CAB/AIR5225
Silver Member
As far as what I was told at the Dealer, its like your regular car insurance...if it totaled it in a fire or whatever, it covers replacement cost.....I am going to call back and double check...thats a good question though.
Home Owners Insurance etc.
- Thread starter Gobblin Tom
- Start date
- Views: 5736
As far as what I was told at the Dealer, its like your regular car insurance...if it totaled it in a fire or whatever, it covers replacement cost.....I am going to call back and double check...thats a good question though.
MarkV
Super Member
- Joined
- Apr 7, 2000
- Messages
- 5,636
- Location
- Cedartown, Ga and N. Ga mountains
- Tractor
- 1998 Kubota B21, 2005 Kubota L39
I would recheck that and get it in writing. Your homeowners may cover it up to a point on your land but it would be real unusual for them to cover you off your property. This has been discussed a bunch on the forum so a search will bring up a bunch of past information.
MarkV
Last edited:
grsthegreat
Super Star Member
I just went over this with my state farm agent, and basically as long as it stays on the property, it falls under the home/ranch policy to a degree. He told me that all policy's limit the non structure portion of coverage as a percentage of the total aggregate policy. For example if the property was valued at $500,000, all non structures are covered up to 40% of the total policy..in other words $200,000 would be covered. So if you had your shop burn down with everything in it, 200,000 less your deductible would be insured.
Now if a fire wiped out everything... house, barns, shop, (firestorm), only 200,000 worth of contents would be covered.......and i have way more than $200,000 worth of contents on my property. That means only 200K worth of tvs, clothes, tools, inventory, tractors, horse trailers, boats, jet skis, whatever. He said Guns, cameras and jewelry arnt insured...they require a separate policy (or rider).
I have one for my camera an it only runs $40/year for $5,000 coverage. At any rate the home/farm policy does cover liability on the unit as long as it is used only on your property.
Now if the tractor is stolen, it probably wont be covered unless it has an additional policy on itself (LIKE JEWELRY, CAMERAS, GUNS). Also, apparently the implements are a Grey area. i cant get a definite idea if there covered. still working on that.
Now if a fire wiped out everything... house, barns, shop, (firestorm), only 200,000 worth of contents would be covered.......and i have way more than $200,000 worth of contents on my property. That means only 200K worth of tvs, clothes, tools, inventory, tractors, horse trailers, boats, jet skis, whatever. He said Guns, cameras and jewelry arnt insured...they require a separate policy (or rider).
I have one for my camera an it only runs $40/year for $5,000 coverage. At any rate the home/farm policy does cover liability on the unit as long as it is used only on your property.
Now if the tractor is stolen, it probably wont be covered unless it has an additional policy on itself (LIKE JEWELRY, CAMERAS, GUNS). Also, apparently the implements are a Grey area. i cant get a definite idea if there covered. still working on that.
OP
Gobblin Tom
Gold Member
I did end up going with the JD insurance just to make sure I was covered if I was off my property. I have not even checked with my regular insurance.... Don't know if I should or not.....
OP
Gobblin Tom
Gold Member
I did ended up going with the JD insurance just to make sure I was covered if I was off my property. I have not even checked with my regular insurance.... Don't know if I should or not.....
grsthegreat
Super Star Member
Check if the insurance will repair/replace your tractor in addition to paying off the loan if the tractor is totaled/lost. When i looked into JD's insurance years ago, it only covered paying off the loan. may have changed
grsthegreat
Super Star Member
Ok, my agent finally ... after 2 days, called me back. Here goes.
Question 1: If my tractor or implements are stolen off of my property, would my homeowners insurance cover them.
Answer: NO. A separate police is required for theft.
Question 2: If i were to help a neighbor move a down tree and hit his house, am i covered.
Answer: Yes, my homeowners police liability would cover HIS damage, but not my tractor, Less deductible
Question 3 If a tree were to fall and strike my cab tractor and destroy some glass or metal, would my home policy cover it.
Answer: NO. Again need rider policy.
Question 4: If same tree hit my house or truck, are they covered.
Answer: YES. Vehicle policy covers truck, home policy covers home.
Question 5: How much would a rider cost to FULLY replace (less deductible) $45,000 tractor, snowblower, Pallet forks and Blade.
Answer: $370/yr with $500 deductible. $420/yr with $250 deductible. This covers damage, fire, theft, falling off trailer, whatever. Apparently if i was towing it and it fell off of the trailer, my auto policy fixes everyone else's rigs damaged ...cept for my tractor (unless i had the rider)
Solution: Im going to call some other farm policy companies and see what they have to offer price and coverage wise. But im going to have to bite the bullet and get some kind of coverage.
Question 1: If my tractor or implements are stolen off of my property, would my homeowners insurance cover them.
Answer: NO. A separate police is required for theft.
Question 2: If i were to help a neighbor move a down tree and hit his house, am i covered.
Answer: Yes, my homeowners police liability would cover HIS damage, but not my tractor, Less deductible
Question 3 If a tree were to fall and strike my cab tractor and destroy some glass or metal, would my home policy cover it.
Answer: NO. Again need rider policy.
Question 4: If same tree hit my house or truck, are they covered.
Answer: YES. Vehicle policy covers truck, home policy covers home.
Question 5: How much would a rider cost to FULLY replace (less deductible) $45,000 tractor, snowblower, Pallet forks and Blade.
Answer: $370/yr with $500 deductible. $420/yr with $250 deductible. This covers damage, fire, theft, falling off trailer, whatever. Apparently if i was towing it and it fell off of the trailer, my auto policy fixes everyone else's rigs damaged ...cept for my tractor (unless i had the rider)
Solution: Im going to call some other farm policy companies and see what they have to offer price and coverage wise. But im going to have to bite the bullet and get some kind of coverage.
smalltown
Gold Member
I opted for the JD insurance on the 2520 that I ordered weeks ago.
At that time I was told JD would cover my tractor on or off my property even if it was involved in an accident wihile being towed, however the insureance would cover only the remaining balance on the tractor minus a $500 deductable.
I did not ask what if it was stolen.
I would like to find a reasonable insurance policy to cover replacement, and liability in case somebody was injured.
At that time I was told JD would cover my tractor on or off my property even if it was involved in an accident wihile being towed, however the insureance would cover only the remaining balance on the tractor minus a $500 deductable.
I did not ask what if it was stolen.
I would like to find a reasonable insurance policy to cover replacement, and liability in case somebody was injured.
grsthegreat
Super Star Member
This is good interm insurance, but it really only covers JD. What if you have gotten to the point that youve paid most of the tractor and only own $1,000 more, and it gets destroyed. JD gets the $1,000, you get nada. All of the money you paid into the tractor is gone.
Thats why im trying to get coverage to protect MY part of the investment.
smalltown
Gold Member
grsthegreat I agree with you completely. That's why I am also looking for coverage for myself.
