week... or multiple times every day when I'm cutting wood.

 

[JJZ 109]

Got a reply from KTAC today. $39 a year to add the loader to my current $155 policy.

I know, quoting myself here but there's a reason. The email that I received from the KTAC rep on 7/9 clearly stated that I would have to do it that very day if I wanted to add the loader to the policy.
So I called the phone number and the individual's extension provided at about 1:30 PM eastern time. I believe that KTAC is on central time so I just assumed that maybe it was lunch time there and I got the person's voicemail. I left a message stating that I would like to proceed and add the loader to the policy that we had been discussing along with my name & contact information. No one ever returned the call. I replied to that email to inform the person that I generally don't chase people to take my money and that we'd just forget about adding the loader.

 

[Grandad4]

That's pretty good. Not knowing any better I just purchased a year from KTAC for my BX2380 for $155. Which I didn't think was horrible. Fire, theft, & physical damage pretty much.
I just paid the tractor off 3 years early so that cancelled the KTAC policy that was in effect during the loan. I had a certain window of time to act to keep KTAC. But when I questioned whether they'd cover the LA344 loader that's on the tractor in the event of damage they said no. Even though it was dealer installed before delivery. I think because the loader was not on the loan paperwork as I paid for it up front and didn't roll it into the loan they wouldn't cover it.

Interesting. KTAC was quite happy to add a factory backhoe to my coverage when I bought it for my Grand L after a couple of years. Of course that was quite a while ago and maybe things are different now. Never had a claim with KTAC but appreciated the coverage.

 

[Doughknob]

The way that Maine law reads, if you're in an accident without insurance the onus is on you to prove that you aren't at fault. For 60$/year, it isn't worth it to me to take that chance. I have 1/4 mile of frontage on a town road with light traffic and am on it several times every week... or multiple times every day when I'm cutting wood.

Wow. I am glad i don't live on maine then. "Fault" should have nothing to do with having insurance or not. Something isn't right with that political illogic. Thanks for explaining...