Tractor Insurance

[CloverKnollFarms]

Hey, so with people lighting their tractors on fire this summer, it crossed my mind to see if I was insured.

Homeowners covers up to $16,700 per SINGLE item.(personal property) Tractor is worth $35k.

Ok, so I'm going to explore tractor insurance. It stays in a locked barn on my personal property. Who do y'all insure with? What are typical rates?

If I'm spending thousands per year, I'll save it to cover what my current insurance doesn't on the off chance it bursts into flames.

Ideas??

 

[sea2summit]

Travelers for me two tractors, baler, disc mower, and rake is right at $1,100 I'd have to look what the covered value is but it's well north of 100K. Kind of shocked it didn't go up this year, but not complaining! KTAC was more than double that without the baler, so absolutly shop around.

 

[mike0000]

After I bought my L3901 I had my insurance rep. add it to our homeowners, cost about $80 more a year. I added it after a fire scare myself. Mice had built a nest against the exhaust manifold, while brush hogging one day I smelled smoke, I wasn’t far from my house so I headed that way. That nest put off a bit of smoke but luckily did no damage, sure got me to thinking about insurance.

Mike

 

[CloverKnollFarms]

After I bought my L3901 I had my insurance rep. add it to our homeowners, cost about $80 more a year. I added it after a fire scare myself. Mice had built a nest against the exhaust manifold, while brush hogging one day I smelled smoke, I wasn’t far from my house so I headed that way. That nest put off a bit of smoke but luckily did no damage, sure got me to thinking about insurance.

Mike

Our homeowners will cover it, but only to $16,700. I have $167,000 in personal property insurance, but only 10% can be applied to an individual item, max.

 

[Lineman North Florida]

I use Farm Bureau for both tractors and skid steer , they also insure my home and farm, I don't remember off the top of my head but it is really minimal, not even close to vehicle insurance.

 

[Rdrcr]

My tractor and other equipment is covered for full replacement cost through my homeowners policy.

Mike

 

[caver]

Inland Marine policy through Shelter. Very reasonable.

 

[Torvy]

Inland Marine policy through Shelter. Very reasonable.

Inland marine policies are only valid for commercial use and transit between job sites. Unless this is true for you, you are wasting money as a claim can easily be denied. They are derived from marine (shipping) policies that evolved into 'inland' or overland shipping coverage. Just because an agent says it will cover you does not make it so. Be sure to read the entire policy in detail.

 

[WM75Guy]

I use Texas Farm Bureau for trailers, tractors, and implements. Everything is itemized for purchase price value. Now that I look at the list, I missed a few things. I also belong to the Texas and Southwestern Cattle Raisers Assoc. for added theft protection, even though we don't have cattle. They employ 30 Texas Rangers to work theft cases involving member's livestock and equipment. Thieves tend to steer clear of property with the TSCRA blue sign hanging out front, knowing the Texas Rangers will be after them. Cheap protection at $150 a year.

 

[etpm]

Travelers for me two tractors, baler, disc mower, and rake is right at $1,100 I'd have to look what the covered value is but it's well north of 100K. Kind of shocked it didn't go up this year, but not complaining! KTAC was more than double that without the baler, so absolutly shop around.

I had Travelers insurance for years, homeowners and umbrella policies. Never made a claim. When the latest bill for renewal came the bill was nearly twice what the year before bill was. I was shocked. Nothing had changed in my life except that I was one year older. So I shopped around and was able to find insurance for just a little bit less than my last yearly bill. So it pays to shop around. I think I shoulda shopped around a little bit earlier than I did. I did ask about the reason for the big increase. Nobody could or would tell me. Nor would they negotiate on prices.