Do I Need to Insure My Tractor?

A tractor is a heavy piece of equipment and, in the event of an accident, can do heavy damage. It’s always a good idea to have insurance to protect you and your family from costly repair bills.

What is tractor insurance?

Tractor insurance helps pay for repairs if your tractor brakes down or when you’re involved in an accident. It can cover you if you’re found liable for damage to someone else’s property or personal injury.

A tractor is capable of doing a substantial amount of damage to both property and persons. Without insurance on your tractor you could end up paying thousands of dollars in repairs or hospital bills. Insurance can also protect you or your family member if you’re injured from falling off while operating the tractor, having a toe crushed, or worse.

What kind of coverage do I need?

Loan companies will often require you to have insurance during the life of your tractor loan. Sometimes they’ll even include it in the loan itself as part of the deal. What they won’t tell you is that insurance often runs out once you’ve paid it off.

Your home insurance may cover your tractor as long as it’s on your property and being used for maintenance or farm use. Once you drive it off your property, you’re likely on your own, if you don’t get additional coverage. Some auto insurance companies will also cover your tractor when transporting it on a trailer attached to your vehicle.

Neither of these options are all-encompassing and they may not protect you in the event of theft. That’s why it’s important to consider purchasing tractor insurance. It’ll help you cover your bases and you’ll know you’re protected.

When you own a tractor and use it on a consistent basis, it’s important you have an insurance policy that will protect your tractor. Call a licensed agent today so he/she can help you find an insurance policy that gives you the coverage you need.

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