Liability Insurance

[Coyote machine]

This is not true. I have tractor coverage through CNH. It is called (Direct PDI) direct physical damage insurance. I covers my tractor on or off my property, on the road, etc. Full coverage runs about $210 a year. This NOT a liability policy but coverage to protect my investment from damage on or off my property.

CNH Industrial Capital - Commercial Equipment Financing, Leasing and Insurance services

Your CNH is NOT a liability policy, as you stated, and thus is useless in protecting you against damage you might do/cause when off premises. (I suspect CNH offers this to financed tractors, or is it available to no loan buyers too?).
That's what almost everyone is looking for today, is to not have something/someone able to come back on them for liability issues. The risk of not having liability coverage when off premises is not worth the downside, IMHO.:confused3:

 

[2458n]

Your at risk doing anything with your tractor. What if you run into someones house,dog or new car. You would be held at fault. Your insurance company knows this and will price your insurance to reflect this. No good deed goes unpunished.

 

[George2615]

Your CNH is NOT a liability policy, as you stated, and thus is useless in protecting you against damage you might do/cause when off premises. (I suspect CNH offers this to financed tractors, or is it available to no loan buyers too?).
That's what almost everyone is looking for today, is to not have something/someone able to come back on them for liability issues. The risk of not having liability coverage when off premises is not worth the downside, IMHO.:confused3:

As I said, my CNH policy is to cover my tractor for physical damage. It is available whether you financed your tractor or not. My tractor is not financed so after spending over 25K cash I wanted a policy to protect my investment. Fire, Theft, Glass breakage, Tires, and Accidents were my main concerns.
Liability is a separate policy and is expensive.

 

[Dave M7040]

My first question is about the amount of land you own and is it in one continuous piece. My experience is that most home owner policies describe the garden tractor their normal home owner policy will cover, Usually it is done by HP. If you fit this criteria the general liability feature of your policy will protect you when sued. If you have enough land to get into a farm policy the tractor coverage is much more useful, complete and provides peace of mind. Really, the cost of your tractor is tiny compared to the cost of just defending yourself against a law suit. Try some rural insurance co-operatives and you may find more flexible companies. Never accept $ for work or you totally change the risk you are taking. I will only help my neighbors for a serious emergency and before I start make the insurance situation very clear. My company included a rider to allow me to travel a short distance to clear snow at my two brothers' homes. Just driving on public roads has risks and insurance requirements.
Dave M7040

 

[Capricious]

Some discussion of liability issues here:

http://www.tractorbynet.com/forums/owning-operating/321405-how-much-do-you-insure.html


If you are working on a non-profit's property, do they have coverage that will cover you & tractor while on their proeprty?

 

[mark02tj]

Many home owners insurance policies also include a "personal liability" clause that will cover you if you do something that someone sues you over while you're out and about. For example, if you're walking down the sidewalk, inadvertently bump into someone and that person falls and decides to sue you, your personal liability policy will kick in at that point. I don't know if that would cover you while you're on your tractor or not.

I have a renters insurance policy on my tractor as I don't own the land I live on. My policy specifically covers me on the property I live on as well as on other property if I'm doing something there (I rent some garden space up the road). It also covers me on the road. It also has personal liability coverage up to $250k in case I damage someone else's property - whether on (or with) the tractor or off of it. Cost is about $200 / yr.

Talk to an independent agent rather than a captive agent. You will have a lot more options.

 

[oldballs]

The best that I can tell, the Umbrella Policy added to my Homeowner's covers me for liability off the property doing non-commercial tractor work for my neighbors and family. It cost $128 per annum for $300,000 coverage. My cars are also included with the same company for the past approx. 40 years (American Family). As to the details in the policy, I can't comment cause I'd probably go blind...and my net worth ain't all that much.....just as a point of reference. Sometimes a neighbor offers me some cash, sometimes not, but I help them anyway. My sons usually pay cash for mowing their places. But I don't know how this would effect the liability.
Cheers,
Mike

 

[ultrarunner]

Having the only tractors in my city neighborhood... I'm always getting asked to do work for people.

As tempting as it is to pick up a few dollars I always politely decline.

Only exception is my immediate neighbor... he won't let me tow distance with my pickup and insists I take his Diesel Excursion...

 

[chim]

I appreciate all the comments and suggestions. There is one agent who sounded promising and is to get back to me soon. I'm glad that we don't have snow in the forecast anytime soon. The only offsite activity I have till it snows is to keep after the Widow's lawn and she's right across the road. Thanks again.

 

[MinnesotaEric]

Thanks to George, I was able to cover replacement cost on $61,000 of equipment for $378 a year. This has allowed me to who liability as a separate coverage, a true time saver.