Farm Tractor insurance

[First-light]

So I had a fire a few years ago and thankfully was fully insured. So after talking to the adjuster he said to go higher on my home and barn/guest house. I did that and I suggest everyone review their own policy. I have ARC Actual replacement cost on my policy. They give you the present value of the loss. OK back to the tractor. I have an 1835M Massy value around 32k. I called my insurance company and asked if it was covered under home owner insurance. It was not. Anything over 25 HP is not covered. That is what I was told. Now I'm insuring it for fire or a malfunction and it burns in the field. Any thoughts on this, love to hear them.  $395/year.

Edited August 9 by First-light

[farmer 52]

I guess I am going to have to get back with my insurance man.I have been told for years that my tractors and my jd-gator were covered under homeowners insurance as long as they were used for house/land matinence,not any commercial or pd for work.There was never anything stated as far as a limit on horsepower for coverage.

[airedale]

Back when I purchased my tractor I checked out my homeowner's and had to purchase extra insurance to cover the tractor.

Al

[landtracdeerhunter]

My policy has riders on all my tractors. Not covered if not listed separately on the policy. Never heard of the 25 hp auto coverage..  Best to check with your personal insurance carrier.

[First-light]

Tractor coverage is typically not included in standard home insurance policies and must be purchased as an add-on. This coverage provides protection for your tractor in the event of theft, damage, or other covered perils.

When considering tractor coverage, it's essential to understand what is and isn't covered. 

 

Just looked up online most say you need it added on. 

[landtracdeerhunter]

I know when financing a new tractor purchase, many financial companies will include insurance coverage for the term of the loan, at an additional charge, of coarse.

I remember it was 1/2 of the price insurance companies wanted.  The loan was also 0 percent for 48 months. Payment was 200 a month. Boy, those days are gone.

I sure miss the old days 

Edited August 9 by landtracdeerhunter
Added content

[GreenDrake]

When I bought my New Holland 60, I was told the same thing…since it exceeded 25 hp I needed a separate policy. I got a policy and also added all my implements. Mine is not used for commercial purposes….just managing my own property and woods. 

[First-light]

6 minutes ago, GreenDrake said:

When I bought my New Holland 60, I was told the same thing…since it exceeded 25 hp I needed a separate policy. I got a policy and also added all my implements. Mine is not used for commercial purposes….just managing my own property and woods. 

Same here I pay $395 a year. 

[Gobbler Chaser]

My homeowners will only cover my B series Kubota if damaged in the building it's stored in. If the building burns for any reason the contents including tractor are covered. If a storm collapsed the building the tractor is covered. If I'm out in the field and a falling tree crushes the tractor or it catches fire or rolls into my pond NO coverage. 

[First-light]

1 hour ago, Gobbler Chaser said:

My homeowners will only cover my B series Kubota if damaged in the building it's stored in. If the building burns for any reason the contents including tractor are covered. If a storm collapsed the building the tractor is covered. If I'm out in the field and a falling tree crushes the tractor or it catches fire or rolls into my pond NO coverage. 

Is it 25hp or lower?

 

[mowin]

Good Lord, don't know if this was covered.  Guy cutting several landowners fields was using this. He got both properties I hunt cut, and was on the neighbor's when shit hit the fan. From what I know he was doing a handshake rental.   3 head combine.  These pics show the 3 heads cut off to get it off the hill. I've been told $275,000, loss. 

[mowin]

And I have no clue why the pics are upside-down. Never had that issue before. 

[Gobbler Chaser]

On 8/12/2024 at 10:04 AM, First-light said:

Is it 25hp or lower?

 

Over

[First-light]

I was told 25 and over needs a separate policy. 

[Gobbler Chaser]

On 8/10/2024 at 6:37 PM, First-light said:

Same here I pay $395 a year. 

What company are you covered by?

[First-light]

7 hours ago, Gobbler Chaser said:

What company are you covered by?

Erie and Niagara insurance. I go through DomSam in Hornell.

[landtracdeerhunter]

On 8/12/2024 at 10:26 PM, mowin said:

Good Lord, don't know if this was covered.  Guy cutting several landowners fields was using this. He got both properties I hunt cut, and was on the neighbor's when shit hit the fan. From what I know he was doing a handshake rental.   3 head combine.  These pics show the 3 heads cut off to get it off the hill. I've been told $275,000, loss. 

Worst looking combine fire I have seen. Looks like it burned itself out. Deere largest combine  price tag today is 1,250,000 dollars. Think of paying that insurance premium.