Tractor Insurance

[hillbilly rick]

I am going through this now. My State Farm agent told me - after asking their underwriter - that they would not cover my tractor off my main property since my other property is used for recreational use (hunting). I do have a quote from Nationwide that covers my property as a hobby farm that would also cover the tractor, but it is pricey. I'm still looking at options. I have a call into Great American.

Will Kubota only cover their tractors, or will they also cover Deere?

 

[sfloggie]

Rick,
I have tried to find insurance for three years as my home is not on the farm. USAA deferred me to Progressive which have me a policy for one year that was almost worthless for $544. This covered our Polaris Crew and the JD 3320.

I tried to find others, but most like Farm Bureau, wanted all of my insurance under them and I was not leaving USAA.

I finally found the Kubota KTAC Insurance Agency in Suwanee, GA. Their office has been great to work with. Phone: 800.348.5802. Find their email at http://www.ktacinsurance.com.

I ensured the 2006 JD 3320, 2010 Polarius Crew, and seven JD implements with full replacement and $250 deductible for $477 per year via KTAC a backed through OHIO Indemnity Company. All are covered in transport which none of the other policies would cover.

This information came to me from a great TBN guy from TX who had been with them a long time. I am happy!

Jim

 

[hardtack]

When we first moved to Brown County Indiana I got my home owners from State Farm. When I got a restored Farmall B my father-in-laws estate, I went to the agent to add the tractor to the policy. She said I'd have to change my initial policy to a Farm Policy from a home owner. We have 60 acres so this was not a problem. After that adding the pole barn and another tractor , JD790, was no problem. I just had to have a replacement value on the tractors and buildings.

 

[MHarryE]

I have State Farm and switched from a homeowners to a farm. Should have done that when I semi-retired in 2009 and started farming instead. My agent wasn't too familar with this stuff until he started checking into things as I asked questions. So now my equipment is covered for up to 200 miles from my home farm (the distance to dealers keeps increasing so they bumped it from 100 to 200 miles so your equipment is covered when visiting the dealer). I still have a problem in that I also am part owner of a farm in Missouri and since the ground is frozen so deep in MN, I take my mini-excavator to my MO farm in the winter. I lose most of my coverage once I reach the Twin Cities but at least my liability coverage is effective in MO. I thought this all would be like insuring my cars, trucks or trailers - insure and I'm covered throughout the US.

 

[dmccarty]

JD covered my tractor since I had a loan with them.

When I paid off the loan I had to get coverage. I may have had, or been able to get coverage, from the company that was covering us when we lived in the city but I cannot remember. Eventually we moved all of our insurance to Farm Bureau since they were so much cheaper. The tractor is on an Inland Marine policy.

The tractor is covered anywhere unless I am using it to make money. I can grade our road and be covered.

Until the area built up, I would mow the roadway since there was nobody else to do it. I always worried about the liability.

Another car hit us a few years ago and as a result I changed our insurance coverage quite a bit. We added an Umbrella policy for more protection including the tractor use. It is a few hundred a year.

Later,
Dan

 

[Scotty Dive]

I read through this thread and I called my insurance company - USAA. They explained to me that I would be covered under my homeowners for any damage that I create with the tractor or damage to the tractor due to fire, tree falling etc - they even gave an example of the engine freezing and cracking the block. And as always when trailering it, I am covered via my car insurance.

Now going to someone elses property is a whole nother issue and if you work your tractor for profit that too is different.

 

[stl]

I just got an email back from Kubota KTAC insurance, and they tell me that they do NOT cover anything other than Kubota. Wish they did.

 

[joemd11]

I have USAA and to insure my LS tractor they got me a rider thru Great American. I would love to go with KTAC, but I assumed they only covered Kubota stuff. Now I see sfloggie got his JD covered by KTAC. I'm confused.

 

[grsthegreat]

I just went thru this entire scenerio with state farm (and i checked 2 other companies also).

1. Homeowners policy will cover any damage the tractor does to your property as long as the tractor never leaves your property. it DOES NOT cover any damage to your tractor though..only the damage your tractor does to other insured buildings. If you trailer the tractor off the property the trailers insurance (if you have insurance on the trailer) will cover damage the tractor may cause if theres an accident, but again does not cover the tractor itself. If a tree top breaks off and smashes my cab...no coverage.

2. Homeowners policy ends the second it leaves the property.

3. For $240/yr i got an inland marine policy that covers my tractor and all implements (500 deductible) for any and all damage, fire, theft. So i get $45,000 in coverage for $240/yr. It also covers me for commercial snowblowing and/or commercial use of my tractor. If i suck up a boulder and destroy my snowblower, thry will cover it (it doesnt cover mechanical damage to tractor though such as transmission, etc). Now, If the same tree top snaps off and destroys my cab, all but $500 is covered.




the policies that JD, Kubota etc sell cover the loss of the tractor in terms of paying off the remaining loan ONLY. I checked into this with my old JD. It just protects the loan. I checked with Progressive, Farmers and Nationwide, and was told the same thing that Homeowners Insurance DOES NOT cover tractors, boats, Jewelry, Gun collections, rare coin collections, etc. all these HAVE to have their own policies.

Now, i see some here have stated that their underwriters TOLD them your covered. Now I ask these same people to GET THIS IN WRITING for your own protection. Ive been hosed by insurance companies soooo many times over the years i get EVERYTHING in writing.

 

[ashwood486]

Thanks for all the info, I never thought about this until I let a relative borrow my B21 and he called saying it was stuck and could I come and operate it for him. He had it stuck and in a very bad position almost ready to turn over in a place that looked like a swamp. I run heavy equipment everyday and when I climbed on I was searching for a seatbelt. It worked out fine and 20 minutes later I was able to get it out but, I had thoughts off what if and I don't have any insurance if this things turns over.
I am currrently looking for the best options and seriously rethinking the loaning out of my machines. LOL

 

[hardtack]

I believe it was Polonius is speaking to his son Laertes:

Neither a borrower nor a lender be;
For loan oft loses both itself and friend
And borrowing dulls the edge of husbandry.

:laughing::laughing::laughing:

 

[DieselMonk]

you guys are lucky... here in Nova Scotia I have to purchase a seperate tractor insurance, as it is NOT covered under my home owners. I looked and things like 4 wheeler, tractors, tractor equipment is not covered. A little 16hp ride on lawn mower yes. I guess canadians gettn hosed again. What gives?

 

[cnsJohn]

Hello Everyone. I'm new to the forum and wanted to let everyone know their contributions really work.

Thanks to informaiton here, I was able to convince my State Farm agent to write a "personal articles" policy for my tractor and implements ($300/yr). State Farm had previously quoted me $680 for coverage.

Thank you all for contributing.

 

[DK35vince]

My homeowners does not cover my tractors or attachments.
I had to add a seperate ($140/year) Inland Marine policy for coverage.

 

[cnsJohn]

Hello DK35vince

My homeowners would cover it as part of the contents of the home. But I'm financing the tractor and the lender wanted a separate policy. I could not convince my State Farm agent to write the Inland Marine policy. They told me it was just for commercial policy holders, not homeowners.

 

[DK35vince]

Hello DK35vince

My homeowners would cover it as part of the contents of the home. But I'm financing the tractor and the lender wanted a separate policy. I could not convince my State Farm agent to write the Inland Marine policy. They told me it was just for commercial policy holders, not homeowners.

I have Erie Insurance.
My Inland Marine policy does not cover commercial. My tractor is covered on or off my property. But if I am working off my property for pay, I am not covered.

 

[cnsJohn]

Strange. But that's the insurance game. With the personal article policy my tractor, implements, and trailer will be covered anywhere I take them (at least that's what I'm told). I was OK with just the homeowners coverage, but the bank insisted on a full coverage policy. I'll know in the morning whether the personal article policy will satisfy them.

 

[grsthegreat]

My state farm Inland Marine policy IS a commercial policy. i have a business covered under it also. And i move snow for money, so i needed the commercial coverage.

 

[MissouriSprayer]

I have come to the conclusion all insurance is a scam. If they don't have the house and cars they don't want the tav's and tractor or the farm.

 

[grsthegreat]

I have come to the conclusion all insurance is a scam. If they don't have the house and cars they don't want the tav's and tractor or the farm.

oh you got that right 100%. but as usual if you have nice stuff you either have to self insure and hope for the best, or bight the bullet and pay the beasts.

I growl like an old bear when i have to cut those checks. I have invoices on my desk for over $2,000 due to my insurance company come May and i HATE IT.