Purchasing Insurance

[Furt1veOne]

How have others purchased insurance on their tractors? Recently paid cash for a L2501 and went to my insurance agent to get it added and about passed out when they said $350. From what I've read on other posts here it was less than $100 a year.
I have State Farm for the auto and house currently if that helps. Checked with the local farm bureau and they told me $450 a year for a policy on only the tractor.
Do these prices sound right? I somehow remember others getting it cheaper. Is there something special I have to say to not pay so much? Hate having such a nice tractor without insurance just in case.

Thanks,

Chris

 

[Grouse Feathers]

Hi Chris
What kind of coverage are you looking for? Most when adding it to there existing homeowners policy are just using the tractor on their own property. The insurance often does not even provide coverage off the property. If you are going to take it off the property or if you are going to use it for commercial purposes, the insurance will cost more.

 

[mdhughes]

Recently paid cash for a L2501 and went to my insurance agent to get it added and about passed out when they said $350.

I'm paying $24.66 a month for Kubota insurance, that is $295.90 a year. This does cover the tractor when it isn't on my property. I know that there are some on the forum that said they get theirs for less. Based on what my dealer told me and things that I have read on the forum, it does cover a lot of things that I wouldn't think it would cover.

My dealer told me a guy dropped a tree on his tractor and only had one payment left and the Kubota insurance covered the repairs.

 

[Eray]

I insured my L2501 through Farm Bureau for $141.00 a year.

 

[MadMax31]

Local dealer quoted me $1400 for life of 60 month loan. Barlows quoted $20 a month which is $1200 over 60 months. This also financing some of machine. Have not contacted any normal insurance companies for any quotes yet...

Does anyone know if Farm Bureau insurance would replace sky high Kubota insurance?

 

[Grandad4]

You'd have to compare the coverage details. KTAC covers off-premises operation and pays transportation costs, for example, that are generally not included in homeowner supplemental policies. Those seemed worthwhile to me, but everyone's needs are unique.

 

[toxcrusadr]

I have Shelter insurance on home and cars for a long time. They wrote me a tractor policy for $117/yr I think (L4600, almost new). Just a month or so ago so I am not sure what it covers, haven't read the fine print.