Do you really need liability coverage when it comes to insuring your compact utility, industrial or commercial tractor? Just because you’re not using your tractor to cruise down the road or commute to work, it doesn’t mean you should forgo this important policy coverage. There are plenty of hazards that can pop up on your property, farm or work site that can prove dangerous to you and your tractor, and you don’t want to be stuck footing an expensive bill at the end of the day.
Tractor insurance works somewhat like car insurance, but with important differences – it just depends on how the tractor is most often used. Liability protects you against accidental damage to other people and their property. That means the insurance company will pay compensation to either the owner/driver of the tractor or third party that’s involved in an accident while working with the tractor.
As well, your tractor insurance provider may offer bodily injury liability as part of its liability coverage package. Bodily injury liability will cover you for injuries or death to people involved in an accident involving your insured tractor. It can also pay for legal defense costs if you are sued as a result of an accident.
Because your tractor is part of your livelihood and a costly investment, you’ll want to protect it and your property. Since tractor liability insurance differs across states and provinces, you’ll need to talk to your insurance provider to find out if this type of coverage can benefit you. Be smart, shop around and make sure to compare prices and deductibles offered by a variety of liability coverages – only then will you be able to accurately decide on the right policy for your tractor.