Hey there, tractor lovers of Rogersville, Missouri! Ever find yourself mulling over whether your homeowner’s insurance policy has got your tractor covered? Do you need to shell out for some extra insurance just for your big green machine? Well, it’s not as simple as yes or no. Let’s unpack the complexities of tractor coverage right here in our corner of the Show-Me State.
Just a Quick Side Note…
Before we dig in, let’s remember that tractor coverage might not be a done deal in your homeowner’s insurance, or it could come with a catch or two. So, it’s a good idea to give your policy a once-over and sit down for a chinwag with your insurance buddy to see how the land lies. And keep in mind, this blog post is casting a wide net, so your circumstances might vary a little.
The Lowdown on Tractor Coverage…
Tractors, come in all kinds of shapes and sizes, from big names like John Deere, Massey Ferguson, Kubota, New Holland, and Mahindra, to mention just a few. Your homeowner’s insurance typically takes care of your stuff, but vehicles often get left in the dust. So, is a tractor a vehicle in the eyes of your insurance?
Let’s break it down.
Typically, vehicles don’t get much love from homeowner’s insurance EXCEPT if they’re just used for taking care of your property. So, if your tractor is:
Just doing its thing around your property,
Only used for your jobs,
Needs coverage that’s less than 10% of your total personal property coverage limit,
And stays clear of hitting the highway,
Then, yep, your homeowner’s insurance is going to embrace your tractor under its tractor coverage. This falls under the umbrella of personal property coverage and is subject to your homeowner’s insurance deductible.
Food for Thought on Tractor Coverage…
The type of home policy you have (like HO3/HO5) determines what kind of mishaps would be covered. Most folks have the HO3 form, which only covers personal property for those little hiccups listed in your policy.
So, if your tractor decides to go rogue and take a leap off your trailer or something else unexpected happens, it probably won’t be covered by an HO3 because “doing a Houdini off a trailer” isn’t on the list.
Now, if you’ve got an HO5, your personal property coverage is broader. It’s designed to cover all hiccups unless they’re specifically not invited to the party. So, if your tractor takes a dive off the trailer and that’s not excluded – then you’re likely to be covered.
If your tractor doesn’t fit the bill we’ve been talking about, you need to have a chat with your agent about getting it added to your policy or bagging a policy just for the tractor.
So, does your homeowner’s insurance in Missouri cover your tractor?