If you’re a farmer with any type of tractor, you know how valuable it can be. Whether you grow crops or you mow lawns for a living, you rely on your tractor to get to work. However, like all equipment, they need to be taken care of in order to perform at their best.
A prime example of this is when your tractor’s engine starts emitting an unsettlingly grunty noise, signaling a potentially serious engine problem that demands swift repair. Neglecting such issues could lead to a complete engine breakdown, resulting in costly consequences. Likewise, if your vehicle has damaged or ruptured tractor tires, it can limit its mobility and restrict you to carry out essential tasks on the farm. In such cases, you may need to obtain new farming and Industrial tyres from Fieldens OTR (or other reputable companies) in order to ensure that your tractor can move freely and unhindered once again.
While these are the common maintenance and repair scenarios that you, as a responsible farmer, must always keep in mind, certain circumstances may prove more challenging. In the unfortunate event of a serious accident involving your trusty tractor, the costs associated with repairs can escalate significantly. In such dire situations, having comprehensive insurance cover can be a lifesaver, facilitating the restoration of your invaluable vehicle and enabling you to swiftly return to the fields where you belong.
Steps to Getting Insurance for your Tractor
Get an insurance quote
Tractor insurance can give you the peace of mind to travel wherever you need. Unlike car insurance, tractor insurance doesn’t cover physical damage to a vehicle. It covers the financial consequences of any accidental damage or injury when operating your tractor. Therefore, you would need to make sure that you have sturdy parts such as tractor tires, suspension, body, and so on.
Compare the rates
While getting an insurance policy for your tractor is a must, comparing your options can ensure you get the best tractor insurance for the best price. Owning a tractor, farm equipment, and livestock all come with the need for insurance. When it comes to insurance for your tractor, it is important to compare rates from different companies.
Read the fine print
Tractor insurance is not usually part of a farm policy. Unless you own a farm equipment dealership, chances are your farm policy will not include a tractor. However, many tractor owners may want additional protection. A farm policy may include coverage for a tractor used for farming, such as a farm utility vehicle (FUV). A farm policy will likely have incidental coverage if the tractor is “garaged” on a farm or ranch.
Inform your insurance professional
When you’re planning to buy a tractor, it is important to do your research beforehand. Make sure you know all the types, models, and manufacturers available. If you’re a first-time buyer, it’s worthwhile speaking to someone who already owns one to get some advice from them. Knowing how much insurance you need and what type to have is also important.
Prepare your tractor
Tractor insurance costs more than car insurance, but adding it as a rider to your existing car insurance can cost a lot less. If you’re shopping for it for the first time, be prepared to answer a few common questions and expect some shopping.
Renew your policy
While “tractor insurance” might elicit images of heavy equipment and giant machinery, these policies cover the most commonly used of all farm machines. Furthermore, these policies typically cover equipment such as a hay mower, roller crimper, and snow blower. You can benefit from tailored insurance policies that provide coverage for a wide range of farm equipment.
It’s never fun to think about, but what happens to a tractor if its driver is injured on the job? Many farm workers are on workers’ compensation but may not realize that if they’re injured driving a tractor, they might qualify for these benefits.
Why We Need to Get Tractor Insurance
Sometimes, it’s the smallest of things that add up to create big problems. When you’re first starting the farm, it’s unlikely that you think about and plan for the things that could go wrong. That’s just how life is-it’s unpredictable, and things sometimes happen. You work hard, day in and day out, and as time goes by, you realize it’s not quite as easy as you thought it would be. That’s especially true when you face setbacks like equipment breaking down.
Tractor insurance is important for all business owners who rely on a tractor for their livelihood. You need to protect your livelihood with tractor insurance if you’re a farmer.
Tractor insurance is necessary because tractors are expensive, not only to buy but to maintain and replace if anything goes wrong. If you finance your new tractor, then your lender will require some type of tractor insurance. Tractor insurance is a contract between you and the insurance company. It pays you a certain amount if the tractor is damaged or destroyed.
