Insurance Does Everyone Have Seperate Insurance

grainger12002 · Mar 2, 2011

be careful of the fine print,different companies cover this item differently. Read ALL the exclusions and be sure of the coverage you have. Liability and physical damage are two different things, The HO 3 is probably the broadest form in CT but it varies by company.

Just an FYI

Cropdustr · Mar 2, 2011

I only started this Thread due to when I purchased mine machine, dealer talked to me about insurance, I checked with my insurance carrier, Amica, who told me as long as Tractor is on my property, it is fully covered if a total loss they will pay ACV (Actual Cash Value) if damaged they will pay after you reach your deductible, and here I think you need to be careful, most people carrier a $500.00 to $1,000.00 deductible on their home, I think its important to know your home's deductible, and if you can handle your Tractor's loss and deductible. sample your tractor is worth $20,000.00 and you have a $1,000.00 deductible and your tractor is lets say burns to the ground, your insurance company will pay you $19,000.00 and not you can go and purchase another machine, if new and new cost more than your insurance check, the differance is on you. If you damage your machine, lets say you cut down a tree and it falls on your machine

and does $5,000.00 in damages your insurance carrier pays you $4,000.00. however if your fire loss or tree loss happens on a friends property you are helping, you get nothing, the farm policy covers you 24/7 any where.:thumbsup:

phiferpharm · Mar 2, 2011

I carry a separate policy for the tractor/implements, and added the Rhino, mowers, and chipper. The price is reasonable and the only exception to coverage is if I take the Rhino off property to do trail riding. It does cover me when helping the neighbors, but not if I lend it to a neighbor.

I would rather help than loan stuff out anyway. I'm lucky to have three good neighbors - my son who owns the property adjacent to my property entrance, the next door neighbor on the lake, who is always ready to go hands-on and help, and a third neighbor down the road a bit, who will come over when she knows my oldest grand daughter is on the property and take the time to let her enjoy time with her horses and donkeys. It gives me a chance to return their thoughfulness.

blueriver · Mar 2, 2011

Get the second policy ... its inexpensive and no questions asked in the event of a loss ... not to mention added liability.

Skyco · Mar 3, 2011

tsterkel said:
Interesting, I just asked the same question as I have a "new" Hesston 100-90 to replace that RCO Tractor that blew up at hour 147.

In texas, State Farm covers the tractor, unless you are working for someone else, or on someone else's property.

Given the variation in the responses, I suspect that what you are seeing is state-by-state variation. Only one piece of advice. Do NOT get separate insurance, get a "rider" on your homeowner's insurance. riders are always cheaper. Well, another piece of advice, print out this page, go to your insurance agent that says "NO" and say "are you certain, or do you want a couple of minutes to check it out?"

Gotta watch that word "always"

State Farm here wanted triple for a rider compared to what Kubota Insurance charges to cover my tractor...

Also I have 3 motorcycles and an ATV that are all on other policies because State Farm wanted too much to roll them in with my boat/2 cars/camper/house policy.

Cropdustr · Mar 3, 2011

SKYCO said it all, Just check with your agents, If they say your not covered under home owners policy, say ok, and then call or visit another agent and see if still the same answer, and if you find you are covered, maybe time to move to an agent who checks and cares about you and not his time or bottom line $$$. because the only one who losses is you!:thumbsup:

LBrown59 · Mar 3, 2011

tsterkel said:
Given the variation in the responses,
I suspect that what you are seeing is state-by-state variation.?"

Or differences in insurers .

Cropdustr · Mar 4, 2011

blueriver said:
Get the second policy ... its inexpensive and no questions asked in the event of a loss ... not to mention added liability.

In Connecticut you can't have two insurance companys with binding coverage, on any vehicle, home or tractor, its covered by home owner's or by let's call tractor insurance company. so if you have a loss for let's say 10,000.00 you can't collect from both insurance carriers, and there is no added liability, its one company or the other not both, I would think that would be in alot of states, you tink you have all this coverage frm both abd you don't, but insurance company don't tell you because you should know that !!!, remember you are dealing with insurance companys the riches companys in all the world !!!

drifter2518 · Mar 5, 2011

I talked to my agent and he said tractor was covered under my Homeowners policy. I asked what a seperate ryder would cost and for 18k coverage it would cost me an extra $71 a year.