Why tractor insurance???

[chadincolo]

I have a question in regards to the thread down below. Why do you have tractor insurance? I've never heard of it (grew up on a 5th generation farm). We have liability insurance for the farm, covers any liability from accidents (tractors or otherwise). What exactly are you insuring against? What is covered?

 

[john_bud]

I have a question in regards to the thread down below. Why do you have tractor insurance? I've never heard of it (grew up on a 5th generation farm). We have liability insurance for the farm, covers any liability from accidents (tractors or otherwise). What exactly are you insuring against? What is covered?

Typically it's for protection against theft of the equipment or for protection against loss if it is on a trailer being transported.

Many folks don't live where the equipment sleeps, so they are more at risk from the criminal element.

jb

 

[jimmy1]

When you insure the tractor itself you will be covering accidental physical damage to the tractor. The coverages may vary but normaly things like fire,theft,collision,upset,falling object and so on.

Jim

 

[Thomas]

I added the tractor on my home policy which ownly cover loss...no other can operate nor do work on others land...you gotta be careful now a days,for some will sue on drop of a hat.

 

[N80]

My homeowner's policy is similar. Covers theft, vandalism, weather (but not flood) damage. I think it even covers accidents.

The two glaring omissions are damage if the tractor is on someone else's property, and damage from an accident while towing. Auto insurance will only cover a token amount for anything being towed. I think my homeowner's policy has liability coverage to some extent but not if the tractor is used commercially.

Currently I rarely use mine on someone elses property and it is stored on my place. It has only been on a trailer once since I got it. But that's the thing that worries me. I'm going to have to find other insurance if it looks like Iwould need to tow it.

My B-I-L has used it a couple of times on his farm too. But not often.

An Inland Marine policy will cover these sorts of things and don't cost much but I have been totally unable to find one. My homeowner/auto insurance company (USAA, which is otherwise great) does not do this type of policy. Farm Bureau won't insure the tractor if I don't have my house with them. And so far I cannot find anyone to extend _just_ an Inland Marine policy.

Very frustrating.

 

[inveresk]

I have a policy for third party claims and accidents if I go onto the highway. My farm borders on a road and I sometimes use it to get from one part of my property to the other. If, Lord forbid, I hit someone, I'm covered.

 

[canEHdian]

chadincolo, what you'll want to do is look at what your current liability insurance covers. Does it cover everything you'll need, including theft and damage when used off your property? If so, then you probably wouldn't need further insurance on it. However, if it doesn't, and you feel this is a risk, you may want to consider the extra tractor insurance.

 

[chzhead]

An Inland Marine policy will cover these sorts of things and don't cost much but I have been totally unable to find one. My homeowner/auto insurance company (USAA, which is otherwise great) does not do this type of policy. Farm Bureau won't insure the tractor if I don't have my house with them. And so far I cannot find anyone to extend _just_ an Inland Marine policy.

Very frustrating.[/QUOTE]


I live in Missouri and was able to get an inland marine policy for my tractor through State Farm Insurance.

 

[slowrev]

If you finance the purchase of your tractor the company lending you the mone will likely require you have insurance on the tractor. Just like an auto purchase.

Ben

 

[mjarrels]

I was thinking of giving away manure from cleaning out the barnyard "load your pickup for free"... then I got to thinking... what if I damage their truck? I don't have tractor insurance... no free manure this spring.

mark