Insuring a tractor

[8561]

Rob - I think you've got it. ATV's are not personal property under the homeowners and they would not be covered. However, your ant bed example is absolutely covered. Remember, there is no exclusion in the policy for stupidity.

 

[DiezNutz]

Rob - I think you've got it. ATV's are not personal property under the homeowners and they would not be covered. However, your ant bed example is absolutely covered. Remember, there is no exclusion in the policy for stupidity.

I'd like to think it's because the underwriters believe that if we're financially responsible enough to buy a tractor, intelligent enough to know how to operate and maintain it, appreciative of how lucky we are to have it, then we're not going to be dumb enough to destroy it if we can possibly help it. That's probably my own little fantasy, as I imagine even though all that may be true, they're looking purely at the numbers and statistically speaking tractors may have historically been a fairly low loss risk. Can't figure out why else they'd be so "generous" with their coverage.

 

[x703jko]

....Are you still getting a rider? There is no need for one.

Confirmed today that I don't need to do anything. Tractor is covered under homeowners.

 

[8561]

I'd like to think it's because the underwriters believe that if we're financially responsible enough to buy a tractor, intelligent enough to know how to operate and maintain it, appreciative of how lucky we are to have it, then we're not going to be dumb enough to destroy it if we can possibly help it. That's probably my own little fantasy, as I imagine even though all that may be true, they're looking purely at the numbers and statistically speaking tractors may have historically been a fairly low loss risk. Can't figure out why else they'd be so "generous" with their coverage.

Think more along the lines of a homeowner who takes pride in homeownership and is willing to spend not only their disposable cash but their free time as well on home maintenance are probably the types of folks who do a good job taking care of most home maintenance, do preventative things to help protect their property in general, etc.

 

[TobyH]

But I think I went through this with my ATV's they are not considered personal property.

Rob

In NY ATVs are registered (supposed to be) with the DMV. Tractors are not. Could be the difference.

 

[RobJ]

In NY ATVs are registered (supposed to be) with the DMV. Tractors are not. Could be the difference.

In Texas I think they are like dirt bikes. You can title them if you want. I think a dealer will title them when they are new. If you purchase used you don't have to unless you want to pay the taxes.

On my old jon boat and motor (1970), I have a title on the boat and one on the motor. I think nowadays you can only get one.

 

[Agent007]

My agent told me that i have a limitation of 10K$ if my tractor is stolen! So i need to take a seperate insurance for it. Is that normal?

 

[8561]

My agent told me that i have a limitation of 10K$ if my tractor is stolen! So i need to take a seperate insurance for it. Is that normal?

No. Make him show it to you in the policy.

 

[Cap-n-Cray]

I just called my Allstate insurance agent and my homeowners policy does not cover the tractor. He could not suggest any one to cover it. I guess I need to find coverage. Kubota sent me a form for KTAC insurance for $150.48 per year or $451.44 for the life of loan. Is there anything out there better?

Cary

 

[DiezNutz]

I just called my Allstate insurance agent and my homeowners policy does not cover the tractor

Time to find a new agent? If you've read the whole thread, all of us w/Allstate have reported that the tractor is covered, no limit, as long as it is being used to maintain your property (while on the property). It might be a regional thing, but I wouldn't take his no for an answer... push him harder.