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"Although you might not think so, tractor accidents do happen, and quite frequently at that. According to the Farm Injury Resource Center, most of these accidents are rollovers, with about 44% of them falling into that category. \n\n\n\nThat makes you wonder, if your tractor injured someone or caused property damage in an accident, would you have to pay for that directly or could insurance cover it? Do you even need tractor insurance in the United States?\n\n\n\nIf you have a tractor loan, then yes, most loan companies will require you to have insurance on your tractor during the life of the tractor loan. If you do not have a loan on your tractor, insurance is optional. Overall, it’s better to have insurance than not, as the cost of hospital bills, repairs, and even tractor replacement can amount to tens-of-thousands of dollars.\n\n\n\nAre you seriously thinking about getting tractor insurance for the first time? Then this article is for you. In it, we’ll discuss more about whether you need tractor insurance, where you can get it, what it covers, and how much it costs. Keep reading! \n\n\n\nWhat Does Tractor Insurance Cover?\n\n\n\nWe have all sorts of insurance in our everyday\nlives: car insurance, life insurance, house insurance, even insurance on those\npricy concert tickets you recently bought. All offer protection, and with\ntractor insurance, it’s no different. \n\n\n\nHere are three important insurance categories of coverage to protect yourself and your livelihood against damage.\n\n\n\nAccident Coverage\n\n\n\nLet’s say you were to get in an accident on your tractor. As the stats in the intro proved, these are mostly rollovers, but not always. These rollovers can happen for all sorts of reasons, be that overloading your tractor, taking a corner too quickly, or getting too near an embankment or incline. \n\n\n\n Farm Injury Resource Center \n\n\n\nRollovers and other accidents can unfortunately\nbe fatal, but even if they aren’t, the damage they can cause is extensive. From\nproperty damage to injuries to fellow farmers and other passersby, you also\nhave to factor in the wreckage that is your tractor into the cost of repairs.\n\n\n\nTallying the above, you could be out hundreds\nof thousands of dollars, especially considering a tractor itself is priced\nanywhere from $25,000 to $150,000. Luckily, with insurance, you wouldn’t have\nto pay for these costs by yourself.\n\n\n\nTheft Coverage\n\n\n\nHere’s another awful scenario. You park your\ntractor where you always do, only to wake up the next morning and find it’s not\nthere. You look all over before you realize that your tractor has indeed been\nstolen.\n\n\n\nWithout insurance, you can call the police and\nfile a case, but if the cops don’t find your tractor, that’s as far as things\ngo. You’d have to shell out for the costs of the replacement yourself. \n\n\n\n\n\n\n\nOnce you get tractor insurance, it’s possible\nfor your provider to put forth some funds to pay for the cost of your new\ntractor. While it’s never a good thing to have your tractor stolen, knowing you\ndon’t have to pay in full for a replacement does make the loss a little easier\nto bear.\n\n\n\nRepairs Coverage\n\n\n\nLet’s say you didn’t lose your tractor\noutright, but after an accident, it’s in pretty poor shape. You didn’t hit\nanything around you, and no one was injured, but your tractor is essentially\nunusable. \n\n\n\n Manitoba Co-operator \n\n\n\nYour tractor insurance can come in handy in\nthis situation, too. Instead of having to bore the full brunt of financial\nresponsibilities for repairs yourself, your insurance can take some of the\nweight off your shoulders. That will make paying for the comprehensive repairs\nyour tractor needs much easier. \n\n\n\nIs Tractor Insurance Mandatory in the USA?\n\n\n\nWith all the perks of tractor insurance, you\nwere thinking of getting it anyway. Still, you’re curious, is it something you\nmust have or is insurance coverage of this nature optional?\n\n\n\nFor the most part, it’s optional. That said, if\nyou went through a loan company to get financing for your tractor, then your\nloan provider may ask that you insure your vehicle. The insurance could be its\nown separate cost, or it could be rolled into what you pay for your loan. \n\n\n\nWhile loan insurance is a decent enough option,\nthere are two downsides. For one, you’re not covered if someone steals your\ntractor. Also, once your loan ends, typically so does the life of the\ninsurance. You may get a few months of coverage post-loan, but that’d be it. \n\n\n\nCheck your current home insurance plan, as\nsometimes your provider may be willing to roll in tractor insurance to this deal\nas well. There are limitations to this coverage too, such as you must use your\ntractor for farming or farm maintenance only. Also, most of the time, it’s\nmandated that the tractor be on your property to count under home insurance. \n\n\n\nAgain, this limits your coverage. Home\ninsurance will often not cover theft of the tractor. Plus, as soon as you leave\nyour property, such as driving your tractor, the insurance does not protect you.\n\n\n\n\nThat’s why it’s much better to choose a company\nthat specializes in tractor insurance. \n\n\n\nWhich Companies Offer Tractor Insurance?\n\n\n\nWhere do you find these companies? Here’s an\noverview of some of the better-known tractor insurance companies for your\nperusal. \n\n\n\nNationwide\n\n\n\nIf you already use Nationwide for your personal insurance, take a look at their business insurance, namely their tractor and farm equipment protections. Calling their farm insurance AgriChoice, Nationwide says you receive protection when operating leased, rented, borrowed, and owned tractors and related farming equipment.\n\n\n\n\n\n\n\nIf your tractor suffers foreign object damage,\nground or roadbed damage, or hitching and towing damage, you’re covered. You\nalso get cab glass coverage without a deductible. Further, AgriChoice protects\nyour vehicle from wind, lightning, and fire damage.\n\n\n\nBesides tractors of your own or someone else’s,\nNationwide’s AgriChoice tractor insurance protects the other farm equipment you\nmight use regularly. This equipment includes:\n\n\n\nGPS equipmentPortable structures, including fencesPortable irrigation equipmentFarm office equipmentField equipmentHay rakesSprayersPlanters\n\n\n\nAmerican Family Insurance\n\n\n\nAmerican Family Insurance provides life, home, auto insurance, and more, including protections for farm equipment and tractors. \n\n\n\n\n\n\n\nYou can choose from scheduled or blanket\ncoverage. With the former, you pick the items you want insured by their value,\nwhich you also determine. Scheduled coverage is considered more customizable\nthen. With blanket coverage, you get a single total limit for all your\nequipment, including tractors.\n\n\n\nUnder an American Family Insurance plan, you\nwon’t have to pay the full costs should you have a tractor collision as well as\ndamage from smoke, hail, windstorms, lightning, and fire. Even vandalism and\ntheft are covered.\n\n\n\nIf you need more for your tractor insurance\nplan, you have options. American Family Insurance lets you add on coverage such\nas:\n\n\n\nIngestion\nof foreign objects for farm equipment and machinery coverageOpen\nperils coverageBorrowed\nor rented farm equipment coverageFarm\nequipment breakdown coverageReplacement\ncoverage \n\n\n\nShelter Insurance\n\n\n\nAnother option for your consideration is Shelter Insurance. With an insurance policy through this company, your tractor is protected from all sorts of maladies and damage. Such examples are:\n\n\n\n\n\n\n\nCollapseLightningFlooding\n(only from overflowing water)VandalismCollision\noverturnsBroken\ncab glassHail WindstormsFalling\nobjectsTheftFire\n\n\n\nWith Shelter Insurance, you get the option to\nlist farm equipment one by one for a set amount. Even farming equipment\nattachments are eligible for this, letting you add more to the value of your\ntractor. \n\n\n\nHow Much Does Tractor Insurance Cost?\n\n\n\nOne of the biggest questions on your mind is\nlikely how much you’re going to pay for your tractor insurance. Owning a\ntractor is far from cheap, so you try to avoid tacking on too many extra\nexpenses. \n\n\n\nThe cost of insurance varies based on factors\nlike a.) insurance type chosen, b.) the insurance company you’re working with,\nand c.) the extent of your coverage. For instance, if your tractor coverage was\nrolled into a home insurance plan, then you likely wouldn’t pay any extra for\nit. Remember, in almost all cases though, you can’t leave your house and still\nhave your tractor be insured, so there are limitations. \n\n\n\nFor insurance exclusive to tractors and other\nfarming equipment, the price may be around $135 annually. That’s $11.25 a\nmonth, so it’s hardly breaking the bank to protect one of the costliest (if not\nthe costliest) vehicles you own. \n\n\n\nConclusion  \n\n\n\nWhile you don’t have to get your tractor\ninsured in the US, it’s a good idea to do so anyway. Tractor insurance protects\nyou from theft, vandalism, weather damage, accident damage, and a whole lot\nmore. While you can always use home insurance to cover your tractor, this isn’t\nas expansive.\n\n\n\nYou may never get in a tractor accident, and we\nhope you don’t. Still, the peace of mind you get from knowing you’re covered\nwith tractor insurance is priceless."
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