Tractor Insurance

[HarleyRiders97]

Does anyone know where I can obtain insurance for my new McCormick tractor? My homeowners policy (agent) originally told me it was covered under homeowners but now they are saying it is not, Any help would be appreciated. Thanks...

 

[Treemonkey1000]

See if your Home owners insurance can give you a "rider" plan to cover it.

 

[Aggieville]

I believe state farm offers tractor insurance policies.

 

[NSBound]

I had to go to Cooperators (Co-op) to get mine, and they would insure it at a higher rate until I take my house and car insurance there as well.

 

[eepete]

I called my State Farm agent yesterday to inquire about coverage on my tractors. They are covered under my homeowners policy for my use on my land. They are not covered if someone else uses them, if I take them off my land, or if I use them for commercial purposes. While the land is in agriculture use, it's hay and a farmer does all the cutting. I keep the place tidied up and keep the field edges clean but since that's not directly related to agriculture and is more a keep the value of the property up (just like mowing a lawn) it's OK. I explicitly asked about the tractors and gave their values (this is a JD 4520 with cab). BTW, we have home, auto, and an umbrella with them and don't claim things unless it's over $2500 or so.

So for this casual tractor user / weekend warrior that's all I need, and it's another good reason not to loan anything out.

Pete

 

[roadhawk]

Try a place called :
CNH Capital Insurance Agency
5729 Washington Ave
Racine, WI 53406
877-814-1635

They got us insurance from a place called
Wesco Insurance Company
55 Capital Boulevard
PO Box 758
Rocky Hill, CT 06067

We got this recently and the home state was Alabama.

State Farm told me (live in Texas) that the tractor was covered under my homeowners while it's on my property (bring them pictures, etc). I take it off the property and it's not covered. I trailer it (from AL to TX) and it's not covered even on my covered trailer behind my covered truck. I use it to make money it's not covered. I bring it to a friends house to do free help and not covered. On the road to get to another of my own properties, not covered.

It's cheap. $95 for a year for $12,000 physical damage insurance and a low deductible (too low maybe) of $200.

Notice it's not for theft though so if you leave it somewhere else you need to have it locked down well. If it gets taken from my house it's covered by State Farm just like if someone took my riding lawn mower. And also notice there is no liability insurance so don't go somewhere else off your property and start throwing rocks with your bush hog.

 

[Sockwell]

I found the same as eepete. All of my insurance is with State Farm. You can get them to cover it as long as it stays on your property. However, one of the main reasons I bought my tractor was to work at our hunting lease. My agent was able to find a work-around. He knew about this because he bought a tractor for the same reason.

I went ahead and insured it through them, but later changed it. I financed my tractor on one of the 0%, 60 month specials offered this summer. I found out that the finance company would insure it for about half what State Farm was charging, ~$120 per year vs ~$240.

 

[greggh]

Do you have a Farm Bureau in your county? They do all types of insurance. I think that farm business is their speciality.

 

[Jeepnford]

I bought a commercial policy underwritten by a company called Acuity. You can look them up on the internet to find a local agent. It covers my tractor and mowing and landscape type work. I didn't cover for excavation. It costs about $450.00 per year.

 

[nap61]

I have all my insurance with State Farm. My tractor and implements would be covered under my homeowners policy while on my property but not while in transit or on any other property. I had them insure it and the implements under an inland marine policy which covers it anywhere. It was relatively cheap.

Norm

 

[brin]

Years ago I was with State Farm and one day an agent with another major company came into my office and gave me a quote on my house, cars, umbrella..all of it and I told him it was about the same as what I was paying with State Farm...and then I found out he was quoting me on for a year vs. 6 months...His quote was about 1/2 of what I had been paying State Farm..I have been with them for over 20 years now and what few claims we have had have been paid ..pays to check around you might get a surprise like I did.

 

[roadhawk]

What's the name of the major other company?

 

[roamerr]

Farm Bureau is the lowest rates I have found. I've had State Farm, Ameriprise, Allstate, and several others.

I switched to Farm Bureau after a recommendation from a friend at work. Since then my parents, my inlaws, my sisters family, my brother in law, my grandmother, and several other friends have switched to Farm Bureau. As odd as it sounds I have yet to have anyone I have told do a comparison and find Farm Bureau to be higher.

 

[mattman]

My tractor is covered on State Farm, seperate from homeowners. I too take my tractor to the woods, if something is going to happen to it woods work will do it.

My price is 137.00 a year. I have found State Farm to be cheaper for me on all my stuff.

 

[Jstpssng]

I have mine on my commercial auto policy. It adds about 140/$ year to the price.

 

[BruceWard]

I believe that KTAC Insurance Agency will provide insurance for other brands. I pay less than $120 a year for theft / fire / accident insurance on my B21 with a fixed value of a little over $13K.

 

[joe48]

There have been many threads on this subject, all with the same result. You need to look at INLAND MARINE for the best coverage for our tractors and equipment, especially if you use it for anything off your property and sometimes even on your property.
Example I have two houses with 4 apts on the same parcel ,I live in one of the apts. and wanted to use my tractor for variuous chores here and discovered that it would not be covered under my home owners or landlord policies, because any rental property is considered commercial and does not cover the tractor and equipment. If I go plow snow for the elderly neighbor it wasn't covered etc,etc.

So I found a company that would carry me with Inland Marine , then I went to a FARM SHOW, and talked to an insurance agent that specialized in rural and ag insurance and discovered I was getting ripped off by the first company. The old policy only covered my tractor and none off my equipt. The new one was HALF the money for twice the coverage and they included all my equipment. The only thing I didn't get a rider for was excavation with the backhoe, that adds a lot ,so I'm very careful about that work.

Anyway search the threads for INLAND MARINE ,you'll find lots of them.
BTW the company I have is WAYNE COOPERATIVE INSURANCE, in Clyde NY, I believe its a farmers coop. company.
So get covered, even if you don't plan to use it off your property, get protected.

 

[joe48]

Oh yeah , I pay about $375 for $29000 coverage without a deductible, to give you an idea.

 

[greggh]

Oh yeah , I pay about $375 for $29000 coverage without a deductible, to give you an idea.

I pay $92 a year on a 27,000 tractor with Farm Bureau.

 

[LBrown59]

I believe that KTAC Insurance Agency will provide insurance for other brands. I pay less than $120 a year for theft / fire / accident insurance on my B21 with a fixed value of a little over $13K.

I notice there is no liability coverage is that correct ?