It might not be sexy, but compact utility, industrial and commercial tractors can be easy prey for vandals and thieves. You might not see a high speed chase involving a stolen tractor on the 6 o’clock news, but that doesn’t mean tractor theft and vandalism isn’t big problem. The fact is, theft is the most frequent claim made for tractor insurance, and vandalism is another serious menace to tractor owners.
Even though it’s not a hot topic, tractor theft is big business. Each year, thousands of stolen tractors and related equipment hit the black market. And it’s not likely to slow down any time soon, as in most states, tractor thefts are misdemeanors, making penalties light. There are things you can do to prevent this crime from happening to you, like storing your tractor in a locked building or garage. You can also make sure that your tractor is covered by insurance in case it is stolen. In some cases, your tractor is covered by your homeowner’s policy, as it could be deemed as required for normal maintenance of your property. This isn’t set in stone, so check both your existing homeowner and tractor insurance policies to be sure.
On the subject of vandalism, this can include anything from thoughtless pranks to arson. Even the smallest damage caused by vandalism can cost you a big chunk of change, so it’s important to make sure you’re covered by your insurance policy. As always, when ensuring that you are covered, be sure that the deductible is reasonable.
Tractor theft and vandalism can not only cause a lot of grief, but also cost you hundreds or thousands in repair or replacement bills. You never think it will happen to you, but if and when it does, be prepared with the right amount of tractor insurance coverage.