| Click to Post a New Message!
Page | [ 2 ] | | |
| | |
|
re: homeowner insurance
New Holland Credit Co. was very particular about the insurance I had on my Boomer before they would finance it. State Farm provided them a statement, stating the tractor would be covered if ANY thing happened to it at ANY location, as long as it was for personal use (ie. Not for hire).
|
|
 Add Photo
Bookmarks: |
|
| |
|
re: homeowner insurance
Todd, I'm also a fan of being well-insured. This whole thread is what prompted me to call my insurance company, and the result will probably be that I get a rider or whatever to cover me and my tractor in the event of any uses I foresee (driving on the road, someone else's property, etc.). It will be interesting to see what Amica says I'm exactly covered for now. Also remember that the state you are in makes a difference with insurance. I've been with Amica for auto and homeowners for over 25 years back and forth in three states (including VT!) and the policy terms and coverage were different in each of the three states.
|
|
Add Photo
Bookmarks: |
|
| |
|
re: homeowner insurance
My insurance company (Amica) got back to me on my tractor coverage questions. As I stated earlier, my tractor is covered under homeowners as long as it is being used or stored on my property and not when it is on a public road, even if that is to go between properties I own. It seems that NY state laws have changed and now I have to register my tractor for highway operation, even if it is for personal farm use and not for hire. Once I register the tractor, my homeowners won't cover it and I need to get some kind of motor vehicle policy, and then the tractor would be covered for liability and loss even if it was being used on someone else's property, as long as that use was not for hire. I'm waiting for a quote on that type of policy now.
|
|
Add Photo
Bookmarks: |
|
| |
|
re: homeowner insurance
JeffM, I am in NY too and went around and around trying to get the straight word on whether it is covered or not. There is a clause in the NYS policy that says something to the effect of 'equipment for personal use and maintenance of the residence that is not covered by DMV regulations'. The point of contention is, apparently, that no one will commit to what that means exactly. Some read it as long as the machine is not registered it is covered, some read it to mean that as long as the machine CAN be registered it is not covered because if you take it on the road it is governed by DMV regs. A riding lawn mower, for example, cannot be registered even if you wanted to. My agent recommended the first interpretation and dealing with it in court when the time comes, if necessary - just don't get someone hurt with it off your property or you'll be scr**ed. Let me know what you find out about registering it - DMV and insurance costs. That was the next step that I just never got around to. Another alternative is contractors' insurance but that is hellishly expensive if you aren't making money with the machine.
|
|
Add Photo
Bookmarks: |
|
| |
|
re: homeowner insurance
As you can read here, in NY, farm equipment is not a "motor vehicle" and as such does not require registration, insurance, inspection, or a drivers license.
125. Motor vehicles
Every vehicle operated or driven upon a public highway which is propelled
by any power other than muscular power, except (a) electrically-driven
mobility assistance devices operated or driven by a person with a
disability, (b) vehicles which run only upon rails or tracks, (c)
snowmobiles as defined in article forty-seven of this chapter, and (d) all
terrain vehicles as defined in article forty-eight-B of this chapter. For
the purposes of title four, the term motor vehicle shall exclude fire and
police vehicles other than ambulances. For the purposes of titles four and
five the term motor vehicles shall exclude farm type tractors and all
terrain type vehicles used exclusively for agricultural purposes, or for
snow plowing, other than for hire, farm equipment, including
self-propelled machines used exclusively in growing, harvesting or
handling farm produce, and self-propelled caterpillar or crawler-type
equipment while being operated on the contract site.
|
|
Add Photo
Bookmarks: |
|
| |
|
re: homeowner insurance
Steve, thanks for more information. That sure sounds like the code I was used to here in NY. Is it up to date? The insurance person implied that the NY state code had changed on this recently. This covers farm use; I wonder if the insurance company is assuming industrial/excavation use instead because I have a backhoe and loader? Getting more interesting...
|
|
Add Photo
Bookmarks: |
|
| |
|
re: homeowner insurance
Something I've learned to never expect is a definite answer from an insurance company. I understand that there really are no definite answers, because the resolution to claims potentially is through the courts. Court case are 'judged' on the basis of their individual merits, so definite rules can't be stated. However, I also understand that doubt in the minds of customers may cause them to buy more insurance, which is of course what insurance companies sell.
I'd keep this insurance stuff in mind though. I got a reminder the other day. I've been blowing most of the drive for some neighbours who have some health problems. I almost hooked their clothesline with my canopy. Stuff can happen real easy, and I need reminders. Another reminder is never drive off your neighbour's drive without knowing where their septic system is. Even a heavy compact could collapse a leech-field tile. Also, don't dig without knowing where septic, well, phone, electrical and gas lines are. Actually, I'm aware that I'm completely responsible for all damages of these types whether on or off my property. Only contractor insurance covers this stuff, which is mostly why it's so expensive.
|
|
Add Photo
Bookmarks: |
|
| |
|
re: homeowner insurance
Got a quote from my insurance company. This is basically an auto policy on a tractor, not contractor's insurance. It is to cover the tractor on the highway and on other's property, though not for hire. The annual premiums are: $288 for the JD4400, $34 for the loader, $79 for the backhoe. This is for $1,000,000 liability coverage with either a $200 or $500 deductible for collision (accident) loss (can't remember which). Covers fire, theft, etc. The premium sounds high to me, but I think a lot of that is due to the million dollar liability. I'd probably be better off getting a umbrella liability policy and cover the tractor at a lower liability. Still don't think I need to register the tractor because of farm use, but I'll want the insurance if I'm doing favors for friends and relatives.
|
|
Add Photo
Bookmarks: |
|
| |
|
re: homeowner insurance
When I got my Kubota L3710 a year ago I went to my Texas Farmers agent for insurance. Texas FARMERS doesn't sell tractor insurance!
My agent found another company that would insure my tractor for $400 a year. Since I needed insurance I paid the $400 but this year I went shopping. Farm Bureau sold me the same protection for $83 a year, Germania quoted $86. I'm insured for damage or loss anywhere within 50 miles of the house, $250 deductible, no liability. You have to find an insurance company that's used to dealing with Ag equipment.
|
|
Add Photo
Bookmarks: |
|
| |
|
re: homeowner insurance
I'm looking at a 1987-1910 Ford 4w, with 405 hrs selling for $9200. What I would like to know is this a good deal, what implememnts that can be used on it. I would use it for moving fire wood,mowing ect.
|
|
Add Photo
Bookmarks: |
|
| |
|
Page | [ 2 ] | | |
Thread 24413 Filter by Poster:
1 | 2 | 6 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 2 |
|
()
Unanswered Questions
Active Subjects
Hot Topics
Featured Suppliers
|
Gas Generator Weather Protecti
12-16-2016, 00:42 
Reply
Digg It 
Del.icio.us 