Insurance What insurance do you carry on your financed John Deere

vtsnowedin · Jul 4, 2012

Driving home last night my better half asked me what insurance I needed to take out on my new 5045E (If it ever gets here). I've tried to think about every option and possibility on this tractor and have got right down to the length and threads per inch of the hub extension bolts but insurance has never befor, her question, crossed my mind.
What does JD financing require and what do you think is wise to carry on top of that?

rekees4300 · Jul 4, 2012

My agent says the JD4300 is covered by the home owners policy so no extra insurance needed. Suggest calling your agent since his companies policy may differ.

Buckgnarly · Jul 4, 2012

Homeowners covers my tractor, but I did have them add it with serial number to the policy just to be sure. This is only if I don't use it commercially though, that would cost extra $$.

smalltown · Jul 4, 2012

I payed for the John Deere insurance as it was quite inexpensive. The JD insurance however just covers JD not me as the insurance claim would pay off the unpayed balance on the loan to JD. I also covers JD while I am trailering the tractor.

My homeowners does cover my tractor, but not one foot off of my property. For insurance off my property I would have been required to buy commercial insurance, and I was not willing to pay the high price.

vtsnowedin · Jul 5, 2012

Thanks for the replies guys. I'll explore both possibilities. Dose JD have insurance that will cover fire and theft loss?

sfloggie · Jul 5, 2012

I insure everything through KTAC. Bird in Texas gave me this help when I could not find insurance as we do not have a home on the farm. They insure our JD tractor, all implements (JD & Frontier) and the barn plus Polaris with full replacement for $467 per year.

http://www.ktacinsuranceagency.com/

sfloggie · Jul 5, 2012

sfloggie said:
I insure everything through KTAC. Bird in Texas gave me this help when I could not find insurance as we do not have a home on the farm. They insure our JD tractor, all implements (JD & Frontier) and the barn plus Polaris with full replacement for $467 per year.

http://www.ktacinsuranceagency.com/

This is for damage, fire, theft, wind, etc.

MWRR · Jul 7, 2012

I called my insurance agent and all he required was the model & serial number to be itemized on my policy. There was no increase in my premiums as I have a minimum dollar amount for equipment and I had not met the minimum. The tractor is covered off the farm as well as on the farm.