Insurance Insurance on new tractor yes or no?

[CHF4]

Why would you?

Well, if someone asks every couple weeks that’s why. I’ll try searching better next time.

 

[Diggin It]

Board gets a lot of traffic. People ask about most things every couple of weeks. Lots of duplicate threads. And triplicate.

 

[CHF4]

Personal property coverage is normally a purchased maxim amount of coverage. For example you might have $50K PP coverage. If your tractor is going to be covered there you may need to increase your coverage. Again, for example, if you buy a $30K tractor and park it in your shed with all your other PP and the shed is a total loss you are going to max out real fast.

Your insurance company isn't eagerly giving you more coverage. If no changes are made to your existing policy you are going to be very under insured. Further inquiry might be due.

I had them send me an actual binder coverage specifically listing the tractor being covered for the loan policy. It’s under personal property & lists pp coverage at over 200,000 on the binder. Also, I have my sheds under additional structure policies, so I think I’d be ok.

Maybe I should call back to see if there is a max under items, but this should be covered because he said unless it’s a really really big tractor (aka over $200k) then should be just fine. I said it was well under 200k, (in the 40s) he said no problem.

Just only covers it while on my property- but I don’t plan on taking off it. I don’t have a truck and trailer big enough!

 

[oosik]

My State Farm homeowner's policy covers it under the Personal Property section. But only while on my own property.

 

[Jchonline]

Yes just make sure it covers 100% of the cost to replace the tractor. For me, I have the tractor in a detached garage...so they both fell under PP. I get a max of like 30% the value of my primary residence in PP protection....so that didnt cover the cost to replace the garage and tractor if it burned. For this reason I carry KTAC for the tractor.

 

[ovrszd]

Yes just make sure it covers 100% of the cost to replace the tractor. For me, I have the tractor in a detached garage...so they both fell under PP. I get a max of like 30% the value of my primary residence in PP protection....so that didnt cover the cost to replace the garage and tractor if it burned. For this reason I carry KTAC for the tractor.

Good example of what I was trying to convey.

 

[kenmac]

one thing that wasn't mentioned. If you intend to finance your purchase. The finance company may want more coverage than your current policy offers. They may ask for you to show proof of your coverage as well

 

[Jstpssng]

My next question is can I delete this thread from my app?

To do so, you would need to email a moderator with your request. However, I think that the previous replies to your question answer it best.

 

[kthompson]

CHF4, why would you want insurance? This is a question you need to address before you buy. Not all cover the same.

On the tractor you described: working tractor with a door open..catch something and there goes a thousand of so dollars. Or you have a side mount cutter on it and a pin comes out and it swings into a fender busting it and there goes a thousand dollars (this we mine) , or you make a bad turn and roll in a ditch not good for the cab or operator amount could be major and or course the two and four legged pest. There there is liability coverage just in case you have any kind of accident damaging someones property.

You will enjoy a cab tractor most of the time but pretty weather and limbs will make you miss it. Cab of course helps protect from the weather, gives you cleaner environment from dust and sprayer mist and the flying insects such as wasp and well just bugs. Again, congratulations.

 

[Jstpssng]

^^^^
Here's another one, told to me by the farmer I used to work for.

Driving through town with the mowing machine on, and the pin holding the cutter bar up fell off. He didn't notice until wiping out several parked cars... :