Insurance JD insurance question

[jdbower]

Your homeowner's policy should also cover it. Mine did in the North East.

I'd certainly call to check. My guess is that the states where it's typically covered JD Credit doesn't require the insurance. Assuming a homeowner's policy covers an undeclared 5-figure tractor is a big risk, see this link for some more information:
http://www.tractorbynet.com/forums/showthread.php?t=81636

 

[Nuru]

I'd certainly call to check. My guess is that the states where it's typically covered JD Credit doesn't require the insurance. Assuming a homeowner's policy covers an undeclared 5-figure tractor is a big risk, see this link for some more information:
http://www.tractorbynet.com/forums/showthread.php?t=81636

I declared it and my insurance co said it was fine in another state. I have not checked with my current Insurance firm, yet. They probably will charge me for it now.

 

[gunmaker]

I contacted my homeowners Ins Co (NJ Manufacturers) and was told that my 2520, considered personal property because it is not registered for the road, is fully covered under the personal property section of my homeowners for liability and damage to the extent of my coverage. The coverage applies wherever I happen to use it, whatever I happen to be doing with it, as long as I am not receiving compensation for doing so. No extra cost.

 

[Hootie]

Be aware, some (most) policies sold by the various financing entities are "single interest insurance". This means that it covers only the amount of your loan.

 

[deerhunterf350]

I contacted my homeowners Ins Co (NJ Manufacturers) and was told that my 2520, considered personal property because it is not registered for the road, is fully covered under the personal property section of my homeowners for liability and damage to the extent of my coverage. The coverage applies wherever I happen to use it, whatever I happen to be doing with it, as long as I am not receiving compensation for doing so. No extra cost.

I have State Farm Home Owners in Missouri, The Tractor is covered when on the Property that the HO Policy Covers. It is covered under the "Insured Personal Property" of the HO policy. It DOES NOT cover the Tractor while being Transported, Also if the Tractor is parked at a Friends House a mile down the Road and stolen, OH WELL, it was not on my propery.

My Automobile policy which is also with SF covers any damage that the Trailer or Tractor may do to others Property while in transport, but the Tractor is not covered as for as repair/replacement in case of accident.

I would have to take out another Policy, forgot what the Agent called it , but basically is it is a Commercial Hauling/Transportation Policy that is written for the Exact item that is being Transported.

 

[BillyP]

Be aware, some (most) policies sold by the various financing entities are "single interest insurance". This means that it covers only the amount of your loan.

Hey Hootie, how's it going? I bet it's just as dry in DeQueen as it is here in Eagletown. Do you still have the Young farm or did the new owners go with another company?

The JD insurance, with a total loss, pays fair market value.

 

[Nuru]

Yep, that was the same story for me.

 

[Nuru]

I have State Farm Home Owners in Missouri, The Tractor is covered when on the Property that the HO Policy Covers. It is covered under the "Insured Personal Property" of the HO policy. It DOES NOT cover the Tractor while being Transported, Also if the Tractor is parked at a Friends House a mile down the Road and stolen, OH WELL, it was not on my propery.

My Automobile policy which is also with SF covers any damage that the Trailer or Tractor may do to others Property while in transport, but the Tractor is not covered as for as repair/replacement in case of accident.

I would have to take out another Policy, forgot what the Agent called it , but basically is it is a Commercial Hauling/Transportation Policy that is written for the Exact item that is being Transported.

That is interesting as most of the time, if you happen to be hauling something and get into an accident, the insurance firm covers your personal property loss. But hey I could be wrong on this, but you might have a case to push them on it, if yhour tractor got hurt.