Tractor Insurance, do you have it?

[George2615]

I've got inland marine on all my heavy equipment from the farm bureau for about $600 a year. Covers theft or damage here, on the road or on another property.

X2 My tractor is going on 5 years old. Covers for physical damage on or off property and glass coverage.

 

[4570Man]

I keep a separate policy on mine. If it never left the house I probably wouldn’t.

 

[kenmac]

I have no insurance. I choose to self insure. If nothing happens, I keep the money. If it does, I spend the money
Insurance companies know, in the long run, they win the game

 

[4570Man]

I have no insurance. I choose to self insure. If nothing happens, I keep the money. If it does, I spend the money
Insurance companies know, in the long run, they win the game

It would take more than 60 years of what I pay in insurance to replace the machine. If I loose the gamble I can’t afford to replace the machine. While I don’t disagree I’m likely giving away money not insuring is a good way to end up in financial ruins.

 

[kenmac]

It would take more than 60 years of what I pay in insurance to replace the machine. If I loose the gamble I can’t afford to replace the machine. While I don’t disagree I’m likely giving away money not insuring is a good way to end up in financial ruins.

I'll take the gamble. If mine burn up tonight. I could replace it tomorrow.
Makes me cringe to think of having insurance on my tv, appliances, extended auto coverage, etc,.

But I do understand. Self insuring isn't for the faint of heart. That's why all these insurance companies exist

My home has a $5000.00 deductible, my autos and truck liability

 

[homesteader13]

So I recently paid off my note with John Deere so with that my insurance through John Deere on the tractor goes away. The tractor is covered for theft under my Homeowners. State Farm will completely insure the tractor for $20k for $250 a year with 0 deductible or $190 a year with a $500 deductible. This is a 2013 3032E. My only question is, do you guys buy this supplemental insurance for damage to the tractor? I'm thinking not. But the theft protection under the Homeowners is nice for free.

Thanks

Even though it is covered under personal property and liability umbrella on our farm policy in Nebraska and Montana, we have the full coverage insurance on our 2015 Massey 1742 Premium through Agco, our equipment finance company $25.00 a month and covers anything that could happen to it, including, fire, theft, accident mechanical malfunction, roll over, etc.
Pretty cheap coverage for what it does. We prefer to be over covered rather than under covered. At our age (mid 40s) a few cents a month is well spent for amazing coverages.

 

[k0ua]

I still have KTAC on the Kioti

 

[oosik]

Yes, my tractor and all implements are covered under my State Farm homeowners policy. While they are on my property. No added cost.

 

[LD48750]

It would take more than 60 years of what I pay in insurance to replace the machine. If I loose the gamble I can稚 afford to replace the machine. While I don稚 disagree I知 likely giving away money not insuring is a good way to end up in financial ruins.

Add up all the insurance payments (house, car, equipment,appliances, everything) you have made in the last 10 years then list all the claims paid & let us know the result.

20 years?

In my case, going back 50+ years, I show a BIG loss to insurance companies.

 

[nybirdman]

In NY state;I have an Inland Marine policy that covers by tractor and implements on my property;they are not covered on my home owners.Price is $157.00/yr.