Insurance Help

N80 · Dec 1, 2005

My homeowners will cover up to $3000 and my auto (same company, USAA) will cover $3000 worth of towed equipment. Nice to know and nice to have but clearly not near enough for fire, theft, major vandalism, flood etc.

I'm going to talk to the Farm Bureau today. You have to join ($35) but there are other added benefits to FB as well. I called Kubota's underwriter to see if I could add this insurance, they seemed puzzled that I hadn't bought the insurance at the time of financing (I probably should have) but said they'd send me a quote. Never did.

3RRL · Dec 1, 2005

( If he can't even insure himself how good of a job is he doing for you?)

That explains it...he's probably not a US Marine /forums/images/graemlins/smirk.gif

ruglad03835 · Dec 1, 2005

Dave,

What do I need for paperwork to register my tractor in NH? Just a bill of sale?

ruglad03835 · Dec 1, 2005

I just got off the phone with my agent. I have Farm, Family, and Home through the New Hampshire Farm Bureau. My tractor is covered to the limits of liability on my homeowners policy as long as it is not used in a commercial operation. It is covered for full replacement value if stolen. I asked him if I took it off my property to plow a neighbors driveway or to dig out the church parking lot would I be covered. He said this is non commercial incidential usage and I would be covered.

MadReferee · Dec 1, 2005

( What do I need for paperwork to register my tractor in NH? Just a bill of sale? )

That should be it. Your town clerk should have all the information you need.

You should take a look at RSA 261:64 and RSA 261:83 to see if you really need to have plates.

New Hampshire RSA 261 index

N80 · Dec 1, 2005

I just talked with Farm Bureau and they will not insure your tractor unless you have another insurance policy with them, even if you are a member. Even the local agent agreed it was stupid and then tried to get me to switch my home and car insurance to them. Um, no thanks. So much for FB. I guess I'll call Kubota's underwriter again.

This has been a frustrating process, even at Farm Bureau, when you ask if they insure a tractor they act like you've asked them to insure the Titanic.

Inland Marine doesn't seem to have their own 'store front'.

MadReferee · Dec 2, 2005

( Inland Marine doesn't seem to have their own 'store front'. )

Inland Marine is NOT a company. It is a type of policy just like homeowners or automobile. Most insurance companies will write this type of policy. Ask your agent. If he doesn't know what it is then change agents. /forums/images/graemlins/confused.gif

N80 · Dec 2, 2005

I guess you're right. I know very little about insurance, but there are certainly Inland Marine underwriters and adjusters groups. So I just assumed that someone must underwrite this type of policy for the mainstream insurers and that the underwriter was some company named Inland Marine.

It seems that the problem is that none of the typical auto/home insurers will give you an Inland Marine policy if you don't have car or auto with them.

I use USAA and I'm not planning on changing despite the fact that they don't do Inland Marine policies. They are way to valuable an asset to drop for that reason.

However, it does gripe the heck out of me that my local county Farm Bureau won't insure my farm implement.

I'm going to call USAA and talk to a higher-up and see what they can tell me. They mentioned something about them getting the policy from another company whan I first started this process, so maybe they can get someone to write an Inland Marine policy for me.

Had I known all this before, I simply would have gotten the Kubota insurance, but my dealer neither explained it or pushed it. Oh well.

flusher · Dec 3, 2005

When I bought my B7510HST last May, my Farmer's agent had fax in a signed proof of insurance form to the Kubota dealer before financing could be approved. And the basic insurance only covers the tractor while on my property.

Don't know if my insurance covers the tractor if I have to tow it to the dealer for repairs (which, thankfully, has not happened, yet). This thread reminds me that I gotta check with my agent pronto on this issue.

wvmapler · Dec 11, 2005

I work as an adjustor and yes, all the insurance jargon is confusing at times. I have a farm policy thru Farm Family with 1 million in liability. I just purchased a L3400 Kubota and it costs me $ 90 per year for $ 15000 in full coverage with a $ 250 deductible. I don't have to purchase any liability as I already have the 1 million farm umbrela liability policy I have and it covers me even if I am working for someone else on their property. I know some of you stated that you would absolutely not switch to Farm Family, but might be something you would want to look into. They are a tremendous company and have excellent rates. No, I don't work for them but used to for several years when I owned an indepent adjusting firm. I make maple syrup and the liability policy on my syrup operation is great along with the product liability. I know, every little bit adds up, but better safe than sorry in this day of "jerk off" attorneys just waiting like buzzards. From working in claims for 10 years, I have seen about everything. People try to save a few $$$ and it ends up costing them big. The rates that I pay for the tractor are $ 6 per thousand for the tractor and loader.

Hope this helps and if you have any questions, I can try to answer them. /forums/images/graemlins/smile.gif