Why tractor insurance???

[daTeacha]

I'm pretty sure there are state laws regarding insurance companies and what they can and can't do. I know here in Ohio Nationwide is strongly tied to Farm Bureau. We are insured with State Farm even though we are Farm Bureau members simply because it's cheaper and better coverage. My tractor is included in the homeowners insurance with no riders or extra charges needed, just like any other personal property -- tools, mowers, furniture, etc.

 

[gordon21]

Here is a prime example of why you should pay the $50-60 per year for tractor insurance. This one year old tractor was idling on a hill and the parking brake released on it's own while a couple college kids were loading the bucket with firewood. The tractor started rolling downhill and hit a big rock. The left rear axle housing broke. The repair, including pickup from 45 miles away was well over $1300. All I had to pay was the dedcuctible. I figure I am ahead of the insurance company by well over a grand and they still owe me several years coverage because I paid for a multi year policy up front with the tractor purchase that cost only a few hundred dollars.

 

[gotcha]

It seems like we all are having the same problem with insurance issues and getting proper coverage at reasonable rates.

Can I ask this, "Is there really and truely such a thing any more?"

 

[WALT]

I just renewed my insurance. I have a inland marine policy w/ Peerless Ins. Co. that covers my two tractors and implements. I had to explain to the insurance agent that all my equipment would not be off my property at the same time, as I can only use one tractor or the other at a time.
I paid $840.00 for Approx. $70,000.00 of coverage w/ a $500.00 deductable.
If you trailer your equipment and/or use it off your property, generally your homeowners insurance does not cover that risk.
I use both tractors in a part time business LLC. This coverage is in addition to my business liability coverage.

WALT

 

[SpringHollow]

Hi Joe48,

I live South of Rochester. I switched from Allstate to Farm Family because Allstate would not cover my tractor in transport. I was very happy with Farm Family and their coverage. The inland marine coverage was $128 for $40,000 of coverage which I thought was quite reasonable.

Ken

 

[gemini5362]

Here is a prime example of why you should pay the $50-60 per year for tractor insurance. This one year old tractor was idling on a hill and the parking brake released on it's own while a couple college kids were loading the bucket with firewood. The tractor started rolling downhill and hit a big rock. The left rear axle housing broke. The repair, including pickup from 45 miles away was well over $1300. All I had to pay was the dedcuctible. I figure I am ahead of the insurance company by well over a grand and they still owe me several years coverage because I paid for a multi year policy up front with the tractor purchase that cost only a few hundred dollars.

While I agree with you totally about getting insurance I would love to know where you get it for 50 to 60 a year. My insurance for my tractor is 450.00 a year.

 

[gordon21]

Full coverage from John Deere is very affordable. Mine included collision coverage so that is why they paid for the cracked rear axle housing. I don't have the exact info handy, but I think it was $260 or so for a 5 year policy for $14,500 worth of coverage.

 

[gemini5362]

Full coverage from John Deere is very affordable. Mine included collision coverage so that is why they paid for the cracked rear axle housing. I don't have the exact info handy, but I think it was $260 or so for a 5 year policy for $14,500 worth of coverage.

I dont have a john deere so that probably is not going to be an option but thank you for the reply. After looing at some of the prices people are quoting here I am going to go shopping I beieve for some prices before I renew.

 

[LBrown59]

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

You can't be the good guy anymore cause some sue happy jerk will turn you into a bad guy !

 

[DK35vince]

After looing at some of the prices people are quoting here I am going to go shopping I beieve for some prices before I renew.

I have an Inland Marine policy ( Erie Insurance) that covers 2 tractors and all my attachments.
$33,870 coverage. $100 deductable is $135 per year.