Do I Need Tractor Insurance?

In a word, yes! Read More

Who Needs Tractor InsuranceYou may not be taking it out on the road for a joy ride, but your compact utility, industrial or commercial tractor needs to be insured. Your tractor isn’t just a piece of equipment – it’s vital to your business, farm or landscaping needs. Basically you need to protect your investment, and if something happens to your tractor, you’ll be covered if you have tractor insurance.

Since tractor insurance varies from state to state, your best bet is to call up your existing insurance provider to see what coverages it offers. If not, there are insurance agents that specialize in farm and landscaping equipment, like tractors, and will know the ins and outs of what you should be looking for. Just a few of these coverages include comprehensive, collision and liability.

If you buy a tractor brand new, there may be some insurance attached to it, but it only runs for the life of the loan (if you needed one to buy your tractor). Once you pay off the loan, your insurance is cut off. As well, in certain cases, your homeowners insurance or auto insurance may cover your tractor, depending on its size and what you use it for, but never assume that you’re covered.

Before you sign on the dotted line, be sure that your insurer is fully aware of the size and type tractor you want to insure. If something happens, and that insurance policy doesn’t measure up to certain specifications, the provider may not cover the damages or loss.

Many people realize the importance of tractor insurance after something has happened and by then it’s too late. Give your insurance provider a call and get the answers you need about tractor insurance – it’s always best to know right up front and clearly what applies to you and your specific situation.