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Discussion Starter #1
So, while I was working with my Allstate agent on a separate issue, I asked about items I have stored in a barn that is adjacent to, but not on my property. While I have an ownership interest in the barn, it is not on my homeowner's policy.

The agent said there was no problem covering my X485 - up to a $2,500 limit!:eek:

The issue is the policy form I am covered under. To get additional coverage, I'd have to change the form, and that presents some other limitations as presently I have 100% replacement value hail damage coverage for the roof and if I change policies, it will go to depreciated value.

I looked online and saw there was a company that wrote coverage for John Deere finance, and you can buy insurance from them following the end of the finance term. I didn't have time to see if that applied to just farm size toys, or garden tractors as well.

Anybody check out the JD affiliated plan? Anyone using a separate standalone policy to cover their tractor?
 

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I have no idea how much the policies run like you're wondering about, but there are other options that can tag on with your existing insurance; just one example is getting coverage for a small mowing business (which covers property damage and your choice of equipment coverage - $10k on equipment is common), then the tractor is covered no matter where it is; they can vary quite a bit per year depending on your company ($1-400 should be a safe bet).

Is it just not an option to keep the tractor on your own property? That would probably be the ideal thing, but I realize it might not work; then again, it may be cheaper just to buy a pre-fab shed like a lot of people do just for the tractor. Most homeowner policies cover up to a certain amount (10-15% is common) of your possessions when they're off site, which should be enough to cover your tractor (as long as you don't have other things off site at the same time); keep in mind that you can change that number for a fairly minimal cost (raising your total possession coverage, which in turn raises your off site coverage since it's a percentage.. and it's usually dirt cheap to do that).
 

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I have the insurance offered through Deere for my X534... I take it off my property a fair amount so I didn't want to leave it to my homeowners policy.
 

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My rider is covered on my house policy.
:ditto:
Asked my broker before I made the purchase. Wanted to make sure the machine was covered in the event of theft or damage. As far as State Farm is concerned, all LT/GT are covered under the home owners policy as long as equipment is on property. Independent coverage (like automobiles) is required for full size tractors or anything needing a license plate or to be registered to the state.
 

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Discussion Starter #6
I have the insurance offered through Deere for my X534... I take it off my property a fair amount so I didn't want to leave it to my homeowners policy.
Is that the policy that is offered when you finance through JD? would you care to share how much it costs/year?

For those who have coverage through your homeowner's policy, thanks - but my question is specifically about additional policies. For my current policy, which I want to keep, Allstate does not provide additional scheduled coverage for my X485's full value. It is covered for $2,500 (loss value, I have a $1,000 deductible, so effectively it would cover $3,500 of stated value). They have other policies where you can get coverage. Other companies are different, too.

Anyone else care to share?

TIA
 

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The cost for the insurance was $100 for the term of the loan. I believe it ends when the loan is closed. I'm not sure if there is another option once the loan is paid off.
 

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When I financed with Deere (0% offer) they wanted to know my home owners policy number. I asked why and they said just in case of fire and theft. At the time I thought it was odd as I had financed another tractor years back that didn't require that.
 

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I bought a separate policy similar to an auto policy while I owe on my x748 that covers it at all times. I found out that my home owners does cover it for only some situations for example if it's in the garage and the house catches on fire or there is wind damage while it's in the garage or a building on my property, theft, ect... but say I am cutting grass down by the woods and roll it over (not covered) or for some reason it catches on fire out working in the yard(not covered) or plowing snow at the end of the driveway and someone slides off the road and into me (then I have to hope their insurance covers it). I also cross the street to help the neighbor with snow or using the loader... for this I was told I would really be on my own. I also take it to my families place and again not covered. Even in transport on a trailer I got the insurance company to admit there might be situations that my existing auto policy or other driver's polices may not cover it. I decided at least till it's paid off I better have some degree of insurance because of the expense of the machine and having a loan.
 

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When I financed with Deere (0% offer) they wanted to know my home owners policy number. I asked why and they said just in case of fire and theft. At the time I thought it was odd as I had financed another tractor years back that didn't require that.
I had to do the same thing when I finance my 748 as well. I didn't think it was a big deal because JD Financial is just protecting their butt (and mine).

I don't have any details because the addition to my HO policy was only a minimal cost increase on my mortgage payment, property tax went up more and took a bigger bite out, although I am not complaining, we still have low PT's compared to others.

Paul
 

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if his mower starts a fire he/his ins needs to pay for every thing not just his mower
i put an extra $5000.00 on my tools if not id of got $1000.00 for everything

john
 

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Discussion Starter #13
The cost for the insurance was $100 for the term of the loan. I believe it ends when the loan is closed. I'm not sure if there is another option once the loan is paid off.
Thx

When I financed with Deere (0% offer) they wanted to know my home owners policy number. I asked why and they said just in case of fire and theft. At the time I thought it was odd as I had financed another tractor years back that didn't require that.
They are protecting their loan collateral.

I bought a separate policy similar to an auto policy while I owe on my x748 that covers it at all times. I found out that my home owners does cover it for only some situations
Thanks - who did you purchase it from?
 

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Thanks - who did you purchase it from?
I get my home and auto from the same agent/company. Since by doing that you typically get a discount and they would add a policy for the tractor I just got it from them. The company I currently have is American Family.
 

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Discussion Starter #15
Thanks. I think I asked Allstate if they did a totally separate policy, but I don't remember. I will ask again to be sure.
 

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When I first purchased my lawn tractor and my wife watched me mow for the first time, she went out and bought accidental life insurance on ME!:praying:
 

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Discussion Starter #17
When I first purchased my lawn tractor and my wife watched me mow for the first time, she went out and bought accidental life insurance on ME!:praying:
:sidelaugh


I just called Sentry Insurance, who writes the JD finance insurance coverage.

They are willing to write a 4 year actual cash value policy for a total of $110.

He's emailing the documents over. I'm anticipating signing on the dotted line.
 

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For my X485 i got a rider (i think thats the term.) I have total replacement for 6000 and a 500 deductable. I pay ~15-25 dollars a year.

They asked me what i expected replacement cost would be and i told them 6k they insured it sight unseen.

But last year they changed their policy to include GT up to i think it was either 25-26hp I dont remember but i figure this is cheap insurance just incase it get stolen or fire.

I use Germania out of brenham texas, home of Blue Bell ice cream and great insurance.

Sent from the MTF Free App
 

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Discussion Starter #19
For my X485 i got a rider (i think thats the term.) I have total replacement for 6000 and a 500 deductable. I pay ~15-25 dollars a year.

They asked me what i expected replacement cost would be and i told them 6k they insured it sight unseen.

But last year they changed their policy to include GT up to i think it was either 25-26hp I dont remember but i figure this is cheap insurance just incase it get stolen or fire.

I use Germania out of brenham texas, home of Blue Bell ice cream and great insurance.

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I will look them up. It would be nice to have a replacement value policy.

For homeowner's insurance, replacement value is what it would take to replace with a new item of similar specs. So, for an X485, that would be an X735. My $6,000 used tractor would cost probably $9K now.
 
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