New Tractor Insurance

[JethroB]

You really need to look at an Inland Marine Policy. I have mine through Farm Bureau. It's relatively cheap for the year, and I have all my equipment and attachments on it. It's less than $1000 a year about $70,000 worth of property on the list. Homeowners will not cover damage you inflict while working it. Also, at least here in Texas, the deductible on the Homeowners policy is usually 1% of the value of your home. $150,000 house and it's a $1,500 deductible. My deductible is $250 on each piece of equipment. So if I need it for the tractor I've already paid for the policy just by the deductible savings. By the way Farm Bureau was the best price I found when I shopped it. Your mileage may vary.

Does that include commercial or for hire use? The equivalent for me @$70k would be $200 with a $1k deductible.

 

[STCL01]

Does that include commercial or for hire use? The equivalent for me @$70k would be $200 with a $1k deductible.

No. I"m just farm and ranch. My guess is that you are going to have to have a different policy for commericial. You need to contact your insurance provider and see what your options are.

 

[Beaver Cove Deere]

I live life by: "If I break it, I own it".

Homeowners insurance covers the stuff I CAN NOT control.

 

[hube2]

No. I"m just farm and ranch. My guess is that you are going to have to have a different policy for commericial. You need to contact your insurance provider and see what your options are.

I checked into this when I got my tractor. I thought I could do "emergency snow removal" as there is a big call for this around me whenever we get a big storm. The cost of the liability insurance I need to do this made it not worth it for something I'd do part time.

 

[scaredychicken]

I was so glad to have Kubota-arranged insurance, when I had a claim recently. It was an option to going with homeowner's insurance policies, when I bought the new tractor. They took over the claim and dealt directly with the dealership throughout the process. Covid slowed things down a bit, but I just paid the deductible (and taxes). Transport for 1 hour, to / from the dealership, was part of the claim.

I think Homeowner's insurance would work, but I think it would be more complicated in the event of a claim. Tractor insurance providers know tractors. just my thoughts.

cheers, CK