Insurance Tractor Insurance

[SkyPup]

Just talked to my Farm Bureau agent about covering my 2004 Kubota L-3130 with 723FEL and Kubota ZD-21 with a $500 deductible and he said $150 per year. That is a great deal.

This past weekend, some friends who have a new JD 4320 with FEL had it stolen out of their barn on their trailer in the middle of the night. It seems that construction and farm equipment is easier to steal and sell than a new SUV...

The tractor equipment essentially pays for itself, it is the lack of it to work with that is scary..... /forums/images/graemlins/frown.gif


What are others paying for equipment insurance?

 

[sneaky_pete]

State Farm included my new B7400 as a part of my existing homeowners policy - no additional charges.

 

[aardvark]

When my BX23 is on my property it's covered by my homeowners policy, and the Kubota offered insurance. When it's not on my property, it's only covered by the Kubota insurance. I bought a three year policy offered by Kubota when I financed the zero percent for three years. I think my policy was either $440 or $470 for the three year time period, $250 decuctible. I don't remember. After the three years, I'll probably buy tractor insurance from State Farm, who does my auto policy, and my homeowners policy on my house in Atlanta.

 

[timb]

If that's a non-commerical use policy, you might want to shop around. I got a non-commercial all-risk inland marine policy that covers my tractor, loader, and brush hog, close to $29,000 coverage in all, w/$500 deductable, for $93/year. From research in the various forums here - it seemed like a pretty decent but not earth-shattering deal.

 

[MadReferee]

If you go with a commercial inland marine policy it not only covers the tractor but any damage to property you might do with it up to certain limits. It will also cover things like having a tow truck come to your back forty to pull you out after a roll-over, cleanup after a diesel spill into the local stream/brook, rental equipment for use while the tractor is being repaired, and a number of other extras. Cost for this type of policy is typically based on covered value. I pay $15 per $1000 of covered value.

 

[ByronBob]

part of my existing homeowners policy - no additional charges


Same here. If it's for your own use on your property then it should be just like a riding lawn mower or anything like it

 

[dmftoy1]

The existing homeowners policy will cover it up to the amount of personal property coverage you have. The thing it won't cover is damage due to your own stupidity (such as rolling it, or running it into something, etc. ) Basically it gives you theft and fire coverage. I had an inland marine until I paid off the loan and then decided to cancel it. Still not sure if that's a good thing or not! /forums/images/graemlins/smile.gif

Have a good one,
Dave

 

[Tom_H]

Don't know how accurate this is. I was told by a AAA agent that in CA subCUTs are too small to require registration, therefore are covered under homeowners insurance, but that after a certain weight the tractor requires DMV registration & would come under vehicle insurance. I see big tractors runnin' on rural roads though & don't see plates on them. /forums/images/graemlins/confused.gif I'd guess regulations vary by state, so what you read here may differ greatly from your state.

 

[gsxr1100]

I know I needed my agent to get a rider for me for my BX22. But after 1.6 years my insurance went up $0.00...go figure.

 

[snmhanson]

Does anyone have any good leads that I can call for getting basic insurance for my B7800 without having any other insurance through them? Right now I'm financed through Kubota for another 1 1/2 years and have a policy through Farmers. However, I think I'm taking it up the a** from them as they are requiring my to have a auto policy on it in order for it to cover ANY damage at all. I'm paying about $600 per year for that. I tried to explain that I don't take it off my property and it is basically a glorified lawn mower and Kubota only cares if my home-owners policy covers it but my agent is out of the office for a month and his office person didn't want to deal or listen to me. Quite frankly I am thinking of taking all of my insurance needs to another agent if something doesn't get resolved. It sounds like most other agencies would cover it but I would need to have home-owners insurance with them. What about a marine policy as mentioned earlier in this post? From what I've heard I should be able to get a policy for about $200 per year. Help, anyone?

Matt