Spudland_Dave
Veteran Member
Reading the link provided...the way I interpret it was that it only covers a machine financed by Deere, during the finance period...after that, your SOL and relying on your Home Owners anyways....
Insurance for new 2520.
- Thread starter lvivuk
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prosperity
Platinum Member
Spudland_Dave said:Reading the link provided...the way I interpret it was that it only covers a machine financed by Deere, during the finance period...after that, your SOL and relying on your Home Owners anyways....
This is true - but, when I paid off my 2210 early, Deere did send me a pro-rated check for the unused insurance.
hemiguy
Silver Member
Since I use my 2520 mostly OFF my own property, I opted to get coverage under what is called an "Inland Marine" policy. This covers it either on other folks property, on my property,or being transported on my trailer to/from my place or the dealer. I'm not really sure what the exact amount I pay is cause I have this bundled with my liability coverage.
You may want to consider the transport thing in your decision. Deere's insurance probably covers the machine if they transport it to/from the dealer for service. You may not be covered if you transport it yourself on your own trailer. I'm also pretty sure neither your homeowners nor auto insurance covers it in that situation either.
You may want to consider the transport thing in your decision. Deere's insurance probably covers the machine if they transport it to/from the dealer for service. You may not be covered if you transport it yourself on your own trailer. I'm also pretty sure neither your homeowners nor auto insurance covers it in that situation either.
hemiguy said:
Hemiguy speaks the truth
I have been in the insurance business for over 12 years...almost without fail; any insurance product purchased from any retailer is nothing more than pure profit to the dealer
An inland marine rider on your homeowners gives you "all risk "coverage on or off your property and during transit, normally the deductible is less than the deductible on the primary residence, my deductible is $100 on the inland marine and $1,000 on my house. Again....any time you buy any insurance product from a dealer/retailer you are most likely buying an overpriced product.
I contacted the insurance company today to make sure I was
covered while away from premises. John Deere uses Century Insurance,
a standard company rated A- by AM Best. The agent assured me that
my tractor is covered while away from my premises and included
transporting. The only perils that were not covered was war and nuclear.
By the way there is a 500 deductible on policy.
When I pay off tractor next year I will get my own policy but for now, I
am satisfied with my current policy. Anyone with this policy that has
questions can contact Century Insurance Company @ 877-782-6873.
Best's Rating Center - Company Information for Century Insurance Group
covered while away from premises. John Deere uses Century Insurance,
a standard company rated A- by AM Best. The agent assured me that
my tractor is covered while away from my premises and included
transporting. The only perils that were not covered was war and nuclear.
By the way there is a 500 deductible on policy.
When I pay off tractor next year I will get my own policy but for now, I
am satisfied with my current policy. Anyone with this policy that has
questions can contact Century Insurance Company @ 877-782-6873.
Best's Rating Center - Company Information for Century Insurance Group
Wombat125
Gold Member
From my new 5303 post:
Just got off phone with State Farm. They said I could either leave tractor under homeowners, or I could get "a personal article insurance". Homeowners covers most things like fire, theft, vandalism, plumbing leaks, snow load, riot, etc. Personal article insurance covers everything. I just left it under homeowners.
I explicitly told them that I might mow the neighbors' fields now and then, but would not be running a proper business. They said that was fine and that they wouldn't expect a tractor never to leave the owner's property.
They also said that that the value of the tractor really didn't matter.
Just got off phone with State Farm. They said I could either leave tractor under homeowners, or I could get "a personal article insurance". Homeowners covers most things like fire, theft, vandalism, plumbing leaks, snow load, riot, etc. Personal article insurance covers everything. I just left it under homeowners.
I explicitly told them that I might mow the neighbors' fields now and then, but would not be running a proper business. They said that was fine and that they wouldn't expect a tractor never to leave the owner's property.
They also said that that the value of the tractor really didn't matter.
Wombat125 said:
Get it in writing...
All insurance contracts are written on a standard ISO form. Most if not all homeowner痴 insurance contracts have a specific exclusion for any equipment used to service the primary residence (your home) if that equipment is taken off the primary residence property unless it is another property specifically listed on the insurance contract (during transit there is no coverage
). The exclusion would be for both property damage to the equipment and would also exclude any resulting liability claim. A homeowner痴 insurance policy is like any other contract?read the find print! This exclusion is on the contract to stop the homeowner from using his equipment to make a living, not what a homeowner痴 policy was designed to do.
That is why the industry has a CGL (commercial general liability) contract
Do yourself a favor, schedule your tractor on an inland marine with a stated value and save yourself a potential headache down the road.
ScottK
Silver Member
Deere charged me only $120 total for FIVE years ($24/year). You can't beat that with all losses and damage covered. Deere checked with my HO insurance and they told them they don't cover tractors. I have a top of the line MetLife homeowners policy issued via AAA of WA state. Even if my homeowners insurance covered some of it there is no reason to pass up such a deal with Deete (I have a 2320) if only so I can avoid filing claims on my HO policy.
Alright from a dealers point of view. JD insurance will pay the dealer to fix your machine, no questions asked. New parts from Deere. We have run into several claims with other insurance companies where they wanted us to use salvage yard parts or repair the dent in the hood and repaint. We are not body shops we repair farm equipment. With Deere they put a complete new hood already painted ready to bolt on, they use only new parts no matter how old the machine is. We make one phone call to Deere and fix your machine. They let us make the call on what needs to be repaired. With other insurance companies we have to contact the company they send an adjuster then we argue over what to repair and what to repair it with. One other thing the dealer makes nothing on insurance, although I am sure Deere does. It just means clicking a box for Deere or outside insurance on the note. The only reason I care which one you use boils down to customer satisfaction.