Tractor Insurance

Bluesteel · Jan 8, 2015

Having some issues on insuring my tractor. My insurance agent who we've had for 30 years said my home owners insurance company only want's to insure it for $10,000. He told them that was crazy because the tractor was valued at almost 3 times that amount. He's working with other companies but not having much luck. He is an independent agent so has access to several companies. I really hate to change homeowners insurance. I'd like to find a company who would just insure the tractor. Anyone have any issues with insuring their tractor and what companies do you have. Thank you.

HEC · Jan 8, 2015

I had problems also as they wanted me to take out a completely separate policy from another company and it was very expensive . I took the advice of someone else on this site and looked up cnh insurance on the internet and will probably go with them. Just send them an email and they will get right back to you with a quote .

jeff9366 · Jan 8, 2015

Have you enquired of your LS dealer if LS offers insurance? It a tractor is financed, every finance company requires insurance to mitigate risk.

Kubota has its own insurance company, KTAC, Kubota Tractor Acceptance Corp.

LS probably has something similar.

oldballs · Jan 8, 2015

I can tell you what I did on the subject, but you'd be further ahead if you did a search on the subject and learn a lot more about the subject.... from many of the TBN'ers who have already been thru it....just sayin'.

Bluesteel · Jan 8, 2015

I did a search and read a few posts. Didn't come across any new information unless I missed some.

The tractor is not financed.

crappie hunter · Jan 8, 2015

Check with you insurance company for a MARINE POLICY thats how i havemy tractot insured.

George2615 · Jan 8, 2015

I have my LS insured thru CNH Capital. The parent company of LS. They have reasonable rates. I have the PDI (Physical Damage Ins.).

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

jel1988 · Jan 8, 2015

Mine is through Agri-Credit

ozley · Jan 8, 2015

George2615 said:
I have my LS insured thru CNH Capital. The parent company of LS. They have reasonable rates. I have the PDI (Physical Damage Ins.). CNH Industrial Capital - Commercial Equipment Financing, Leasing and Insurance services

Are you sure parent company of LS I would think it would be the parent of New Holland and Case part of Fait.

George2615 · Jan 8, 2015

ozley said:
Are you sure parent company of LS I would think it would be the parent of New Holland and Case part of Fait.

I misspoke, LS is or was associated with CNH. At one time LS had an agreements with Fiat. Fiat purchased New Holland which is a division CNH Global.

crappie hunter · Jan 8, 2015

My MARINE POLICY is thru Allstate.

Underdog57 · Jan 8, 2015

I just upped the contents coverage on my garage by $20,000. I figure the main risk is either fire or theft.

Bluesteel · Jan 9, 2015

Thanks for all the replies. I'll pass this info on to my agent. That CNH looks like a strong possibility.

oldballs · Jan 9, 2015

Bluesteel, you got me to thinking about my coverage. So I got the policy out. Most of my concern was with liability, but my HO does show that the tractor/attachments are also covered for fire, theft etc.....sort of like my truck. This covers both on and off the property. The original policy was written at about $18,000(new), but I don't know what that would mean after several years. Deductable is $250 and the cost is $52 per year if that is any help. Think I call up the agent and go over it again.......And......this is for non-commercial use. As for accidents to the tractor itself, I dropped that coverage which was from another source.
Cheer,
Mike

Bluesteel · Jan 9, 2015

Update: I think we have the insurance issue worked out. We are going to change companies who carries our homeowners insurance. The new company will insure the tractor for the full amount. It also has coverage if it is off the property for personal use. The total new amount is less than I was paying before with same coverage, deductible and adding on the tractor. When we meet with agent and finalize things I should know the break down on costs. Thanks for all the replies.

cmore · Jan 10, 2015

Bluesteel said:
Update: I think we have the insurance issue worked out. We are going to change companies who carries our homeowners insurance. The new company will insure the tractor for the full amount. It also has coverage if it is off the property for personal use. The total new amount is less than I was paying before with same coverage, deductible and adding on the tractor. When we meet with agent and finalize things I should know the break down on costs. Thanks for all the replies.

Can u give me a ball park figure of your cost?
Farm Bureau quoted me $10/1000 per year and I have home, auto and umbrella with them. Which seems high to me.

Bluesteel · Jan 10, 2015

Yes I will. I don't think we're scheduled to meet with agent until the 19th. I'll let you know.

Hinomotoman · Jan 12, 2015

cmore said:
Can u give me a ball park figure of your cost?
Farm Bureau quoted me $10/1000 per year and I have home, auto and umbrella with them. Which seems high to me.

My LS is insured by Farm Bureau for $20,000 at a cost of $110 a year. My LS dealer told me they didn't offer insurance so I'd have to get it added to my HO policy. FB wouldn't add it to my HO. It's a policy all by itself.

Eugene

jaydee325 · Jan 12, 2015

Hinomotoman said:
My LS is insured by Farm Bureau for $20,000 at a cost of $110 a year. My LS dealer told me they didn't offer insurance so I'd have to get it added to my HO policy. FB wouldn't add it to my HO. It's a policy all by itself.

Eugene

That is interesting. I just changed over to Farm Bureau. They scheduled my tractor at a value of $22,000 with $100 deductible for $50/yr. I too moved home and auto over to them. The only thing they could not cover at a competitive price was my motorcycle. That is still with Progressive.