Contents

Theft

Vandalism

Comprehensive

Liability

Acts of God

The Small Tractor FAQ
Frequently Asked Questions

"What about insurance?"

The most accurate thing that can be said about insurance is that coverage varies: from country to country, state to state, county to county and company to company. Your insurance coverage is apt to be different from someone else's. Check with your insurance agent to be sure about coverage for your tractor and related equipment. Special types of farm insurance are available -- even if you don't operate a traditional, commercial farm -- to protect large investments in equipment.

Insurance coverage for your tractor should include theft, vandalism, comprehensive, liability and "acts of God."

Theft of household, farm and construction equipment is big business. Thousands of "hot" tractors and related equipment are bought and sold each year. In most states such thefts are misdemeanors, so penalties for these crimes are light and there is little deterrent to this lucrative activity. There is not much you can do to prevent your tractor from being stolen except to store it in a locked building or garage. But, you should make sure that your insurance policy protects you from loss if your tractor is stolen. The author's homeowner's policy covers theft of his tractor (up to a maximum dollar amount), since it is required for "normal maintenance" of the property. Your policy may be similar, but check to be sure.

Vandalism, especially in rural areas, can include anything from childish pranks to arson. Even minor damage to your equipment may be costly to repair, so be certain your insurance policy protects you from expenses due to the entire malicious spectrum. And make sure the deductable amount is reasonable.

Comprehensive coverage insures you against accidental damage to your property. Since accidents involving your tractor are certainly possible, it is prudent to insure against costs which may result from such accidents -- again, with reasonable deductable.

Liability coverage insures you against accidental damage to others and their property. Make sure your insurance covers damage your tractor may accidentally do to other people and their possessions.

"Acts of God" are usually weather related: floods, hurricanes, forest fires, lightning, snow, wind, hail, meteorites, storms, etc. Any of these things could damage your tractor or related equipment and your insurance coverage should protect you from financial loss due to these events.