Insurance Tractor Insurance

[Katahdin]

I have my insurance through State Farm for the reasons the op mentioned (towing and off property use). I'm not commercial so it's a personal articles policy. The tractor is less than a year old and insured for the pre-discount value of the tractor, so its not cheap. The cost to insure the tractor is about the same an equally valued auto insurance policy. I expect the cost of tractor insurance to depreciate as the value of the tractor depreciates.

 

[Timm250]

I have Nationwide agribusiness insurance. I've never had to use it but it is reasonably priced as far as insurance goes.

 

[EagleTDL]

There's an excellent coverage plan from a Kubota-affiliated insurance agency (KTAC) that's not unreasonable and covers most non-commercial situations on-premises and off. Don't know if it's only for Kubota-brand equipment, but I wouldn't be surprised if other makes have a similar program also.

$202/year for me in N 'Bama, and that's on a BX-25... This list of things it covers is pretty good for the price; any "Act of God" (tornado, flood, etc), any use on the residence, any hauling back and forth, if I'm operating it off property it's got some liability attached to it, etc. The gal talked for about 45 seconds on all the things it covered... Only reason I know is that I just paid mine off cool2 and they contacted me about maintaining the coverage.

 

[sfloggie]

I have KTAC coverage for JD, components, generator and others to incude metal barn. Good policy and well priced.

 

[oldballs]

I figure that liability is a bigger issue than tractor loss/damage. Thus I added my tractor to my HO policy for liability on or off the property in non-commercial usage. I say non-commercial because I haul it to my relatives to help them out ocassionally and I also help my rural neighbors with snow or tilling etc. They offer me a few bucks sometimes for my trouble, but I'm still covered for liability if something happens. But for tractor and some attachments damage/loss I picked KTAC. As time goes on and depreciation occurs I may drop the KTAC but that's not an issue yet.

 

[Jmsmithy]

Hi Guys

Couple things. First, email I received from KTAC:


" John,

KTAC Insurance is for Kubota owners and if they have any other equipment, we can insure their equipment for them. If you do not own a Kubota of any kind, we are unfortunately not able to insure the equipment.

Thank you,
KTAC Insurance Agency
Tel: 1-800-348-5802
Fax: 866-519-8016
www.ktacinsuranceagency.com
ktacadmin@kubota.com


ktacadmin@kubota.com "

That being said, I am an insurance agent by trade and have had my own Agency for 18 years now. As for coverage/price etc, and please don't take this as an advertisement for me or any other independent agent, you really MUST talk to them and read your policy. Coverage language generally must be approved by your individual state's Department of Banking/Insurance (or whatever it's called in your state). Each carrier is different, their definitions are different, coverages and pricing is different. The benefit of an Independent Agent (ok, so here's the commercial :laughing: ) is they represent a multitude of companies to compare, not just a single company.

I tell folks all the time. There really is no right or wrong answer. It's up to you (in consultation with a qualified agent) to determine what your risk is, what your risk tolerance is and determine best action/program for your circumstance.

I also tell my clients you can't be insurance poor either, meaning you must cover yourself appropriately and realistically, without paying so much that you can't pay for the diesel to run your equipment ! :shocked:

 

[Qqueen]

Take a home owners insurance rider. However, make sure you ask your local independent agent about all the options you have. You might have to take up a fresh policy. Am sure you will have some cheap options to consider.

 

[DutchHenryBrown]

Take a home owners insurance rider. However, make sure you ask your local independent agent about all the options you have. You might have to take up a fresh policy. Am sure you will have some cheap options to consider.

:welcome: Hello from Arizona. Insurance a GOOD thing! :thumbsup: