tractor ins

[megha_jones]

hi all.

just got a new lk3054xs (kioti) and financed it at my credit union. my home owners insurance will not add it on. i want to get insurance on it. any suggestions.

thanks cj

 

[Soundguy]

I'm surprised your homeowners wouldn't cover it.. or offer an inland marne policy...and i'm also suprised that the financer did not 'offer' coverage.

When i financed my tractor with ford credit.. I had the option of getting a statement of coverage from my homeowners ins.. or purchasing some coverage from the lender... ins from the lender was decently cheap.. and it was going to be a bit of paperwork to get a specific endorsement thru the homeowners insurance.. although they said that if it iwas for 'yard maintenance' it would be covered under the homeowners ins.. just not specifically endorsed.

Try calling your local farm bureau.. I'm guessing you will have all sorts of insurance possibilities there. Also.. many insurance companies offer lots of farm type policies.. even ones for livestock.. etc.

Good luck.. and let us know what you find.

Soundguy

 

[at_obuk]

My homeowners just added it on. Said as long as long it wasn't for commercial work and just used around the home no problem (ALLSTATE).

Eric P.

 

[ByronBob]

Same here. My homeowners covers at no additional cost.

Sounds like it's time to go shopping for new insurance. Competetion is fierce and someone will step up to the plate for your dollars.

 

[EdwardB]

My carrier said they would cover the non-commercial use of my tractor around the house, or if driven to another property. If it was being transported, my auto liability insurance would cover it. HOWEVER, if it was damaged during trailering, it woould not be covered under either policy. /forums/images/graemlins/tongue.gif

Go figure. /forums/images/graemlins/confused.gif

I am copnsidering my options. Fortunately, I haven't had the need to transport via trailer, but I'm sure I will once all my buddies want "help" with their projects.

 

[slowrev]

I think that coverage is for Liability coverage. Which is much more important than coverage on the tractor itself. If the tractor is damaged you are out what it costs to repair the tractor. However if your tractor is involved in an accident with no liability coverage, you might lose your tractor and home !

 

[JOELENAHAN]

When I bought my tractor, I was told that I could get get insurance through Kubota or through my homeowners ins. My agent gave me a qoute, not through my homeowners ins., but through another carrier for an inland marine which was cheaper than both my homeowners and Kubota could offer.

 

[DiskDoctr]

CJ,

When I financed my Mahindra, I called my insurance agent and he was able to add it as a rider (increased cost for increased coverage). About $60 or so a year for $25k

Non-commercial, otherwise, as others mentioned- Farm Bureau.

Ed B- I guess if you have a trailering accident that destroys your tractor, you should get a tow truck to bring it home and drop it in the yard, then try to explain how that tree fell and smashed it to bits /forums/images/graemlins/crazy.gif Just kidding- making fun of insurance coverages. I'll have to look into that myself, let us know what you eventually find out about this.

-JC

 

[caddison]

If you have a small farm and are engaged in any sort of farm operation you can add farm liability to your policy along with coverage to your tractor and implements. By adding the machinery extension to your tractor (Farm Bureau) your tractor will be covered for theft, rollover, acc. shooting etc. you can also add coverage for additional farm business on a limited basis. If you are going to engage in any sort of commercial activity you should get commercial liability. Most homeowners contents coverage will cover your CUT on premise under your contents coverage if the tractor is not used in any sort of commercial application. They may have a hp limit but then most CUT's are under 30 hp.

 

[Soundguy]

</font><font color="blue" class="small">( They may have a hp limit but then most CUT's are under 30 hp.
)</font>

Uh-oh.. I may have a problem... My CUT is just a tad bigger than that /forums/images/graemlins/shocked.gif

Soundguy

 

[EdwardB]

</font><font color="blue" class="small">( I think that coverage is for Liability coverage. Which is much more important than coverage on the tractor itself. If the tractor is damaged you are out what it costs to repair the tractor. However if your tractor is involved in an accident with no liability coverage, you might lose your tractor and home !

)</font>

Fortunately, I've got excellent liability coverage in the form of an umbrella policy. What I'm really concerned about is the fellow trying to pass me (or the fellow passing a guy in the opposite lane) smacking me or my trailer.

 

[MadDog]

This is a dangerous subject to give advice about as policy language may vary from state to state and also from company to company. However, FWIW, our homeowners' insurance covers at no extra cost for both both loss or damage to tractor (contents coverage on home) and liability, so long as it is used on our property.

 

[caddison]

Soundguy....Now there may be an interesting poll. How many HP is your CUT?

 

[caddison]

Maddog.......You are correct. Each company has different policy language and may look at CUT's differently and each underwriter can have a different opinion as well. If the tractor is used on premise only it would be covered under your personal contents coverage. Always consult with your agent as to the coverage your policy offers as well as the limitations. If you have questions make sure you know how a claim will be settled in the event of a loss. No two insurance companies are created equally!

 

[megha_jones]

thanks 2 everyone for you input. I've tried to ad it to my home insurance but my insurance company(threw the farm bureau but not farm bureau because of age of manufactured home) will not add it on. farm bureau insurance them self will not insure it by itself only with a home. since i got a better rate threw my credit bureau i cant get the ins. offered by the manufacture. i will see if i can find something about inland marine. thanks all for your help.

cj

 

[MicroPilot]

Tractor ins

I thought this thread was about a tractor drive-in, like the restored car drive-in get together's, but for tractors!!!

/forums/images/graemlins/laugh.gif