Insurance

[presnewt]

Does everyone out there insure their tractor and implements? I am making my first purchase (about $20,000), will be used strictly for farm use. My dad farmed all his life but I don't think he ever insured his stuff. Thanks

 

[jlgurr]

I have a GC1705 with insurance coverage. Non-commercial policy. I think it's about a $100 per year. Includes the MMM attachment. My other attachments are not valuable enough to include IMO.

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[Industrial Toys]

I had an agent come through a few years ago. He itemized every building and peice of equipment. Talk about a shocker, and it would be much, much worse today.

Bottom line, no insurance what so ever for me.

 

[oosik]

My tractor & implements are covered thru my homeowners policy. This coverage is only while I use the tractor on my property. There is no additional cost for the coverage.

 

[Looking4new]

Because my tractor is financed the finance company wanted a insurance policy on it to cover them in case of a loss. I can understand that. I pay State Farm 400$/year for an Inland Marine policy that covers the tractor for the full purchase price even though there is only 16 months left on it. (I shelled out 10 grand down stroke). I am allowed to go to town (2miles) but that is as far as I am covered and that is only for fuel.

 

[DK35vince]

My tractor, attachments and zero turn are on an Inland Marine policy.
$164/year.

 

[George2615]

As mentioned, when a new tractor is purchased the company financing usually requires it be insured at least until paid off. Most homeowners policies will cover this if you notify them. If you do not have to finance then insurance coverage is up to you.
I did not finance my tractor purchase and my homeowners ins. has limits. I also obtained an Inland Marine policy that covers much more than HO ins. Covered perils include, but are not limited to: collision, theft, vandalism, wind, hail, earthquake, fire, flood, tornado, overturn, ingestion of foreign objects and vermin infestation. Also included is glass coverage and tire damage.

 

[k0ua]

I still have KTAC on the Kioti. Not the cheapest insurance, but good coverage. I needed insurance of some kind when it was financed, But I have kept it now that it is payed off.

 

[Fossil Farm]

Does everyone out there insure their tractor and implements? I am making my first purchase (about $20,000), will be used strictly for farm use. My dad farmed all his life but I don't think he ever insured his stuff. Thanks

If you are really using it for farm use, you should have an insurance policy for all your farm equipment and liability coverage, especially if you are on the road and renting cropland. If you really mean personal use, check with your homeowners insurance to see what is and is not covered. You probably will have to have an additional policy to properly cover it, as said, usually around $100 per year.

 

[roadhunter]

My tractor & implements are covered thru my homeowners policy. This coverage is only while I use the tractor on my property. There is no additional cost for the coverage.

When you say covered what exactly do you mean?

I am curious as my insurance company never offered any no cost insurance for my tractor or implements.

Inland marine here. Couple hundred bucks a year.