Insurance Tractor Insurance question

[rambler]

They are also telling me when I haul it on the trailer to the dealer for any work or to my Dad's place I'm not covered.

Anyone remember the long discussion a year or 2 ago here on these forums, where it also needs _your_ coverage at the dealer's lot as well? We were told the dealers do not have coverage on the machines they are working on.

--->Paul

 

[Bear Foot Farm]

If not.... you are covered nicely thru JD.

Does that cover replacement costs for YOU, or does it just pay off what you still owe to THEM?

 

[N80]

I have a rider on my homeowners. Covers theft and damage from weather, etc. Got a flier in the mail about horse and farm insurance. I contacted them and they offer the equivalent of an inland marine policy (which I have not been able to find anywhere!) but they want $600 a year! I feel like that is too much.

I almost never tow my tractor anywhere but hate to do it with no coverage. Otherwise it never really leaves my property. Seems like $600 a year is a bit much when I might tow it once every three years.

I guess I'll just stick with my homeowners.

Here's the irony. If I'd have been sticking $600 in the bank every year since I bought it, I'd have $3000 already saved up in addition to what homeowners and auto would cover. For a tractor worth maybe $16,000 just saving up your own insurance seems like a better option than an expensive policy. But then who of us could keep our hands off the money we were saving for insurance? Not me!

 

[beckmurph]

If trailering and it falls off the tractor is covered but if a car smacks into it when it comes off the trailer I would be screwed. Rob

With Nationwide, my agent explained to me that when towing, your auto coverage is extended to what you are pulling. Such as liabilty ins for your tractor if it falls off your trailer and hits another vehicle.

 

[N80]

I'm pretty sure that's what USAA says as well, but it only covers a nominal amount on the load (the tractor) that you are pulling. So you may be okay on liability but you won't get anything on the tractor itself.

 

[wampum]

Tractor coverage at Nationwide was $175.00 a year. The rest,or liability was $725.00 a year. Liability is the sticker,if you are on the road and cause an accident,you are in a world of hurt,with out insurance. Say you go to a friends house and unload,if you have to unload on a street you cause an accident you have a problem. Now you are off the road and working on the friends property,any damage you cause(backing into a visitors car,causing physical damage to some one) you are up the creek with out a paddle. If I understand the Kubota insurance,it only covers replacement of the tractor,liability is not covered. At least thats what the local Kubota dealer told me,please correct me if I am wrong. The other day I was plowing my daughters drive way,(she has 5 acres beside me I gave her) her sister in laws van was stuck in the drive way. If I would have slid into the van or did damage to it,I would have been liable. Just some things to think about.

 

[NH-Rob]

With Nationwide, my agent explained to me that when towing, your auto coverage is extended to what you are pulling. Such as liabilty ins for your tractor if it falls off your trailer and hits another vehicle.

What my agent told me is that I would need seperate coverage for the trailer. It seems to me that you never get done buying ins. always something else that needs it.
Rob

 

[greasemonkeyok]

"but they want $600 a year!" If you move the tractor infrequently, it would be cheaper to hire someone to move it for you.

 

[Ironhand]

Lots of misunderstood insurance concepts out there. Handling claims is what I do for a living. I would strongly urge you to speak with someone at your insurer's claims department and read your entire policy. Unfortunately, many agents provide incorrect advice about coverage.

Many if not most homeowner policies provide coverage for your personal property (which your tractor is...) worldwide. There are coverage limits for items if used for business, and may be limitations for which perils (fire, vehicle damage, theft, etc) are covered if the tractor is away from your home.