Do you have insurance coverage on your tractor?

[econometrics]

Yes, and make sure you do, too!

I have insurance through John Deere Financial on the machine, as well as coverage on it through my general liability policy with my property policy.

Mitigating risk is like building a wall brick by brick. You have to think through all exposures to various risks, then insure accordingly as it fits your risk appetite and needs/wants.

 

[tractchores]

I definitely do, as I would for any other item with a largish value. I often operate on a shared road, so use the kubota policy as its more comprehensive. I may reconsider if they keep moving the cost up, but for the moment it's easy and relatively cheap. After almost rolling the tractor in my first hour of use (BEFORE I had the policy!!) I'm now more careful both with the tractor and the coverage.

 

[dragoneggs]

KATC is good insurance, and is required while financing new equipment. My '09 L3400 is now paid for and the initial insurance policy came up for renewal recently - with a 30% price increase. I was disappointed that insurance on a 4 year old tractor would go UP rather than down. I did talk to their rep but got nowhere on reducing the premium.

So, considering that I almost never take my tractor off of my property, it's covered at 100% replaceable value (not depreciated value) under my homeowner's insurance at no extra cost. That coverage includes everything that KATC coverage if it is on my property. I have no qualms with KATC and their coverage is ideal for many owners - just not for me at this time.

Curious... did you need a rider on your homeowner's policy to cover it?

 

[Gem99ultra]

Curious... did you need a rider on your homeowner's policy to cover it?

No rider required. Anything and everything on my property is covered at full replacement value.

 

[grsthegreat]

No rider required. Anything and everything on my property is covered at full replacement value.

hmm, thats sure alot different than my state farm ins. It wouldnt cover any vehicle...not the jet skis, tractor, boat...nothing. they all required riders or inland marine.

also things like cameras, jewelry, etc all arnt covered except dfor blanket (total loss) amt.

 

[Gem99ultra]

Yep - not to slam SF but I had them for many years. Had a tornado hit my place one day. Damaged the house, workshop and two cars. SF claimed that EACH item was a separate incident, thus the deductible applied to each of the 4 items.

It took me about 10 minutes after collecting the pittance that they allowed to find myself a better insurance company.

 

[dragoneggs]

No rider required. Anything and everything on my property is covered at full replacement value.

Even that $25K diamond ring you bought your wife???

 

[Gem99ultra]

Even that $25K diamond ring you bought your wife???

Too funny Suppose they would question that being that I'm not married?

 

[bigbull338]

our tractors are ins on our farm ins.

 

[mudcat47537]

Do you have to have your home or auto with them to qualify for this policy with Farm Bureau? Are you a member of the Farm Bureau?

My homeowner's coverage is for our property only. Kubota does not offer any liability coverage. Looks as if I need to look elsewhere..Farm Bureau?

I am not sure but I do have all my insurance through one company Farm Bureau, and one agent. Been that way for 20 + years. I guess if it was a requirement I would not necessarily know.