Farm Equipment, Tractor & Truck Insurance

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Having a solid farm equipment insurance policy can ensure that you don’t end up in an unfavorable financial situation where your business livelihood is potentially on the line. We’re going to explore what you need to know about farm machinery insurance over the course of this guide, including the best farm tractor insurance companies and what you can expect to pay, aka your farm tractor insurance cost.

Farm Tractor Insurance

Agriculture tractor insurance is by far the most common type of agricultural machinery insurance. Due to their versatility, tractors tend to be the most common vehicles that are used on farms, and this makes tractor insurance a very lucrative industry because it’s something that almost every farmer needs.

There are many different forms of tractor insurance for farmers, but most business insurance policies include at least some form of liability coverage. Keep in mind that this isn’t the kind of general liability coverage that a business needs but rather commercial vehicle insurance. These policies can also come included with collision coverage in case you drive your tractor on roads as well as comprehensive coverage in case of fire or theft.

You still might want to get yourself bobtail insurance as the above policies will not cover your farm tractor when its driving without load or trailer, while bobtail insurance policy will. And it is also required by some motor carriers.

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farm tractor

What is Covered by Tractor Insurance?

Like with heavy equipment insurance and heavy machinery insurance, exactly what is covered by your policy depends on the kind of farm equipment insurance coverage options you have. In most cases, a basic liability policy will cover you from damage incurred to other people’s property as well as bodily injury caused by your farm tractor, skid steer or any other type of farm equipment that your business operates.

Farm Tractor Insurance Cost

Typically, the average farm tractor insurance cost is about $750 per month, or $8,500 per year.

However, there are several factors that go into determining how much your farm tractor insurance will cost. First and foremost, the tractor model that you’re trying to insure and the number of tractors you have on your farm will have the biggest impact on your insurance premiums.

Your rates will also be dependent on your farm’s safety record. If you have a history of accidents on your farm, then you will have a much higher rate because of the significant risk that the carrier is taking when they offer you agricultural equipment insurance.

You’ll also have to work out how high your deductible is, as a higher deductible will cut down on the cost of your insurance premium because it lessens the chances of you using the policy for more minor repairs. Taking out a higher deductible is like gambling that you won’t need to use your insurance policy.

As we’ve discussed, many tractor insurance policies are only available as part of a blanket farm insurance policy, and this will understandably result in much higher premiums because of the wider range of things that are covered by a blanket policy.

CompanyCost per monthCost per year
American Family$415$4980
Shelter Insurance$450$5400
Farm Bureau Financial Services$390$4680

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Best Farm Tractor Insurance Companies

If you’re looking for agriculture tractor insurance online, then you’ll need to know a few things about the insurance carriers that offer policies covering these vehicles. Each of the following companies offers their own form of tractor insurance, and they each have their own areas of specialization.

Progressive Farm Tractor Insurance

There are a few different kinds of vehicles that progressive does not insure because of their lack of specialization in that particular area. 

Unfortunately, farming tractors are included in the list of vehicles that Progressive does not offer commercial auto insurance for, so you will be unable to get a package deal on your tractor if you already work with Progressive.

Farm Tractor Insurance Geico

While Geico doesn’t outright refuse to insure farm tractors like Progressive, they tend to handle tractors on a case by case basis. If you’re interested in learning whether or not Geico will insure your tractor, we recommend getting in touch with one of their agents to determine if they can work with you.

American Family Tractor Insurance

American Family is one of the best companies to work with if you’re trying to ensure modern farming equipment and tractors. This is because the company typically works with gear that’s under a decade old, and they offer a wide range of add-ons for their farming equipment coverage so that you’re fully protected.

Trusted Choice Tractor Insurance

Trusted Choice is a platform of independent insurance agents who work with you to find the best farm tractor insurance rates. Working with a company like Trusted Choice is often a good idea if you’re looking for niche insurance like agricultural equipment coverage because they help take some of the guesswork out of finding a carrier.

Shelter Insurance Tractor Insurance

Shelter Insurance knows what they’re doing when it comes to insuring tractors, and this is made obvious by how they cover relatively specific occurrences like lightning strikes and broken cabin glass. Unfortunately, Shelter Insurance won’t cover rented farming equipment, so you’ll have to own your tractor.

Farm Bureau Financial Services Tractor Insurance

Farm Bureau Financial Services offers policies that are specifically tailored for the farmers buying them. They will go over how you use your farm tractor with you and draw up a policy that excludes everything you don’t need. This makes them an excellent choice for farmers looking to save money.

Nationwide Tractor Insurance

Nationwide offers some of the most versatile tractor insurance on the market, and they will cover a wide range of vehicles, including rented tractors. Unfortunately, Nationwide doesn’t offer specific policies for tractors, but they are instead included in their AgriChoice blanket coverage for farms.

Travelers Tractor Insurance

Much like Nationwide, Travelers also offers blanket coverage for farmers, which is great if you have no insurance for a new farm but not so great if you’re just looking to insure a single tractor. However, they make up for it by offering an add-on that will pay out if your farming operations are ever disrupted.

AG360 Tractor Insurance

AG360’s tractor insurance add-on is only available in Kansas, and it’s offered as an addition to their blanket farm coverage instead of as an individual policy. This kind of coverage will protect you from things like lost income during tractor repairs, and their coverage will also kick in in case of equipment breakdown.

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