Anyone insured?

[Jstpssng]

I have it on my commercial auto policy, it costs me about 349$/year with 1/2 million libility. Tractor only though, implements aren't covered for loss.
I keep liability on everything which moves, as I'm often running up and down the gravel road in front of my house.
Right now with our dearth of snow, it's about the only place that I can run my snowsled.

 

[sandman2234]

For the record, my credit union did not require insurance on the tractor when I borrowed the money for the Kubota, trailer, and implements. Pretty much a signature loan at 2% interest on a 7 year payback. When we were signing the loan, I added insurance in case of disability or death so my bride wouldn't have to worry about the payments if something happened to me. Got tired of the payments and paid it off early when we paid off the house so we would be out of debt.
David from jax

 

[Hay Dude]

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.

Sounds like mine. Nationwide Agribusiness

 

[Cougsfan]

I guess it might be prudent to ask what kind of insurance you want for your tractor. Most homeowner insurance covers catastrophic damage such as it being stored in a building when it burns down, or a meteor happens to fall on it, it also covers theft. But probably wouldn't cover liability if you were to do something dumb like ram full speed into your brother-in-laws car with the FEL. You'd probably be better off talking to your insurance agent about your concerns and needs rather than asking a bunch of us highly opinionated, poorly informed, non-professionals on a forum

 

[ning]

I guess it might be prudent to ask what kind of insurance you want for your tractor. Most homeowner insurance covers catastrophic damage such as it being stored in a building when it burns down, or a meteor happens to fall on it, it also covers theft. But probably wouldn't cover liability if you were to do something dumb like ram full speed into your brother-in-laws car with the FEL. You'd probably be better off talking to your insurance agent about your concerns and needs rather than asking a bunch of us highly opinionated, poorly informed, non-professionals on a forum

Actually most of the responses (ie the ones that actually answer one or more of the posed questions) have been perfect for what I posted for - I hadn't considered the potential need for it, so I wanted to see what and why of tractor insurance so I could get a better notion if I'm adequately covered.

 

[Jims1025R]

One thing to bear in mind is that if you insure the tractor, or other similar equipment for loss, unlike a car or an ATV (learned those the hard way!) you have agreed the value of the tractor, and that's what you'll be paid out if it's lost. If it's "included" unlisted in another policy, you may get a depreciated value instead. I was very happy to get the agree insured value for my tractor last summer, as I had had it insured for that value since buying it in 1995. It's "value" when it burned would have been less than what I had it insured for. So I got enough to nearly replace it with new. My smaller JD tractor, lost in the same fire was covered under my home policy, and I was happy to get that - the value was fair. That saved me from having to deduct it from the other contents insurance for my building.

Understand the policy, and understand your risk of loss. I walked away from an uninsured $40,000 airplane, and $10,000 Polaris, as I never considered burning to death as a way of loosing them - I figured if I buggered one of them, it would be just one, and I could still sell the wreckage. But, I was bright enough to insure the building and contents (and the tractor and excavator separately listed). Their insurance was so cheap (I think in the range of $50 for both), that I could not resist, and very wise in hind sight!

The math on the plane and Polaris was different, they're somewhat expensive to insure for loss, so I had the savings of not paying those premiums for decades, though the premium savings still did not amount to the value of the loss. I've insured all of my remaining and new equipment now....

 

[LouNY]

I would not be surprised if every state is different but here;
With my Farm Policy it covers my home owners and then my tractors and some equipment are specifically listed,
also covered are equivalent value rentals. My tractors and myself are covered any where any time,
it doesn't matter if I'm on my property, the road, some one else's property working for myself or for hire.
My Home owners liability covers it all and the listed equipment has a comprehensive type coverage anywhere it is regardless
of who is operating it or why. If I where to rent large equipment I have to get a rider to cover it per the rental dealership.

 

[PILOON]

I used my CUT occasionally on some job sites plus did some snow contracts.
Never had insurance for it per say other than my personal liability insurance.
Over some 15/20 years and never a problem.
Lucky? or simply cautious.
Come to theft, well my home owners covers that, (I did check specifically)

 

[bobmisi]

I recently had a dead tree fall on my tractor (and me) when I was doing firewood in the woods. Called my agent and they had someone out the next day to look at the tractor and the location of the incident to verify it happened on my property. The adjuster admitted he new very little about tractors and was seriously considering totaling it. I gave him a list of parts it needed to make it right and the number of hours needed to make the repairs. He marked up all the parts 25% as I told him my mechanic friend was doing the work. He said he was allowed to make money on the parts. He gave us 95 dollars per hour for the labor' Total came to about twelve thousand. I know if I pushed a little he would have totaled it and I would have gotten a new tractor as I have replacement cost coverage under my homeowners policy, but I'm happy to have my tractor good as new and my body all healed. Tractors here are covered under homeowners and you are covered for comprehensive coverage and theft on your property or the road in front of your property, based on your road frontage. I specifically asked all this when I insured with this company especially if I was covered on the road while plowing if someone ran into me. This company was excellent and exceeded my expectations. Great agent and the insurance company was exceptional. You don't hear much good today about insurance Companies but they did all they could to make me happy. Also want to add that Ken's Auto Sales in Holyoke Ma was excellent in getting me every part I needed in about a week. If you need Branson Parts Mike Cashman is the guy to call. 413-532-7476.

 

[4570Man]

I recently had a dead tree fall on my tractor (and me) when I was doing firewood in the woods. Called my agent and they had someone out the next day to look at the tractor and the location of the incident to verify it happened on my property. The adjuster admitted he new very little about tractors and was seriously considering totaling it. I gave him a list of parts it needed to make it right and the number of hours needed to make the repairs. He marked up all the parts 25% as I told him my mechanic friend was doing the work. He said he was allowed to make money on the parts. He gave us 95 dollars per hour for the labor' Total came to about twelve thousand. I know if I pushed a little he would have totaled it and I would have gotten a new tractor as I have replacement cost coverage under my homeowners policy, but I'm happy to have my tractor good as new and my body all healed. Tractors here are covered under homeowners and you are covered for comprehensive coverage and theft on your property or the road in front of your property, based on your road frontage. I specifically asked all this when I insured with this company especially if I was covered on the road while plowing if someone ran into me. This company was excellent and exceeded my expectations. Great agent and the insurance company was exceptional. You don't hear much good today about insurance Companies but they did all they could to make me happy. Also want to add that Ken's Auto Sales in Holyoke Ma was excellent in getting me every part I needed in about a week. If you need Branson Parts Mike Cashman is the guy to call. 413-532-7476.

If you’re going to continue using your tractor in the woods strongly consider adding a 4 point FOPS. The price of a canopy vs being dead is a pretty easy choice.