Insurance What type of insurance is available for PTs?

[Clumber]

I was surprised by several threads mentioning insurance. Is insurance really available for Power Tracs?

 

[SpringHollow]

i get mine through my farm policy - i added a special rider which covers my machine even off site or in transit. Liability and even covers damage to the tractor if i roll it (about the only thing that makes me wish i did not have a pt1850 since i will never get a chance to take advantage of that coverage). It really was very inexpensive.

Ken

 

[Clumber]

Thanks Ken. My cuurent policy is a regular Homeowners policy with State Farm (even though I have 42 acres, its not really a farm...). I will check with SF next week to see if they can cover a PT 425.

 

[woodlandfarms]

Generally a tractor is covered under a homeowners policy unless one of three things.

The property is income generating (like big ticket, not like you sold a few chickens), then it would be under your corporate policy.

You drive the tractor off the property, only insured on your legal property (a few horror stories of people plowing a neighbors driveway and bad things happening and not being insured)

It is a big ticket tractor (50K and beyond).

Double check with State Farm but you should be covered.

 

[SpringHollow]

Do you have trees on your property? Then you are a tree farm. Farm and Family (insurance company) house/farm insurance was cheaper than my previous house insurance.

Ken

 

[Clumber]

Thanks Ken and woodlandfarms, good info. I am currently thinking of getting a PT 1130 and a used Ventrac. The two tractors and my Sears Garden Tractor should total under $50K not counting attachments... The idea of qualifying as a tree farm is interesting. I will check that out. However, my current morgage co. requires a residential HO policy, I think.

I have about 100+ 45 year old ceder trees on the property that need thining. Anybody want to buy some cedar trees????

Patrick

 

[SpringHollow]

Mine is a combined policy - actually covers house, auto, farm, and umbrella. I really am very happy with the company. I increased all of my coverages, added the farm, and the rates were still lower.

Ken

 

[Red Zebra]

+1 what Woodland said

I'm sure everybody has a home-owner or a farm-ranch policy. Call your agent to verify comprehensive coverage (fire, theft, falling object, etc.) and also liability. My home-owner policy covers equipment used to maintain the property, i.e. riding mower and PT. AS LONG AS THE EQUIPMENT IS USED ON MY PROPERTY. You may need a rider or indvidual policy if the equipment is routinely taken off property and used elsewhere.

 

[Gravy]

You may need a rider or indvidual policy if the equipment is routinely taken off property and used elsewhere.

You may also need a rider for anything over a percentage of the total policy coverage. I have a lot of tools and equipment. IIRC, my basic policy only covered that stuff up to like 10% of my real estate property value. I've got way more toys than that. I was able to buy a rider that covered most of the gap for a pretty nominal cost.

 

[Phils]

Something else that should be mentioned in this thread:

IF your tractor is covered under your personal property (and it SHOULD be), it'd only be covered for those perils that the home and the rest of the contents are covered for (fire, theft, falling objects, etc).

That is.... it is NOT covered for CRASH.

Phil