Insuring a Tractor (Kubota)

[insurance1822]

Anybody know where to go w/ this? Somebody is buying a $30,000 Kubota to cut their grass & service their huge property. I understand that it's NOT excluded under contents b/c it's solely used to service the property, however that would only be named perils.

Named perils wouldn't include crashing the machine or a variety of other losses that could occur? Progressive & Foremost DO NOT have a market.

 

[myfakename]

seems that it would be as simple as adding it to their homeowners or farmowners policy as long as they are not using it for profit.

 

[Herkster]

Anybody know where to go w/ this? Somebody is buying a $30,000 Kubota to cut their grass & service their huge property. I understand that it's NOT excluded under contents b/c it's solely used to service the property, however that would only be named perils.

Named perils wouldn't include crashing the machine or a variety of other losses that could occur? Progressive & Foremost DO NOT have a market.

Just schedule it at the value they purchased it for. But, you are correct, that you probably can have it under HPP, but I don't think that'd be the best route to go.

 

[hesse]

most homeowners put a cap at 5000 on equipment used to service the property. Like others said just schedule it on the homeowners. Otherwise you will have to find a market that will write stand alone inland marine.

 

[Placementkid]

Selective is my go to for a monoline inland marine policy, but MSA, Liberty, Preferred are all viable options.

Does the insured trailer this anywhere?

 

[InsCommentary]

There is greater variation in coverage for mowers than maybe anything else in HO policies. Even with ISO forms, the coverage is vastly different between their 1991, 2000, and 2011 editions. IF it's covered and that's a big IF on the latter edition forms, then you can cover on an open perils and replacement cost basis. ACV suffers rapidly from depreciation for this type of equipment. So whatever HO policy is being used, you need to review this coverage VERY carefully.

 

[1manshow]

Our small mutuals...regionals will write this kind of stuff stand alone. Maybe it will depend on what state you're in.