Insurance ?

[Pawnee]

Does anyone in Ontario have 'Fire & Theft' on their tractor?
This machine is worth about 5 times what my car is and I'm thinking I should get some insurance.

edit: I found some videos here, should have looked first.

Thanks,
Mike

 

[Bmyers]

Not in Ontario, but yes I have insurance on my tractor.

Big investment not to have coverage.

 

[Goz63]

I have the Kubota insurance. If not, I would have a policy on it separate. The Kubota insurance is nice because it is a $250 deductible and covers pretty much anything you could do to it including damage while using it.

 

[NCL4701]

Don’t know if you have the option to go with Kubota insurance or not. If you do, I hear good things about it. No first hand experience.

If you use it for any kind of business, ever drive it on the road, or ever take it off your home premises, don’t overlook the need for liability insurance in addition to coverage for the tractor itself.

It may be worth a discussion with an insurance agent in your area who regularly deals with farm/construction equipment to make sure you have what you want/need without anything you don’t need.

And yes, I have the tractor and the higher dollar implements specifically scheduled on a policy to cover them plus a liability endorsement on my homeowner policy to cover my non-business off premises use. Neither is particularly expensive.

All that said, I know nothing about insurance outside the US, which is part of the reason I suggest discussing your situation with a local agent who deals with insuring equipment.

 

[Smitten8r]

The easiest solution to insure a tractor on an off-farm property in Canada is through Duliban insurance and their "Tractor Protect" program (https://dulibaninsurance.com/get-a-quote/tractor-protect/). I had to go this route as I do not have a farm (ie: no farm insurance) and my home and auto insurance policies (through Economical insurance) would not cover the tractor.

In Canada, you can only get the Kubota "KTAC" insurance if you finance your tractor through Kubota. It is not possible to get the KTAC insurance for cash purchases or if you purchase through a non-Kubota dealer. My understanding is that this is different in the USA, where getting KTAC insurance is a bit easier (and the best option if you can get it). Also in Canada, it can be difficult to insure your tractor within your home or auto insurance policy as many insurers have a specific exemption for tractors. Insuring through a farm policy is not problem, of course, but not all of us are buying a tractor for farm use or have access to a farm property to insure it through. Check out the Tractor Protect program I mentioned above - it's costing me around $330/yr for the Premium plan (fire, theft, off-property liability, implements).

Good luck!

 

[Pawnee]

Thanks, I watched the Duliban video and will call them if my homeowner insurance won't cover it.

 

[Pawnee]

Well, my homeowner policy covers a compact tractor up to $15K. I got extra insurance to cover the L2501 for fire, theft, vandalism, and some other stuff for under $20 a month.
Only on my property though which is fine.
I'm mostly concerned about fire and theft.
Thanks for the suggestions.

Mike

 

[ItBmine]

Yes, have my tractors and all my implements listed under my homeowners insurance. They have the list of all the serial numbers off everything.

If you finance I have heard the Kubota insurance is really good.

 

[SILKROAD900]

Just purchased the insurance from Duliban for my LX3310 including all my attachments. Stated value of tractor and attachments was approx $60,000. In CDN dollars and the premium is $45.00/month CDN$.
I am in Ontario Canada and purchased the premium insurance package. The whole online process took less than 10 minutes.