insuring my tractor

[ozley]

Mine is covered under my homeowners policy - State Farm. Its only covered while the tractor is on my property.

With State Farm it is covered but it's covered for the amount that your house is. If your house and tractor where both taken out at the same time you would have to have your coverage for the amount of both.

 

[Parkanzky]

Lots of blanket statements about coverage here. Call your agents!

I called mine when I was buying the tractor and asked about what sort of policy I'd need to get coverage in various situations. She answered most of the questions right there and had to call me back for some of it, but by the end I was able to understand what my options where, what each of them would cost, and what would be covered depending on what I chose.

Basically, you need to decide if you just want coverage for theft/fire. If you want it covered for other sorts of damage (roll it over or drop a tree on it?) while it's on your property, whether it's covered on/in your trailer, and whether you need coverage to run it over to a neighbor or friend's house. There's also liability to consider.

That's all assuming you are using it for "personal use." If you're going to take a check from somebody that pays you more than your expenses to run the tractor, then you need a whole different tier of insurance.

 

[jel1988]

I'm insured through Agri Credit, they add it to the tractor payment, roughly $15 a month. Includes liability and loss (not restricted to my property).

 

[HEC]

I contacted CNH insurance and it was $ 198 for $25,000 coverage, $ 500 deductible , for 1 yr. for my B2650hsdc , does not include any maintenance, just physical damage from fire, theft, storms etc. etc. .

They would not cover it under my home owners , needed separate policy . I should switch over to state farm.

 

[George2615]

If you don't leave your property your homeowners ins. will cover it. I do transport my tractor to other properties so I also went with CNH. Full coverage anywhere I go and reasonable. Also covers implements.

 

[DK35vince]

If you don't leave your property your homeowners ins. will cover it.

No all do.
My home owners does not..

 

[George2615]

No all do.
My home owners does not..

I checked with my homeowners first and they would cover my tractor for theft, damage, etc. but once I left the property, NO coverage. That means if I go down the road to plow my neighbors driveway I'm not covered. My CNH policy (thru Inland Marine) does cover my tractor anywhere I go. Just figured other homeowner policies would be similar maybe by adding a rider. If I chose not to leave my property I could have added the tractor to personal property (sometimes called contents) according to my agent. They did say if I backed out in the road to plow my driveway and was hit by a car they would not cover. So CNH was my best choice.

 

[DK35vince]

I checked with my homeowners first and they would cover my tractor for theft, damage, etc. but once I left the property, NO coverage. That means if I go down the road to plow my neighbors driveway I'm not covered. My CNH policy (thru Inland Marine) does cover my tractor anywhere I go. Just figured other homeowner policies would be similar maybe by adding a rider. If I chose not to leave my property I could have added the tractor to personal property (sometimes called contents) according to my agent. They did say if I backed out in the road to plow my driveway and was hit by a car they would not cover. So CNH was my best choice.

My homeowners will cover 1 lawn mower for up to $5,000. That's it.
So I went with an Inland Marine policy that covers the tractor and attachments on or off my property ( can not be used to make $$)

 

[MinnesotaEric]

I have an inland marine policy covering $65K of equipment on a five year option contract from CNH insurance.

I want to say that I'm paying just over $1800 on the five years.

 

[Buggs67]

I had some large tree branches fall on my Jeep and tractor in a recent storm. The Jeep was damaged, the tractor was not. My homeowners insurance agent (State Farm) said my Jeep wasn't covered (car insurance comprehensive would cover that) but damage to the tractor would have been.

 

[blueriver]

I have an inland marine policy covering $65K of equipment on a five year option contract from CNH insurance. I want to say that I'm paying just over $1800 on the five years.

About right .. They treat u right?

 

[Threepoint]

I had some large tree branches fall on my Jeep and tractor in a recent storm. The Jeep was damaged, the tractor was not. My homeowners insurance agent (State Farm) said my Jeep wasn't covered (car insurance comprehensive would cover that) but damage to the tractor would have been.

That sounds right, for that type of casualty. But if you were to damage your tractor on your property by running into the tree, I suspect your homeowners policy would not cover it. Same if you rolled over on a slope while operating. That is a distinction my agent made after double checking with Allstate, FWIW. Would be interesting to know if State Farm is different.

 

[CubicleFarmer]

Mine is covered on and off of my property, as long as it is not being used for business purposes. I have a rider on my policy for $30k for the tractor, and my auto, homeowner, liability insurance is all through the Michigan Farm Bureau. Only cost an extra $75 a year, with $500 deductible, but it has to be stored indoors if I want them to cover it for theft and acts of God.

 

[ksbrdmkr]

My equipment insurance is about an added $5.60 per thousand to the my bundled agmax policy, but is supposed to cover on/off farm, in/out of state and custom operations.

 

[kiotiken]

Mine is through my homeowners policy. It is covered both on and off my property as long as I'm not using it commercially. I had to fight for that. My argument was, with my rear pull type blower, the tractor was off my property before I finished my driveway. In the end we worked it out that I could travel off my property to help neighbours or pick something up as long as I wasn't paid. I do a fair amount of road travel (my longest trips were a pair of 50 KM round trips with a trailer) and have helped several neighbours and I'm more concerned with liability than with theft/fire/damage.

 

[tooln]

I'm insured through Agri Credit, they add it to the tractor payment, roughly $15 a month. Includes liability and loss (not restricted to my property).

What happens when it's paid off? Mine is insured this way also. My since I keep the tractor on my property and don't have a house there my home owners won't cover it.

 

[MinnesotaEric]

About right .. They treat u right?

I haven't had a claim, and so there isn't much follow up. The marines policy does allow me to break out commercial liability to a separate policy. Getting both covered was next to impossible here in Minnesota and my USAA homeowner's policies only covered the first $3000 of the tractor, not nearly enough. With a inland marine policy i can leave the reservation and rock my way into town to gas up!