Insuring a pulling tractor March 26, 2013 11:11AM
Is anyone insuring pulling tractors beside K&K
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Re: Insuring a pulling tractor March 26, 2013 11:44AM
I was wondering the same thing. I want to insure it when its at home in the shop and when its being hauled. Not when its on the track our club has insurance for that.
Thanks in advance.
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Re: Insuring a pulling tractor March 26, 2013 01:13PM
Farm bureau insured mine with no questions asked
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Re: Insuring a pulling tractor March 26, 2013 10:44PM
Do they know its a pulling tractor and not a farm tractor? What type of pulling tractor do you have??
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Re: Insuring a pulling tractor March 28, 2013 03:56AM
Mine was on my farm blanket for years and my insurance company said no more this year. They would write another policy for it separate from the blanket though. And that was going to be $800. minimum. Mine is not Farm Bureau.
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Re: Insuring a pulling tractor March 26, 2013 04:31PM
We use Golfway. www.racensur.com.

S'no Farmer
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Re: Insuring a pulling tractor March 26, 2013 10:46PM
How pricy is it say for $50,000 in coverage??
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Re: Insuring a pulling tractor March 28, 2013 01:11AM
Our coverage was not cheap by any means but it covers a lot of stuff. We are covered in our shop,on the road and we are covered for hasmat spills if we wreck and spill fuel or any hazardous material on the roads. The guy that owns Gulfway is a racer so he knows all of the things that are special about what we do.

We pull mod tractors so not just anyone will cover us. I'm not convinced that some of these insurance company's would stand behind what they tell pullers they will do if that puller has a claim and the adjusters start looking into the incident.

I miss spelled Gulfway in my last post.

S'no Farmer
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Re: Insuring a pulling tractor March 28, 2013 01:40PM
It's only about 300.00 a year call someone that sells ERIE insurance
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Re: Insuring a pulling tractor March 30, 2013 12:21AM
No luck adding pulling tractor to farm policy. K&K wants $1,000 for 50,000 coverage. Seems a bit high
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Re: Insuring a pulling tractor March 26, 2013 11:23PM
Mine is insured by Indiana Farmers. They just added it to a current policy I have.
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Re: Insuring a pulling tractor March 26, 2013 11:29PM
I think i got a quote once for a $50000 policy and it was under $1000
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Re: Insuring a pulling tractor March 27, 2013 09:16AM
They know it's pulling tractor I have 125k coverage added to existing farm blanket
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Re: Insuring a pulling tractor March 28, 2013 02:21AM
I've been through this before with insurance companies on farm equipment. You can insure a tractor for whatever you want, but are they gonna pay that amount if it gets destroyed. They have adjusters look for similar equipment and determine current value. They will pay you based on that.
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Re: Insuring a pulling tractor March 28, 2013 09:17AM
I went thru a claim for my 4-wheeler. When I added it to my shop ins. they asked me how much I wanted to insure it for. The premium was then based on that figure. Come to find out it didn't matter if I paid for coverage on $10,000, $5,000 or $500. They would only pay on what they thought it was worth. If the person above thinks he would be paid $125,000 just because that's what he's paying coverage for , he might be sadly mistaken. After my deal with the 4-wheeler I asked about my motor home that I've had for several years and was still paying on the amount I had it insured for. I found out that they would only pay half of that amount today just because it's older. I could have been paying much less based on what they would pay. So be aware, the amount your paying on might be a long way from what you could ever collect. Insure accordingly.
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Re: Insuring a pulling tractor March 28, 2013 10:26AM
Well i don't know about your situation but I had my tractor scheduled out and I assure you this was a hot topic with farm bureau and as long as its scheduled it will be paid if its on farm premises and not at an event no coverage extends beyond the shop or the trailer it is the same way as home owners policy if you get broke into and 20k of guns are taken you will only be paid for 2500 or so unless they are scheduled out
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Re: Insuring a pulling tractor March 28, 2013 05:12PM
My point was about paying more premium than necessary. Adjust values on your cars, trucks, tractors, and every thing else you own on an annual basis, cuz the value can go up or down every year. They wont pay on values that go up very easily, but they always want to pay you less than you have it insured for when things go bad. I had a new combine insured at 300k when it was new. I was ignorant enough to leave the policy at that for a year and it burnt up. My fault for not changing the value. They only paid 225k. So I paid 75k of extra coverage for nothing.
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Re: Insuring a pulling tractor March 29, 2013 12:51AM
think of it this way. if you traded that combine after one year, would you expect to get $300,000 back out of it? how much was your one year premium on that $225k you got for the loss of it? i have a blanket policy for my equipment and to add another piece doesn't cost that much. a pulling tractor would be under that as long as its listed on the policy.
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Re: Insuring a pulling tractor March 29, 2013 08:24AM
With me and the 4-wheeler, I was told I had full replacement value. I thought, wrongly , that if I was paying on the full cost that I paid for the unit I would be paid that amount if something happened to it. Full replacement. Had I known that full replacement value to them is what it would cost to replace it with a similar unit of the same year, make and model at the time of loss, I would have adjusted the replacement value I paid on. Buildings are a whole different thing when it comes to full replacement cost. 30 yrs. ago I had a fire in the house and they fixed everything up like new. That's where I got my assumption of full replacement.
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Re: Insuring a pulling tractor March 30, 2013 02:17AM
Insurance Companies are little more than thieves without guns. They tell you what you want to hear. Send you a policy as thick as a phone book & within that phone book is all the outs they need to collect premiums from you & pay out whatever they want, if anything. I guarantee you they will never ever pay out what a puller is worth if covered in a farm policy.
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