Tree falls on Tractor will Homeowners insurance cover it?

FastPauly · Nov 9, 2010

I will take a lucky guess at the cost......$7,777.77 :confused2:

Zebrafive · Nov 9, 2010

My guess $6669.13

JDL538 · Nov 9, 2010

My guess is $ 8750.00

JC-jetro · Nov 9, 2010

sorry for you misfortune, but thanks god,, you're hear to talk about it. it is so black and white, your insurance hopefully will pick it up.

JC,

donn12 · Nov 9, 2010

My guess is $6350

flusher · Nov 9, 2010

jejeosborne said:
I have had a bad day to say the least. I was cutting firewood this morning and the tree I was cutting fell on the tractor. I know I am a bonehead. It got hung up in another tree and changed directions on its way down. Halfway through the cut I even thought about that happening and then decided that it was unsafe to move the tractor. Will the insurance cover this even though i am at fault? Here are some pics for those of you who want to feel my pain. My great neightbor helped me load it onto my trailer and get it out of the woods. I am guessing $2500 damage anyone else have an estimate? No damage to the hood or right fender. Destroyed the entire dash. Fortunately the left tire absorbed a lot of the fall otherwise I think it could have broke the tractor in half! Ruptured the fuel tank (that I just filled) and bent the loader valve handle. The good news is that I will have an hour meter that reads 0000 again.

My Mahindra 5525 is covered by my home owners policy (had to be in order to get financing--15 more payments and she's mine). Are you still making payments on your tractor?

jejeosborne · Nov 9, 2010

Ok I have an interesting update. My adjuster called me today as promised. I answered a few questions for her and I will be taking it to the dealer tomorrow for an estimate. I asked what the steps were and she mentioned it depends if they are going to total it based on the estimate. I inquired about the math behind that decision and she said the general rule is it would be totaled if repairs exceed 75% the price of a new one. My next question was if it were totaled, how do they value the machine.

Ok now for the interesting part. She told me that under homeowners policy, they would give me replacement value. I questioned what replacement value was and she said the cost to purchase a new one. When you make a claim under homeowners policy, they replace the items. I can't believe that they would buy me a new tractor but if lightning struck my flat screen tv, they would want the receipt from the new one.

I like the estimates and I guess I will make a guess as well. $4500.

A lot of financing questions as well. I paid cash for the tractor five years ago so I wasn't required to carry insurance. I will be sending them a card for Christmas and maybe a ham as well.
Jeff

schmism · Nov 9, 2010

Why turn it int to homeowners?

I consider my homeowners to be a catastrophic damage replacement. If i loose my 50,000 or 100K or 150K worth of home/property to fire/tornado etc.

My deductible is like 2K. whats yours? you guessed at 2500-4500 repair cost...

Why put a claim in for something as small as even 5K when you could end up being dropped the next year and or having your rate significantly increase. you end up paying the insurance company back in 3-5 years due to rate increases which never go away.

Theres a saying along the lines of

The hardest lessons to learn in life never come cheep.

buck12 · Nov 9, 2010

jejeosborne said:
Ok I have an interesting update. My adjuster called me today as promised. I answered a few questions for her and I will be taking it to the dealer tomorrow for an estimate. I asked what the steps were and she mentioned it depends if they are going to total it based on the estimate. I inquired about the math behind that decision and she said the general rule is it would be totaled if repairs exceed 75% the price of a new one. My next question was if it were totaled, how do they value the machine.

Ok now for the interesting part. She told me that under homeowners policy, they would give me replacement value. I questioned what replacement value was and she said the cost to purchase a new one. When you make a claim under homeowners policy, they replace the items. I can't believe that they would buy me a new tractor but if lightning struck my flat screen tv, they would want the receipt from the new one.

I like the estimates and I guess I will make a guess as well. $4500.

A lot of financing questions as well. I paid cash for the tractor five years ago so I wasn't required to carry insurance. I will be sending them a card for Christmas and maybe a ham as well.
Jeff

If they total the tractor ask about buying the tractor as salvage. It could bring a good sum parted out or you may be able to fix it yourself. I did this once with a truck and came out ahead. Just something for thought.