Insurance Personal use tractor insurance

[Cliff_Johns]

I have tractor insurance with State Farm. I had to get some so I could get financing, but I wanted insurance anyway. It turns out that, new this year, State Farm tractor insurance does not cover liability off property even if you have the "off property" coverage. They changed it -- it used to. Your personal liability poilicy doesn't cover this either -- that only increases other coverage, it does not give you any new coverage you don't already have. If you have been relying on this and didn't read the fine print they send out each year, take a close look.

So now, since I want to drive on the road, maybe go to a neighbors house and do some work, I'm looking for an insurance company that actually insures the tractor for liability. Anyone have preferences?

Cliff

 

[MadReferee]

Ask your agent about a Commercial Inland Marine policy. It will cover your tractor for what you want. Plenty of insurance carriers will write this type of policy. Your premium will be based on the declared value of your tractor and implements. There have been many threads on this type of insurance. Do a Search for "Commercial Inland Marine".

Now actual liability insurance will be another mater altogether and could get rather expensive. This has been discussed also.

 

[dbelisle]

I have mine registered and insured to drive on the road .

I have full liability, fire , and theft.
It cost around $325.00 for the year.
It is for the minimum required by New Hampshire but I also have a $1,000,000.00 umbrella policy.

The local ATV club is getting ready to buy a DK40 with a hoe and I want to register that for the road also.

The agent is looking at that in a commercial policy because it is a club and the cost is going to be around $850.00 for full coverage.

What is the kicker is that in NH, if you put a backhoe on the unit, the registration goes from $10 to $12 to $75. Because they consider it construction equipment instead of farm.

Dave in NH

 

[jpr62902]

I have Inland Marine coverage (not commercial) for my tractor, and all it covers is damage to the tractor -- not liability for damage caused by the tractor. My annual cost is about $200.00.

 

[SnowRidge]

I don't know how much land you have or if you grow anything, but you might look into your eligibility for a farm policy. Check with the farm bureau in your state. They should have that sort of information. You may not actually have to be a farmer.

Here, our farm policy automatically provides liability coverage, which includes tractors. Equipment loss is extra, and is priced per thousand dollars of specified coverage.

SnowRidge

 

[shadled]

I had to also obtain insurance on my TC33DA. I spoke with my insurance agent and I was able to add it to my home owners policy for 79.oo per year and I have full coverage on the tractor and any property damage that may result as an accident from my tractor. This is for Pennsylvania and the ins co. is Motorist Mutual.

Dennis

 

[Cliff_Johns]

Wow, Dennis that's really cheap. State Farm wants 3 times that and there is no liability off property, only damage coverage. I definatly need to look around.

Cliff

 

[8561]

I'll say the same thing in this post that I've said in many previous insurance threads - MAKE SURE YOU GET LIABILITY INSURANCE. In the long run, fixing some damage to your tractor is cheap. Fixing someone else who has been injured as a result of your tractor can be financially devastating.

 

[KiotiMutt]

I just got my policy from Farm Bureau. It covers everything, including rollovers. It was $109/year for a $27,000 tractor.
You must also be a member which cost $40/year, and you don't need to be a farmer.
They also wanted me to check their rates for auto and homeowner insurance.

KiotiMutt

 

[hammer1995]

Don't hesitate to compare their rates. I've been with them over 20 years and have yet to find a company with better rates.