insurance

donsdualy · Apr 16, 2012

Just recently purchased a tractor under finance, I'm having issues trying to find insurance for it, it is for private use, possibly looking to venture into a small business with it but can't seem tonfind insurance for private use. Any one know of a company that could insure me for private use? Thanks in advance!

Muhammad · Apr 16, 2012

Welcome to TBN.

PatasColo · Apr 16, 2012

Hey donsdualy,
Call your homeowner's insurance agent. It is likely already covered if your private use is on your own home property (I just went through this). If you want it covered while trailering, that is often covered by your auto insurance. If you want it covered for use on another property (not commercial use, but more like for helping out a neighbor), you may require some type of insurance rider (on your homeowner's policy)... for me it amounted to $86 annually (really not much).

None of this is legal advice... you must check into things yourself. My agent called the insurance underwriter, which is important since they are the ones who back you (or do not) when something happens.

And finally, use the TBN search feature: Put in the words "tractor insurance" (no quotes), and read the other related threads. There is a lot of good info already here on TBN. :thumbsup:
-Mitch

creekbend · Apr 16, 2012

The previous member offered you sound and useful advice. Good to have you aboard.

grsthegreat · Apr 16, 2012

All homeowner policies can add a tractor for private use. State farm calls this an Inland Marine policy. Mine is covered for Commercial use also, and it cost something like $140/yr.

If its ONLY private use, tehy can add a rider like they would issue for jewelry, guns, etc.

namesray · Apr 16, 2012

welcome to tbn.:thumbsup: all posts so far are right depending the route you decide to take. i use to have mine on my farm owners policy, but would not cover in transport or for my small business. i have switched to an commercial "inland marine policy". mine is setup to cover for just about anything: theft, fire, storm damage, vandelism, roll over, if it flys off the trailer, or even if i drop a tree on it. also covers it if i collide with something on someone elses property, like collision on vehicle coverage. i think it is the only way to go to cover everything, at least that i have found and discussed.