Anyone insured?

[ning]

I saw another thread about ktac in the Kubota forum, and I was curious if any tractor owners have insurance on their tractor (ie non-ktac)?

If so would you mind telling:
- why do you have it
- what does it cover
- about how much does it cost
- for what tractor

Reason I ask is probably obvious from this post - I don't have insurance (other than some nebulous "your homeowner insurance probably covers your tractor" but covers it for what?) and I'm curious if I should get some.

 

[CloverKnollFarms]

I’m curious too... I don’t insure my ZTR or ATVs

 

[Doughknob]

Search. Other posts discuss this......

 

[jk96]

Mine is through American Family insurance. $500 deductible. Coveres damage, theft, damage done by me off property, etc. 2019 Kubota L6060. Worth more than any car I own and I keep insurance on those so same reason. Accidents happen.

 

[WM75Guy]

All my tractors, trailers, UTV, and implements are covered under my Texas Farm Bureau AgVantage policy. It covers loss or damage. Mechanical issues are not covered.

 

[CloverKnollFarms]

If so would you mind telling:
- why do you have it
- what does it cover
- about how much does it cost
- for what tractor

Reason I ask is probably obvious from this post - I don't have insurance (other than some nebulous "your homeowner insurance probably covers your tractor" but covers it for what?) and I'm curious if I should get some

Sounds like it’s of little value if you are working on your own property and stored in your own barn.

 

[4570Man]

I’m GC and I currently have insurance on my equipment. It cost me about $15 per thousand of value annually. I was considering dropping it. With only 1 machine it’s likely to work out in your favor with but I currently have 3 machines, and several trailers. Taking the gamble that I only lost one machine to fire or theft the break even time is considerably shorter. If the equipment was always stored on my property which in my case it’s not I probably wouldn’t pay it.

 

[LouNY]

Mine is through my home owners farm policy, comprehensive and liability on my tractors and equipment.
My side by side is insured on the same policy as my motorcycle, but just liability.

 

[swreeder]

I have a rider on my homeowners for comprehensive and liability, its hardly any additional cost per year for the tractor. For my UTV I have a separate policy for comprehensive, theft and liability.

My neighbors barn burned down a few years ago. He lost two tractors and an ATV along with everything in his barn. After that incident I spent a good amount of time making sure I was covered both from loss and liability for all my equipment.

To me its a small price to pay vs the losses that can occur when something goes wrong.

 

[Torvy]

For now we have an umbrella policy in addition to our homeowners. We'll get a specific rider on that when we purchase.