Compact Tractor Insurance Costs

Compact tractor insurance is an important consideration for owners of these versatile machines. Here are the key points about compact tractor insurance:Coverage and Necessity:

• Compact tractor insurance is not required by state law, as these are not street vehicles.
• However, if you're leasing or financing your tractor, your lender may require coverage against physical damage.
• Even if your tractor is paid in full, insurance can protect your investment in case of theft, vandalism, or accidents.

Types of Coverage:

• Liability coverage: Protects you if you're liable for someone else's injuries or damages while operating your tractor.
• Comprehensive coverage: Pays for repair or replacement if your tractor is vandalized, stolen, or damaged by fire, weather, or animal collisions.
• Collision coverage: Covers repair or replacement if your tractor is damaged in an accident, regardless of fault.
• Accessories and equipment coverage: Some policies automatically include coverage for accessories and customizations.
• Medical payments coverage: Can cover hospital bills in case of accidents, regardless of fault.

Cost:

• At Progressive, liability coverage for a compact tractor starts as low as $75/year.
• Generally, you can expect to pay $5-7 a year for every $1,000 of value your tractor has.
• For example, a $30,000 tractor might cost $150-$210 per year to insure.
• The actual cost depends on factors like tractor type, location, coverage selection, and limits.

Homeowners Insurance Considerations:

• Tractors under 25hp or 30hp may be covered by your home insurance policy, but it's important to check with your agent.
• Tractors higher than 25hp or 30hp generally aren't covered by a home insurance policy or personal liability rider.

Insurance Providers:

• Companies like Progressive, Kubota, American Family Insurance, and Nationwide offer tractor insurance.
• Local Farm Bureau offices can recommend agents in your area.

It's crucial to verify your coverage and consider standalone tractor insurance if your homeowners policy doesn't provide adequate protection for your compact tractor.

If you need any further help or have any questions about service, tractors, implements, or anything else equipment-related, please contact your dealer, local mechanic, or call us at 602-734-9944.  Please ask about our current new and used tractor supply.

If you are looking for old, vintage, classic, or new tractor parts, send us a part request. 

Team Tractor Ranch - #1 Tractor Dealer in Arizona. We sell and service most major brands of tractors including Yanmar, Kubota, John Deere, TYM, Mahindra, Kioti, Case, New Holland, Massey Ferguson, Ford, Deutz, Case IH, Farmall, International Harvester, Branson Tractors, LS, Shibura, Claas Tractor, McCormick Tractors, Valtra, Solis, YTO, Montana, and Nortrac.