Recently I purchased a 3940HST and I got to say I am enjoying this machine. I financed the purchase and just got a notice from the lender saying I needed insurance for the tractor. Does anyone have some information on getting insurance for tractors? Also I did a little modification on my tractor that came out really neat. I took the two foot plates and the center cover off the tractor and brought them to the LineX dealer here in Orlando and had them sprayed. Looks great. I will get some pictures this weekend and post them.
Insurance Insurance information
- Thread starter jrfcowboy
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xxxsandman
Silver Member
- Joined
- Feb 24, 2005
- Messages
- 134
If your tractor isn't used commercially and is kept at your residence (on the property in which you live), your home owners insurance should be all you need. That's all I needed to for Montana's financing when I got mine, through Agricredit. Have you insurance list them as a payee on your policy, and send them proof of insurance.
James
James
Dallas_Lilly
Gold Member
I have my 3040 Insured through Equipment Insurance International at 1800-476-2379. Their rates were very reasonable. I know that my home owners insurance would cover the tractor if it was at my house when stolen or.... but the concern I had was what would cover it if I was towing it on a trailer and something happened, I do not have full coverage on my truck so that is why I spent the extra money to protect my costly toy.
ToddW
Silver Member
Hi John,
There is a discussion going on in the Kubota forum right now about insurance, most seem to favor an Inland Marine policy (which I just got my insurance agent to set up last week for my tractor)
See this link: http://www.tractorbynet.com/forums/showthread.php?t=82033
Todd
There is a discussion going on in the Kubota forum right now about insurance, most seem to favor an Inland Marine policy (which I just got my insurance agent to set up last week for my tractor)
See this link: http://www.tractorbynet.com/forums/showthread.php?t=82033
Todd
jc7622
Silver Member
My 5740C is owned by my construction company so it is insured through an inland marine policy with the company that provides me with general liability. It is about $500/year.
CurlyDave
Elite Member
One thing to be careful of.
I have all my insurance through State Farm, including an umbrella policy. Most liability limits on standard policies are too low by today's standards and recent damage awards.
If I get primary insurance for anything through a different company, they just about double the rates for the umbrella policy. So, it is better to get all of my insurance through the same company.
Also, the more important insurance to have is liability. Sure, fire, theft, rollover are going to be more common, but the amount of loss you will have is limited to the value of the tractor. Not a fun thing to pay, but not a financial death blow.
If someone happens to get injured while you are using your tractor, that can be a financial death blow to your entire family. Judgements of several hundred thousand, and even millions are not unknown.
And, it is easy to get your tractor "off your property" without even thinking about it. For instance, I had a generator delivered recently, and the way we got it off the truck was that the delivery driver slid it into my FEL bucket.
Easy, right?
Well, I wasn't on my property, I was in the street in front of it. If there had been any kind of accident I would have needed the "anywhere" insurance on the tractor...
I have all my insurance through State Farm, including an umbrella policy. Most liability limits on standard policies are too low by today's standards and recent damage awards.
If I get primary insurance for anything through a different company, they just about double the rates for the umbrella policy. So, it is better to get all of my insurance through the same company.
Also, the more important insurance to have is liability. Sure, fire, theft, rollover are going to be more common, but the amount of loss you will have is limited to the value of the tractor. Not a fun thing to pay, but not a financial death blow.
If someone happens to get injured while you are using your tractor, that can be a financial death blow to your entire family. Judgements of several hundred thousand, and even millions are not unknown.
And, it is easy to get your tractor "off your property" without even thinking about it. For instance, I had a generator delivered recently, and the way we got it off the truck was that the delivery driver slid it into my FEL bucket.
Easy, right?
Well, I wasn't on my property, I was in the street in front of it. If there had been any kind of accident I would have needed the "anywhere" insurance on the tractor...