Trouble finding insurance for tractor

[Root Cause]

My homeowner's insurance agent has been exceptionally slow to respond to my inquiries so I have been looking for another company to provide a standalone quote for my new tractor.
I have connected with the major companies with no luck. I am in NC if that helps.
I am not a business owner, it is just a hobby tractor.
Any ideas are greatly appreciated.

 

[sea2summit]

I just switched from KTAC to Travelers (USAA partnered) and am very pleased, cost about 1/2 and they are quick to respond to my questions via phone or email.

 

[fried1765]

My homeowner's insurance agent has been exceptionally slow to respond to my inquiries so I have been looking for another company to provide a standalone quote for my new tractor.
I have connected with the major companies with no luck. I am in NC if that helps.
I am not a business owner, it is just a hobby tractor.
Any ideas are greatly appreciated.

An Inland Marine policy if you want a stand alone tractor policy.
Virtually all agents can sell them.

 

[Menagerie-Manor]

I purchased insurance (fire, theft, ect) just 8 weeks ago for my Yanmar thru State Farm at $79 a year and had it added to the umbrella policy also. No problem at all,

 

[Jstpssng]

What type of coverage are you looking for? An inland policy is affordable but only covers losses to the tractor. If you are out in the road at all, plowing snow or just walking it down the road to the gas station you should also have some type of liability insurance.

 

[JJZ 109]

I purchased insurance (fire, theft, ect) just 8 weeks ago for my Yanmar thru State Farm at $79 a year and had it added to the umbrella policy also. No problem at all,

That's pretty good. Not knowing any better I just purchased a year from KTAC for my BX2380 for $155. Which I didn't think was horrible. Fire, theft, & physical damage pretty much.
I just paid the tractor off 3 years early so that cancelled the KTAC policy that was in effect during the loan. I had a certain window of time to act to keep KTAC. But when I questioned whether they'd cover the LA344 loader that's on the tractor in the event of damage they said no. Even though it was dealer installed before delivery. I think because the loader was not on the loan paperwork as I paid for it up front and didn't roll it into the loan they wouldn't cover it.

 

[Menagerie-Manor]

That's pretty good. Not knowing any better I just purchased a year from KTAC for my BX2380 for $155. Which I didn't think was horrible. Fire, theft, & physical damage pretty much.
I just paid the tractor off 3 years early so that cancelled the KTAC policy that was in effect during the loan. I had a certain window of time to act to keep KTAC. But when I questioned whether they'd cover the LA344 loader that's on the tractor in the event of damage they said no. Even though it was dealer installed before delivery. I think because the loader was not on the loan paperwork as I paid for it up front and didn't roll it into the loan they wouldn't cover it.

On my setup they refused to cover the box scraper (didn't care) I purchased as a package because it did not have a serial # but the loader was considered a permanent part.

 

[JJZ 109]

On my setup they refused to cover the box scraper (didn't care) I purchased as a package because it did not have a serial # but the loader was considered a permanent part.

Just out of curiosity I sent them an inquiry via the website to ask why they won't cover a dealer installed, serial numbered Kubota accessory. We'll see what they have to say.

 

[qstott]

My Farm Bureu agent wrote me an inland marine policy on my 4720 for about $200 a year in NC.

 

[orezok]

We have USAA Homeowners and they cover my B7800 for up to $10,000 with no additional cost. That’s probably about the value of a 17 year old bare 7800. That amount does not include the attachments (Loader, BB, etc) but those items are covered under the general property loss and theft for full replacement value.

 

[fried1765]

We have USAA Homeowners and they cover my B7800 for up to $10,000 with no additional cost. That’s probably about the value of a 17 year old bare 7800. That amount does not include the attachments (Loader, BB, etc) but those items are covered under the general property loss and theft for full replacement value.

I boosted my USAA replacement cost total value coverage to hopefully cover all my equipment against loss.
USAA assured me that this includes any loss of any item, or items, for any reason while on my property.
I hope so!
Having had USAA for 59 years, there have been some hiccups in improperly written coverage that gave me concern, but luckily I caught each of them.
You never really know what you are covered for, until you have a claim!

 

[Mrsig]

My USAA Homeowners cover my tractor for up to $25,000 with no additional cost. And that amount does not include the attachments (Grapple, Bucket & Backhoe) but those items are covered under the general property loss and theft for full replacement value just like orezok.

 

[fried1765]

My USAA Homeowners cover my tractor for up to $25,000 with no additional cost. And that amount does not include the attachments (Grapple, Bucket & Backhoe) but those items are covered under the general property loss and theft for full replacement value just like orezok.

USAA has stated that my Kubota L48 TLB is covered for "replacement value".
Since the L48 is no longer made, I would expect "replacement value" to be the L47 at close to $50K.

 

[JJZ 109]

KTAC actually replied to me pretty promptly. They say my loader was never covered because it wasn't in the finance contract. I paid cash for it up front to be installed instead of financing it with the tractor.
They can cancel my current policy and write a new one with the loader covered if I have an invoice with price and serial number. I've sent them a copy to see what the final premium will be.

 

[Monster5601]

Getting insurance coverage is difficult for tractors and other land management equipment depending on the state you live in. I'm in Michigan and the best I can get is $15K coverage period. No other policies I can find available since losing KTAC after the loans were paid in full. If anyone has an insurance coverage solution for Michiganders I love to hear it.

 

[JJZ 109]

Getting insurance coverage is difficult for tractors and other land management equipment depending on the state you live in. I'm in Michigan and the best I can get is $15K coverage period. No other policies I can find available since losing KTAC after the loans were paid in full. If anyone has an insurance coverage solution for Michiganders I love to hear it.

KTAC both emailed and called as soon as I paid my loan off early to see if I wanted to continue coverage. Did they not contact you or was there a reason you elected not to go with them again? Just curious.
For $155 in my particular situation I decided to try a year with them and decide next year if I want to continue or not.

 

[fried1765]

Getting insurance coverage is difficult for tractors and other land management equipment depending on the state you live in. I'm in Michigan and the best I can get is $15K coverage period. No other policies I can find available since losing KTAC after the loans were paid in full. If anyone has an insurance coverage solution for Michiganders I love to hear it.

If you are elligible for USAA, they should offer coverage.

 

[Doughknob]

What?! Insurance on a tractor is a thing??

If any of you gamble or buy lottery tickets, ask me how you can save a BUNCH of money.

 

[fried1765]

What?! Insurance on a tractor is a thing??

If any of you gamble or buy lottery tickets, ask me how you can save a BUNCH of money.

If you are proposing not carrying insurance, ....ask me.
In 1987 I had a fire loss of $240,000.
I figure that I could pay homeowner insurance premiums for well over 100 years, and still be ahead of the game.

 

[Jstpssng]

I could buy a LOT of lottery tickets for the value of my tractor and implements. To say nothing about the cost if I'm driving from the house to the field and one of the boneheads who occasionally use th eroad for a race track hits me. Without insurance I would automatically be considered at fault.