Insuring Antique Tractors?

Anybody out there have any thoughts on companies that will insure an antique tractor for more than actual cash value? Thanks!

Hagerty. Good people to work with. I insured a 36 JD B for $5500 and my premium was $140.00 a year

check with you insurance company to see if their is any coverage since you have them on your property/barn, etc.. then as stated, check with some of these antique car insurances that might cover tractors,,, we never think about our tractor, thinking that there are thiefs tnat will drive up and haul it away...

How are you going to establish actual cash value.
Can you get a insurance company to pay you more for an automobile than its worth?
I guess if one wants to pay an enormous premium on insurance, then maybe they will carry you.
People all the time want to know what a tractor is worth, It depends on a lot of factors

At least in my case I am covered without much extra cost. My insurer requires an appraisel at your expense and additional premium for that declared amount. My policy covers outbuildings and thier contents based on precentage of dwelling coverage. I added a very reasonably priced coverage of undeclared contents. If there is a loss,I must present an appraisel or other proof of value pertaining to anything above standard coverage. I simply had the contents appraised by an auction house specializing in farm and ranch sales. The advantage is that if I buy a tractor,I can drive by the auctioneer's place and have it appraised. If I have farm related equipment in a building at time of lose which hasn't been appraised,I will be covered because A> I have the purchase recipt and B> the value placed on the item by auctioneer after the lose will forfill my abligation of proving value. The advantage in the above approch apposed to making the declaration up front on the policy is A> less premium B>flexiability in the event an undeclared item is lost C> the ease of add/subtracting items/equipment for coverage.
Ok,I see Mr Heard And Mr Said coming this direction,hence "Your milage may Vary".

At $140.00 a year for insurance, wouldn't it cost more in several years than what you could get for the tractor?

Thanks for your reply. Some insurance companies will give agreed value on antique vehicles and I was hoping that there might be something similar out there for tractors. I'm not looking for a company to insure it for more than its worth - I'm just looking for them to figure the value considering the show condition and how much it would cost me to buy a similiar tractor as opposed to the value of the metal at a scrap yard.

Thank you! I actually do not have a farm but do have three antique tractors which are not covered under my homeowner's insurance. My concern is that if something happens to the building the tractors are in and they are damaged I will not be able to replace them.

Thank you, this is just what I needed!

And that's about where I'm at with mine. It's a lose lose proposition I guess ?
I'm in Ohio and they MAKE us have car insurance. That gets expensive too. I used to keep a winter beater around,but between liscence & ins. I'm just letting my nice car rot from the states road salt.

Try Shelter Ins......

I insure mine through hagerty.You can set the value without an appraisal.

Cincinnati Insurance has all my policies. They never questioned the value I placed on my retired Farmalls. I might move everything to State Farm.

I have homeowners insurance (I do not farm) that has replacement value coverage.I guess I would have to find a comparable one to replace it. I have not had to test it. Hope it works if needed.

I have the ones I show insured through Hagerty, who specialize in collector vehicles. Never had a claim, but they have a good reputation. You do have to submit pics and select a value on it. While your auto insurance may cover a trailer attached to you vehicle, it won't cover trailer contents, i.e. the tractor. Having insurance on a tractor also gives you some coverage at a show in this suit-happy world. Others are used on my farm and covered by my farm policy.

Went with Hagerty a few yrs.ago. No hassel at all with the insured amount . We have about 17 insured with them, including garden tractors.clint

$140.00 a year for a valuation of only $5500.00??? Is this tractor only hauled to shows? Or is it working for it's keep? No wonder that company is in the insurance business...and friendly to boot.
LA in WI

In Iowa I use IMT with a seperate policy for my tractors. I insure 2 tractors plus have liability coverage for less than $100 a year. They let me pick my replacement dollar amount, but you pay something like $1 per year for every $100 insured.

Also I see a few mention their homeowners insurance has them covered, but I too am a city dweller and don't farm and my homeowners will have nothing to do with my tractors so I have to carry the extra insurance. I would double check with your agent if you think you are covered by your homeowners exclusivly.