Tractor Insurance: am I being ripped off

[LDWallace]

I have tractor insurance on a 2022 48 HP tractor with 350 hours through EII Equipment Insurance International. I did not know anything about the company.. my dealer made all of the arrangements with the financing and the insurance.

Recently I destroyed the engine.. It was stupid operator error.. but that is why I paid for insurance.

My dealer said he would only replace the engine at $20k + since he did not have the facilities for a rebuild.

The insurance company deemed the tractor a total loss and took bids for salvage.

So here is the deal:

1. They said the FEL was insured separately and since it was not damaged they would cover only the tractor and not include the FEL.

2 despite much higher “comparables” and the fact you can’t buy a 48HP tractor without the loader they say they will only reimburse me $16k minus deductible.

They say they have no obligation to make me “whole”. They are only obligated to cover what they have decided is the value of the tractor. (Which I contend is much higher than $16k!)

3. My dealer suggested I remove the loader mounts and other parts and he might be able to order a tractor without a loader. (A much larger dealer in a larger town said they have no interest in ordering a tractor without a loader)

4. The insurance company has told me the tractor is out for bid and I can not remove anything from the tractor. I contend if they are not willing to work with me I should take the FEL mounts. I called the salvage company and they said they would rebid the tractor if I remove anything. I am sure the insurance company is going to tell me I have to “eat” any changes in the bid.. but . I have not yet “forced” that issue?

Do any of you have any thought or suggestion of what I should do? They sent me a “release” today for me to sign. Should I just remove the FEL mounts? The salvage company offered me $500 for the loader!

I am venting here. I know there probably is not much I can do. I feel like they have pretty much told me … “It is our way or the highway” and I am pissed!!

 

[MtnViewRanch]

I am assuming that you are not able to change out the engine? Check on a mobile tractor mechanic to see if he would be interested in pulling the engine, rebuilding it, and reinstalling.

Without knowing what all happened to the engine (rod out the side?) it's hard to even guess, but I recommend at least checking before the machine is gone and you are out of luck.
Most engines can be rebuilt and the $20K price tag is really only 5K because you fix what the problem is, not just replace the whole thing.

Good luck with this whole issue.

 

[fishheadbob]

There are people who make a living as independent insurance adjusters who work for you, not the insurance company. Google around. Most independent adjusters don't know ag equipment, so when one tells you that, ask who he knows of that does.

 

[LDWallace]

I am assuming that you are not able to change out the engine? Check on a mobile tractor mechanic to see if he would be interested in pulling the engine, rebuilding it, and reinstalling.

Without knowing what all happened to the engine (rod out the side?) it's hard to even guess, but I recommend at least checking before the machine is gone and you are out of luck.
Most engines can be rebuilt and the $20K price tag is really only 5K because you fix what the problem is, not just replace the whole thing.

Good luck with this whole issue.

MVR

I sucked water in through the air filter. The dealer where I took the tractor (the dealer that sold me the tractor would not return my phone calls) is pretty much a one man shop. He was not confident he had the skills, the tools or the time needed for an engine tear down. I called other tractor dealers but they said they didn’t want to work on an “outside” brand plus if they did I would not have my factory warranty.

The tractor would probably be a great project for a shop with “skills” since there is probably minimal damage to the engine.

I messed up by not insisting the shop do a full diagnosis. The shop just verified the engine was frozen.

 

[5030]

That sucks, big time. Just had a tree fall on my Focus RS turbo in the back yard. Insurance co wanted to total it. I said no. Still driveable, looked bad with a caved in roof but I took it to the bump shop and the owner gave me an estimate, worked with the insurance company and I got it repaired. The total repair was 100 bucks under the total value (the bump shop owner fudged it a bit, so the buggy is fixed and nothing put of pocket either. He worked in my deductible as well.

Wasn't about to total a Focus RS Turbo. Not made anymore, gets 40 mpg if I drive it like the old man I am and no way did I want a new car or a car payment. Have not had a car payment for years.

I'll be careful where I park it from now on...lol

 

[LDWallace]

There are people who make a living as independent insurance adjusters who work for you, not the insurance company. Google around. Most independent adjusters don't know ag equipment, so when one tells you that, ask who he knows of that does.

FHB

I will look into that…. The adjuster did do what I consider “fair comparables”. The insurance company just ignored them and set their own valuation.

 

[5030]

Have to ask, how did you suck in water through the air filter??????????

 

[MtnViewRanch]

There is a chance that all that needs to be done is the injectors pulled and the engine turned over a few times to get the Water out. I know this because I had 6.9 hydraulock after the engine had been shut down and then filled with anti-freeze from a blown intake gasket.

If the motor was actually running, then maybe a bent rod or? Look for a mobile mechanic.
You should be able to get this fixed without loosing your shirt.

One of the issues is that most everyone's mind set is to replace, not many want to repair anything anymore.

 

[LDWallace]

Have to ask, how did you suck in water through the air filter??????????

Stupid operator error.

The air intake is around 15” high. I thought I would take a short cut and drive through the edge of my pond.. I thought the water was only about 6” deep. (In retrospect that was too deep to drive through.) but. I hit the water nose down and soft mud. I was through it before the tractor stopped but the damage was done.

I will not do that again. I will find a new “stupid” mistake.

 

[RjCorazza]

Your number 4 concern about the loader would infuriate me. The loader was not factored into the valuation (what they pay you) due to not being damaged and insured separately. Now they want bids (their compensation) based on a loader tractor?? That loader is your property, and I would remove it even if it just sits in a field for the next 20 years.