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Tractor Insurance: Cost, Companies, Quotes From Only $5 & More

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If you own a small business that utilizes one or more tractors, then you would be smart to have it covered with a tractor insurance policy. These are essentially comprehensive commercial auto insurance policies that are specifically designed to cover various types of tractors.

Whether you own a small farm tractor, a large tractor-trailer, or you own a whole fleet of semi-trailers and trucks, all states require drivers to maintain an insurance policy to drive on the road. Even if you just own a small agricultural tractor for farm use, it’s still a good idea to get it insured to protect it from theft or physical damage.

In this article, we’re going to explain everything that you ever wanted to know about tractor insurance. We’ll help you get some cheap tractor insurance quotes online more easily by clicking the 'Get Quotes' button from this page, show you the average cost of insuring different types of tractors, and answer some commonly asked questions. Lastly, we’ll provide you with a list of the best tractor insurance companies on the market and our Insuranks review of each.

It’s tractor time!

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Tractor Insurance Coverage: Why You Need It

Tractor insurance is a policy that protects you and your trucks in the event of an accident or a worst-case scenario. Generally speaking, tractors are large, and when driving them at highway speeds, they can be just as dangerous as a derailed train. All it takes is one small mistake behind the wheel to send a 20,000-pound tractor-trailer careening into other cars, causing significant property damage, bodily injury, and possibly even death.

As such, all tractors on the road are required to maintain a commercial tractor-trailer insurance policy. Apart from the fact that tractor-trailers and semi-trucks can cause massive accidents, an insurance policy will also protect your tractor from things like theft, damage from bad weather, or even a stray deer running out in the road and denting the front end.

The one exception to this rule are farm tractors. As long as you aren’t taking your tractor on the road, then you technically aren’t required to have insurance. However, even then, it’s still a good idea to purchase a basic heavy equipment insurance policy to protect your investment from random mishaps or accidents.

Physical Damage Insurance for Tractors

All commercial auto insurance policies cover physical damage insurance for tractors. Whether the damage comes from severe hail, another vehicle crashing into your tractor, vandalism, or even an error on the part of the driver, all physical damage should be covered by your commercial policy’s property damage liability clause.

Can I Get Temporary Tractor Insurance?

Suppose you’re just renting a tractor or tractor-trailer for a short-term job. In that case, most tractor insurance providers are more than willing to provide you with temporary tractor insurance or 1-day tractor insurance. This is commonly referred to as “on-demand insurance” and is designed to cover your tractor for a specific date range.

Generally speaking, it’s a little bit more expensive per day than a regular full-term insurance policy. However, if you’re just using the tractor for a quick job, it will save you a lot of money compared to purchasing a full-term policy.

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Common Types of Tractor Insurance and Terms

Now, let’s take a look at some of the most common types of tractor insurance that you may need to discuss with your insurance agent. Before we begin, though, we figured that it would be a good idea to give you a quick breakdown of what exactly is covered by tractor insurance so you can better understand the terminology that we’ll be using throughout the rest of the article.

  • Bodily Injury Liability: This is the most basic type of coverage that all auto or tractor insurance policies cover. It provides coverage for bodily injury sustained by other drivers if your tractor is found to be at fault in an accident.

  • Property Damage Liability: Property damage liability protects you from being financially liable for property damage to other drivers’ vehicles or surrounding property such as buildings, homes, mailboxes, or signposts.

  • Comprehensive Coverage: This covers out-of-the-ordinary incidents such as theft, extreme weather damage, vandalism, falling objects that damage your tractor, collisions with animals or objects on the road, loss of control of the vehicle, and more.

  • Uninsured/Underinsured Motorist Coverage: This type of coverage insures you in the event that the other driver does not have an auto insurance policy or does not have enough insurance coverage to cover the damage sustained by your tractor. Uninsured/underinsured motorist coverage will “fill in” and pay the extra amount required to repair your tractor or even pay for personal injury.

  • Personal Injury Protection: This provides additional coverage to pay for the tractor driver’s injuries if they’re sustained during an at-fault accident or due to a comprehensive accident such as losing control of the vehicle or hitting an object in the road.

  • Rental Coverage: If you’re transporting a load, then it’s vital for the shipment to get to its destination on time. Rental coverage will help to cover the costs of renting another tractor for a certain period of time while your damaged tractor is being repaired. This allows you to continue on with your transportation or farming work unhindered.

Now that you have a better understanding of the common insurance terms that we’ll be using throughout the rest of the article let’s take some time to break down the different types of tractor insurance and the types of coverage that are most necessary for each.

Tractor-Trailer Insurance

Tractor-trailers are tractors that are carrying a trailer behind them. When the tractor-trailer is being driven, both the tractor and the trailer are usually insured under the same commercial auto insurance policy. As you can imagine, this means that you’ll need to purchase higher coverage limits that are capable of paying for damage to both the tractor and the trailer if you’re involved in an accident. 

Tractor Insurance for Road Use

When you’re looking at your tractor-trailer insurance coverage policy, you may notice that you’re paying extra for “tractor insurance for road use.” Don’t be alarmed, though; this is standard in almost all tractor insurance policies. If you’re driving your tractor or tractor-trailer on public roads and highways, this clause provides the necessary protection that you need to drive in public legally. 

Semi-Tractor Insurance

Semi-tractors are the same thing as tractor-trailers. In fact, the actual term for the combination of a tractor and a trailer is technically worded as a “semi-tractor-trailer truck.” However, depending on the area you live in and the insurance company you’re working with, semi-tractor insurance and tractor-trailer insurance may be used interchangeably. Ultimately, though, they’re all just words used to describe the same commercial tractor insurance policies.

Farm Tractor Insurance

If you have a small farm tractor, then you’ll likely just need to purchase a small tractor insurance policy. Agriculture tractor insurance is typically a lot more affordable than commercial tractor-trailer insurance as the vehicles are usually operating in wide-open fields or on private property. If your tractor is going to be driving on public roadways from time to time, though, you may be required to purchase additional coverage limits and pay a little bit extra.


Read more: Excavator Insurance


Tractor Insurance Cost

At this time, you’re probably wondering about tractor insurance rates and what you can expect to pay for different levels of coverage. In this section, we’ll break down the average tractor insurance price that you should budget for, depending on the type of tractor you’re driving.

However, the general average tractor liability insurance cost is $55 per month - or $650 per year for general liability coverage.

We’ll also include some cheap tractor insurance quotes from some of the top insurers in the nation.  On the other hand, if you’re tired of reading, and you’re ready to see your personalized tractor insurance quotes, simply click the ‘Get Quotes’ button below to be matched with affordable commercial insurance policies for your tractor-trailer, compact trailer, or agricultural tractor today!

Tractor Insurance 1-Year Price

If you’re just getting into the trucking business, then you’re probably wondering about the average amount you’ll be required to pay for a full-term 1-year tractor insurance policy. Generally speaking, tractor insurance companies charge about $8,350 per year on average for a comprehensive commercial trucking insurance policy. However, general liability insurance for tractors will cost only $650 for a 1 year period on average. Ultimately, the price you’ll pay depends heavily on your experience as a truck driver, your accident history, the type of tractor you’re driving, what state you primarily operate out of, and how many miles you drive per year. Here's a breakdown by coverage type:

Coverage1 Year Price
Primary Liability$8,348
General Liability$650
Physical Damage$1,920
Bobtail Insurance$360
Umbrella$596
Uninsured/Underinsured Motorist$75
Cargo$800

Tractor Theft Insurance

As long as you purchase a comprehensive tractor insurance policy (as described above), then it should include tractor theft insurance. Thankfully, this doesn’t occur too often, but if it ever does happen, your comprehensive tractor theft insurance policy can save you tens of thousands of dollars!

Tractor-Trailer Insurance Cost

Commercial tractor-trailer insurance is probably the most common type of tractor insurance issued by insurers. The trucking, logistics, and transportation industry is bigger than ever thanks to large companies like Amazon that offer overnight delivery for everyday consumer items. On average, semi-truck and tractor-trailer insurance cost is around $8,350 per year.

Cheap Tractor-Trailer Insurance Quotes

Given that tractor-trailer insurance is the most common type of coverage purchased by truckers, we figured that it would be a good idea to find you some cheap tractor-trailer insurance quotes as provided by major insurers.

Insurance ProviderAverage Monthly RateAverage Annual Rate
Geico$856$10,274
Progressive$777$9,327
AXA Insurance$839$10,065
State Farm$657.50$7,890
ACKO Insurance$676$8,110
USAA$566$6,785
Liberty $720$8,639

The numbers obtained above are an average taken from consumer insurance data, including new tractor insurance rates, used tractor insurance rates, experienced truckers, and first-time truckers. That being said, keep in mind that the rates you’ll pay probably won’t match up exactly to the table above. As we discussed, many different factors contribute to the tractor insurance rate you’re quoted.

Ultimately, the best way to get cheap tractor-trailer insurance that you can afford is to shop around and compare quotes from different insurance companies. The insurance industry is easily one of the most competitive markets in the world. As such, insurers are constantly fighting for customers’ business, and by letting them know that you’re comparing quotes, you’ll ensure that you’re getting the best deal.

To start comparing quotes today, click the ‘Get Quotes’ button below! After entering some basic info on your tractor and business operations, you’ll receive cheap insurance quotes online from top tractor insurers, so you can choose which company best suits your commercial needs and your budget!

Farm Tractor Insurance Rates

Farm tractor insurance costs a lot less than tractor-trailer insurance. In fact, if you’re just using your farm tractor on your home property, then you can usually get it covered under your home property insurance. However, home insurance coverage can have higher-than-average deductibles, which could leave you in hot water if something ends up happening to your tractor.

For this reason, it’s always a good idea to purchase a simple farm tractor insurance policy. For the most part, the average farm tractor insurance rates are $8,500 per year or about $750 per month. You will be smart, however, to compare quotes online in order to get the best deals!

Compact Trailer Insurance Cost

A compact trailer is a trailer that is considerably smaller than what you’d see on a typically semi-tractor-trailer setup. Common examples of compact trailers could include:

  • Box trailers.

  • Open equipment trailers.

  • Dump trailers.

  • Tow-behind campers.

Most of the time, your compact trailer should be covered by your personal or commercial auto insurance policy. However, this only protects it while it’s attached to your truck or tractor and you’re driving on the road. It’s never a bad idea to purchase additional coverage for your trailer to cover it in the event of theft, weather damage, or vandalism.

On average, compact trailer insurance cost is $375 per year, making it quite affordable for the coverage you’ll get. 

Sub-Compact Trailer Insurance Cost

While we’re on the topic of compact trailers, then we might as well mention what you can expect to shell out to insure a sub-compact trailer. These are typically ultra-small trailers that can be used to tow around small equipment or haul junk. Sub-compact trailers are often towed by small sedans, farm tractors, or even contractors who need to carry extra equipment to and from their job site. 

Sub-compact trailer insurance costs typically range between $98 and $145 per year, making them incredibly affordable to insure. 

Best Tractor Insurance Companies

If you’ve made it this far, congratulations! You’re practically a tractor insurance expert. You should now be armed with all of the knowledge you need to understand the policies outlined by major insurance providers, so you’ll never be left in the dark regarding your policy’s fine print. Now, it’s time to take a look at some of the top tractor insurance companies on the market. 

To get your free, customized tractor insurance quotes from top insurance providers, simply click ‘Get Quotes’ below! After filling out some basic information, you’ll receive competitively-priced quotes that most insurance agents won’t tell you about upfront, allowing you to save BIG on your tractor insurance policy. 

Whether you’re looking for farm tractor insurance companies or tractor-trailer insurance companies, we’ve provided a brief review of some of the most popular insurance providers below. After using our free quote generator, it’s likely that several of these companies will try to contact you offering a cheap tractor insurance quote, so it’s a good idea to know who you’re dealing with. 

Let’s take a look! 

Kubota Insurance

In addition to manufacturing some of the world’s most versatile, high-tech tractors, the company also provides Kubota tractor insurance coverage for all of its tractors. Unfortunately, you won’t be able to insure your non-Kubota tractor, but if you do own one, you’ll get an amazing deal on your farm tractor or commercial tractor insurance policy. 

Kubota Insurance Cost

Kubota tractor insurance is officially handled by Kubota’s subsidiary KTAC (Kubota Tractor Assurance Corporation). The average KTAC insurance cost is $1.25 per $1,000 value increment on the tractor per month for general liability insurance coverage. In more direct terms, this means that you would pay $12.50 per month to insure a $10,000 tractor or $25 per month to insure a $20,000 tractor. 

Pros:

  • Affordable insurance for Kubota tractors.

  • Easy-to-understand pricing.

  • Fair customer service.

Cons:

  • Not available for non-Kubota tractors.

Best For: Kubota tractor owners.

Rating: 4/5 

John Deere Insurance

John Deere tractor insurance provides simple, easy, and incredibly affordable tractor insurance for John Deere tractor owners. If you have a John Deere tractor, then this is easily the cheapest farm tractor insurance policy that you’ll find on the market. Their low cost of coverage is due to their confidence in the quality of engineering and the low chance of comprehensive claims being made. 

John Deere Tractor Insurance Cost

On average, John Deere tractor insurance cost is $35 per month for general liability, depending on the type and value of the tractor you own. 

Pros:

  • More affordable farm tractor insurance than most providers. 

  • Great customer service and claims service reviews. 

Cons:

  • Not available for other tractor brands. 

Best For: John Deere tractor owners. 

Rating: 4.5/5

Tractor Insurance Geico

Geico is the second-largest insurance company in the United States and they provide everything from home and auto insurance to tractor truck insurance. Whether you’re insuring a large dump truck for your commercial construction business or a semi-tractor trailer, Geico has you covered with affordable, comprehensive policies designed for all truckers. 

Pros:

  • Immediate proof of insurance coverage. 

  • File claims and manage your policy through Geico’s easy-to-use app. 

  • Insure anything from a small farm tractor to a large semi-tractor. 

Cons:

  • Customer service ratings aren’t always the best. 

Best For: Part-time or full-time trucking/logistic company owners. 

Rating: 4/5

Tractor Insurance Progressive

Progressive is another large U.S.-based insurance provider. They have built an excellent reputation for providing friendly customer service, and offer great deals on bundling your insurance policies. This makes them a great option if you already own a Progressive home, auto, or business insurance policy.

Progressive Farm Tractor Insurance Cost

In addition to insuring large tractor-trailers, Progressive can also provide you with a basic liability or physical damage insurance policy for your farm tractor. On average, Progressive farm tractor insurance costs about $748 per month, depending on the type of tractor you drive and other factors. 

Pros:

  • You can bundle all Progressive policies and save money. 

  • Insure small farm tractors or semi-trucks. 

  • Superb customer service. 

Cons:

  • Sometimes the claims process can be lengthy. 

Best For: At-home farm tractors or truckers who own their own semi-tractor-trailer. 

Rating: 4.5/5

Mahindra Tractor Insurance

Mahindra dominates the global tractor market and is headquartered in India (where tractors are literally everywhere). In addition to manufacturing and shipping high-quality agricultural equipment and tractors around the world, they also happen to have one of the world’s best farm tractor insurance companies. Mahindra offers special rates on insuring Mahindra tractors that you won’t be able to get through most normal insurance agencies. 

Mahindra Tractor Insurance Price

The average Mahindra tractor insurance cost is $76 per month for commercial general liability insurance coverage, depending on the value of your Mahindra tractor and other risk factors. 

Pros:

  • Insurance directly from the manufacturer. 

  • Low-cost policies for both cheap and expensive tractors. 

Cons:

  • Call wait times to make a claim can be very long. 

Best For: Mahindra tractor owners.

Rating: 3.8/5

AXA Tractor Insurance

AXA is a British multinational insurance provider that specializes in providing commercial liability policies for a number of different industries. Overall, they’ve received excellent reviews in regards to their customer service, professionalism, and ability to handle claims quickly and easily. This makes them an obvious choice for those who own large trucking and logistics companies and a fleet of tractor-trailers. 

Pros:

  • Great reviews for claims handling and professional service. 

  • Competitive rates for large commercial trucking companies. 

Cons:

  • As AXA specializes in commercial policies, they’re not a great choice for small farm tractors or other personally-owned vehicles. 

Best For: Logistics companies that need to insure a larger fleet of tractor-trailers. 

Rating: 4/5

State Farm Tractor Insurance

State Farm is the largest insurance company in America (by volume) and is one of the most popular semi-tractor-trailer insurance companies on the market. In addition to insuring larger trailers, though, they’re more than willing to insure small tractors, compact trailers, and any other farm equipment that you may have. State Farm actually started their company by only providing farm and farm equipment insurance in the early-1920s, so they’re used by many large farms throughout the American Midwest. 

Pros:

  • Long history of insuring farm equipment and tractors. 

  • Amazing ratings for customer service and claims handling. 

  • Affordable rates and policy bundling available. 

Cons:

  • The underwriting process can be somewhat lengthy when purchasing coverage. 

Best For: Farmers who need to insure farm equipment/tractors or small trucking companies. 

Rating: 5/5

ACKO Tractor Insurance

ACKO is one of the newest players on the insurance scene and they specialize in providing commercial vehicle insurance to truckers and logistics companies. What sets ACKO apart from most insurers is the fact that their entire insurance company is online-based. While this means that you’ll save money on premiums compared to other larger insurance companies, it also means that the claims process can be more difficult. 

Pros:

  • Affordable insurance coverage thanks to ACKO’s online-only business model. 

  • They specialize in commercial auto insurance.

Cons:

  • Getting in touch with a real agent can be difficult.

Best For: Small trucking companies that own less than 3 tractor-trailers or commercial vehicles. 

Rating: 3.5/5

USAA Tractor Insurance

Whether you’re in need of single tractor insurance or you need to insure an entire fleet, USAA is easily one of the best tractor insurance companies in the United States. They have the most affordable rates in the country, outstanding customer service, and are easy to get in touch with. The only caveat is that USAA is only available to active or retired members of the United States military and their immediate family members (spouses and children). 

Pros:

  • Incredible rates on tractor insurance or large commercial vehicle insurance policies. 

  • Great customer service ratings. 

  • Easy to get in touch with about claims or help. 

Cons:

  • Only available to members of the U.S. armed forces and their families. 

Best For: Veterans who own trucking companies or need to insure a farm tractor. 

Rating: 5/5

Tata AIG Tractor Insurance

Tata is another large automaker based out of India and is Mahindra’s direct competitor. Tata manufactures a number of farm tractors, semi-trucks, and even compact trucks. Tata’s insurance subsidiary company is Tata AIG, which provides affordable insurance coverage for all Tata tractors or full-sized trucks. 

Pros:

  • Affordable insurance for Tata tractors and trucks. 

  • Insurance directly from the manufacturer. 

Cons:

  • Not available for non-Tata tractors. 

Best For: Tata tractor or truck owners. 

Rating: 4/5

Farm Bureau Tractor Insurance

Farm Bureau Financial Services is a large insurance company based out of Des Moines, Iowa. They started in 1939 by providing specialized insurance policies to farmers in Iowa. Since then, they’ve expanded the types of insurance coverage that they offer and provide coverage across the United States. 

Pros:

  • Great customer service. 

  • Specializes in commercial auto insurance and farm tractor insurance policies. 

  • Affordable rates and policy bundling available. 

Cons:

  • The claims process can be somewhat lengthy. 

Best For: Farmers who need to insure tractors or small logistics companies. 

Rating: 4/5

Liberty Tractor Insurance

Liberty Insurance offers coverage for every type of personal property or business you might have. So whether you need to insure small farm equipment and tractors or large commercial semi-trucks, Liberty makes the process of applying for insurance incredibly easy. Additionally, you’ll be able to build your own policy from the ground up, adding on whatever coverage you need. This is made evident by the company’s slogan, “You only pay for what you need.”

Pros:

  • Affordable insurance policies for all companies.

  • Build your own policy from the ground-up.

  • Easy application process for coverage.

Cons:

  • You may need to double-check your policy to make sure that you have all of the coverage you need. 

Best For: Small to mid-sized trucking companies or small farmers.

Rating: 4.5/5

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