Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Farming Base (farmingbase.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. This site also participates in other affiliate programs and is compensated for referring traffic and business to them.

If you already have a tractor, then it’s important to have a policy that will cover your tractor against damages suffered. In 2021, most tractor owners are insuring their tractors against any possible damages. They’re also going for third-party liability coverage, where damages caused by tractors are also compensated.

You will need tractor insurance. Under the Motor Vehicle Act, it’s mandatory to cover your tractor. In 2021, the cost of tractor insurance is estimated at $5,000 – $12,000 per year.

Tractor insurance always comes in handy. For instance, if you were to get into an accident or if your tractor is stolen, the insurance company will help you cover the expensive cost to repair or replace your tractor.

This article will provide you with all the necessary information about tractor insurance. You’ll understand why you need tractor insurance and whether you need it to drive your tractor on the road. At the end of this article, we’ll discuss the best tractor insurance companies to consider. Let’s begin!

Do You Need Tractor Insurance?

Just as your car needs auto insurance before going out on the highway, your tractor needs to be properly insured before you even take it out for a spin.

You’ll need tractor insurance to protect you and your family from costly repair bills.

The insurance will help pay for repairs if your tractor breaks down or is involved in an accident. And also, if you are found liable for damage to someone else’s property, the insurance can cover you.

Insurance can also step in for you or your family member if you’re injured from falling off while operating the tractor, having a toe crushed, or even worse.

Without tractor insurance, you could end up paying thousands of dollars in repair or hospital bills.

Also, you’ll need tractor insurance to secure your tractor against theft, wretch, accidental or malicious damage, even if your tractor is solely for use in your own land.

A tractor can tip over while lifting or carrying heavy loads, it can get crushed by falling trees and falling debris, and it can also catch fire.

On the other hand, there’s no legal requirement to ensure a tractor under certain circumstances, especially one that is purely used for agricultural purposes on your own farm.

But given the possibilities of the damage your tractor could do to someone else’s property, tractor insurance is still an excellent idea.

Do You Need Insurance to Drive Your Tractor on the Road?

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Definitely, it would help if you had insurance to drive your tractor on the road. While driving your tractor on the road, you might face liability, for example, accidentally hitting a passer-by.

If you are a farmer, you should check your insurance policy to include coverage for driving a tractor off the farm property.

It would be best if you had fully comprehensive insurance to claim insurance in case you cause an accident using your tractor on the road. Under comprehensive insurance, you’ll have public liability cover to secure your tractor while on the highway.

However, to get compensated, you’ll need to ensure that your tractor is road legal with headlights, indicators, number plates, and road tax.

Is Tractor Insurance Mandatory?

There’s no legal requirement to ensure a tractor under certain circumstances, especially one that is purely used for agricultural purposes on your own farm. However, having at least third-party liability tractor insurance is mandatory as per the Motor Vehicle Act.

This financially covers you from any losses and damages caused to a third-party due to a tractor owned by your business.

How Much Does it Cost to Insure a Tractor?

The tractor insurance price depends majorly on two factors: your state of residence and your tractor’s value.

However, below is an average estimation for tractor insurance cost;

Primary liability – $5,000-$12,000 per year

General liability – $500-$800

Physical damage – $1,000-3,000

5 Best Tractor Insurance Company

There are many ways that your tractor could be damaged or cause damage to another person or their property.

In fact, tractor accidents are the leading cause of death and disabling injury on U.S farms. This was in line with a report by the U.S. Department of Labor,

Tractors can be extremely dangerous. They can cause hundreds of fatalities and thousands of injuries every year.

An accident can happen in the blink of an eye even if you try to take major precautions by using all available safety features and giving careful attention to your surroundings. That’s the reason why you’ll need a reliable tractor insurance policy.

Below are the 5 best tractor insurance companies that will provide you coverage at affordable prices.

1. Kubota Tractor Insurance

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Everything about Kubota Tractor Insurance

Kubota tractor insurance will provide you with incredible services such as protection on and off your property, equipment replacement, convenient payment option, and low deductible.

What does it cover?

Protection on and off the property

The protection on and off the property policy offers you broader protection for your tractor. Besides, this policy protects equipment that is often excluded from your homeowner’s policy.

Kubota tractor insurance will give you coverage on and off your property. This means the policy covers your tractor when it is away from your property and while it’s being transported. The coverage is known as comprehensive equipment protection through KTAC. The policy covers;

  • Theft
  • Fire
  •  Accidental damage
  • Rollover
  • Breaking of glass
  • Falling objects
  • Collisions
  • Vandalism
  • Water damage

Also, under comprehensive equipment protection, the company insures your tractor against damages that you would normally think of like acts of God. These things include;

  • Earthquake
  • Hurricanes
  • Tornadoes
  • Hails
  • Floods

Equipment replacement policy: Under this policy, the company will give you back the tractor’s initial purchase price and start again with brand new equipment. However, it would be best if you encountered a total equipment loss to qualify for the policy.

Low deductibles: under this policy, a low $250 deductible will apply to a loss.

On the other hand, some things are not covered in the policy. The exclusions include, but not limited to;

  • Loss/damage by fraudulent activities
  • Government action or seizure by a government authority
  • Mechanical breakdown
  • Wear and tear
  • Nuclear accidents
  • War
  • Terrorism

How Much Does it Cost?

Kubota tractor insurance cost $407 per year

2. Tractor Insurance Geico

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Everything about Geico Tractor Insurance

Geico insurance company has been in business since 1936 and takes great pride in being a leader in the industry. The company offers incredible services, prices, and protection for your home, business, and all other things that move you.  

What does it cover?

Geico insurance company offers most of the coverage options that are pretty much in line with what other auto insurance companies offer. However, they may vary by state or by vehicle.

Here is what Geico tractor insurance offer:

  • Collision and comprehensive cover
  • Bodily injury and property liability coverage
  • Uninsured and underinsured liability coverage
  • Medical payment and personal injury protection coverage

Additional coverage policy includes;

Mechanical breakdown insurance (MBI): this coverage covers repairs to mechanical components such as the engine and transmissions. However, the policy does not cover diagnostic measures fees if your vehicle is not found to have a mechanical failure.

Rideshare insurance: This coverage ensures you are driving either during work or for pleasure on the road.

Emergency road service: under this service, Geico will assist in the event of a roadside emergency, such as flat-tire services and locksmith charges.

Accident forgiveness: Under the accident forgiveness policy, your auto insurance rates will not increase after your first at-fault accident.

Glass coverage: glass coverage policy will waiver your deductible for comprehensive claims for glass repair.

Rental reimbursement: under this policy, the Geico will cover you for a rental tractor’s cost if you cannot drive your tractor for more than 24 hours.

How Much Does it Cost?

  • Bodily injury liability – $50,000/$100,000
  • Property damage liability – $25,000
  • Comprehensive – $250 (suggested deductible)
  • Collision – $500 (suggested deductible)

3. Progressive Tractor Insurance

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Progressive commercial insure is the number one truck insurer in American. The progressive insurance company will be there with you, offering both state and federal filings for commercial trucks every step of the way.

Everything about Progressive Tractor Insurance

They offer affordable coverage for most commercial and tractor-trailer combinations. Under the tractor insurance policy, the company specializes in heavy track claims service and rental reimbursement with downtime.

As a top commercial truck insurance company, progressive insurance provides insurance coverage for step vans, delivery vans, flatbed trucks, front loaders, catering trucks, agriculture trucks, and tractors.

What does it cover?

Progressive tractor insurance offers affordable insurance options, from accidents and windshield damage to lawsuits and more. However, it is central to note that coverage offers may vary by state.

The following are some of the progressive insurance coverages;

Liability coverage

Liability coverage will pay for injuries or damages you cause while driving. This type of coverage protects you in two ways;

  1. Bodily injury liability: This policy will pay for someone else’s medical bills if you are liable for their injuries.
  2. Property damage liability: This will pay for damage caused to someone else’s property if you are liable.

Comprehensive policy

A comprehensive policy will protect your tract from events out of control. These events include fire, theft, and vandalism, hitting an animal, glass breakage, or acts of nature.

Collision coverage

Under this coverage, the insurance will pay to repair or replace your damaged tractor. However, the policy will only cover your tractor if you collide with another object such as a tree, guardrail, fence, or another vehicle.

Loan/lease payoff

If you lease or finance your tractor, lease payoff (also known as “gap insurance”) will cover the variance between what you owe on your tractor and what it’s actually worth. It can cover up to 25% of the actual cash value.

Custom parts and equipment value (CPE)

This coverage can repair or replace items that you add to your tractor, such as custom wheels or even a paint job, among others.

Roadside assistance

 The company’s roadside assistance policy pays for towering services if your tractor breakdown for any reason. It provides lock-out service, flat tire changes, fuel/fluid delivery if you run out of gas, and other related issues.

How Much Does it Cost?

  • Liability coverage – $100,000
  • Comprehensive coverage – $24 per month ($500 deductible)
  • Collision coverage – $65 per month

4. State Farm Tractor Insurance

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

State farm tractor insurance company has designed coverage policies to provide broad and flexible coverage for your personal and business needs.

Everything about State Farm Tractor Insurance

The company’s protection ranges from farm home and content, farm personal property, structures, or other buildings to liability protection.

It provides insurance protection to farm personal property such as farm machinery, grain, livestock, and farm tools you use in your farming operations.

What does it cover?

The state farm tractor insurance covers tractors and other farm ranch equipment in two ways: individual and blanket policy.

Under individual coverage, each piece of equipment is listed separately on the policies with its own value. On the other hand, under a blanket policy, everything is covered up to a designated amount.

The state farm tractor insurance covers;

Loss or damage on the tractor: under this policy, the insurance will cover damage or loss of your tractor caused by;

  • Fire
  • Damage during towering and hitching
  • Contact with the roadbed or ground
  • Glass breakage
  • Foreign object damage

Farm and ranch liability protection: the policy covers your legal liability up to the policy’s limits for damage because of bodily injury or property damage resulting from covered claims.

Mechanical breakdown insurance: under this policy, the insurance will cover repairs to mechanical components.

Comprehensive cover: will cover events out of your control, such as the acts of nature. These events include lightning, earthquake, wind, or flood.

How Much Does it Cost?

Estimated cost for tractor insurance – $3,000 per year

5. SBI General Insurance

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Everything about SBI General Insurance

Another best insurance company is SBI general insurance. The company has a policy designed to cover the compulsory Third Party Liability, together with loss or damage to the tractor itself. This is in line with the Motor Vehicle Act.

What does it cover?

Third-Party Liability: The policy protects against any legal liability arising out of the tractor’s use towards third parties arising on bodily injury to/on the death of a person and any damage caused to the third party property.

Loss or damage to the tractor: Under this coverage, the insurance covers against any loss or damage caused to the tractor or its accessories due to the following;

  • Fire, explosion, self-ignition, accidental damage by external means
  • Any damage in transit: road, rail, inland watery, lift, elevator, or air
  • Natural phenomenon: Lightning, earthquake, flood, typhoon, hurricane, storm, tempest,   inundation, cyclone, hailstorm, frost, landslide, or rockslide
  • Burglary, theft, riot, strike, malicious act and, terrorist activities

Personal accident cover: The insurance covers bodily injury/death caused to the tractor’s owner or driver. However, the compensation is payable depending on the nature of the injury sustained.

Additional legal liabilities: covers the driver employed to operate the tractor

Bi-fuel Kit: covers the CNG-LPG bi-fuel kit.

NCB protection: Under this cover, you can retain the existing NCB of the expiring policy at the renewal time.

Return on invoice cover, and Enhanced PA cover

On the other hand, there are various risks that the SBI tractor insurance company doesn’t cover. For instance, the insurance company will not cover any loss or damage to the tractor in the event of the following damage;

  • Normal wear and tear
  • The general aging of the vehicle
  • Depreciation or any consequential loss
  • Mechanical or electrical breakdown
  • Damaged caused by overloading or strain
  • Loss/ damage to accessories by burglary
  • Theft, unless such insured tractor is stolen at the same time
  • Tractor being used otherwise than per limitations as to use
  • Damage to/by a person driving the tractor without a valid license
  • Damage to/by a person driving the tractor under the influence of drugs or liquor
  • Loss/ damage due to war, mutiny, or nuclear risk

How Much Does it Cost?

Estimated cost for tractor insurance – $15 per $1,000 of the value of tractor (depending on your deductible)


Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Farming Base (farmingbase.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. This site also participates in other affiliate programs and is compensated for referring traffic and business to them.

If you already have a tractor, then it’s important to have a policy that will cover your tractor against damages suffered. In 2021, most tractor owners are insuring their tractors against any possible damages. They’re also going for third-party liability coverage, where damages caused by tractors are also compensated.

You will need tractor insurance. Under the Motor Vehicle Act, it’s mandatory to cover your tractor. In 2021, the cost of tractor insurance is estimated at $5,000 – $12,000 per year.

Tractor insurance always comes in handy. For instance, if you were to get into an accident or if your tractor is stolen, the insurance company will help you cover the expensive cost to repair or replace your tractor.

This article will provide you with all the necessary information about tractor insurance. You’ll understand why you need tractor insurance and whether you need it to drive your tractor on the road. At the end of this article, we’ll discuss the best tractor insurance companies to consider. Let’s begin!

Do You Need Tractor Insurance?

Just as your car needs auto insurance before going out on the highway, your tractor needs to be properly insured before you even take it out for a spin.

You’ll need tractor insurance to protect you and your family from costly repair bills.

The insurance will help pay for repairs if your tractor breaks down or is involved in an accident. And also, if you are found liable for damage to someone else’s property, the insurance can cover you.

Insurance can also step in for you or your family member if you’re injured from falling off while operating the tractor, having a toe crushed, or even worse.

Without tractor insurance, you could end up paying thousands of dollars in repair or hospital bills.

Also, you’ll need tractor insurance to secure your tractor against theft, wretch, accidental or malicious damage, even if your tractor is solely for use in your own land.

A tractor can tip over while lifting or carrying heavy loads, it can get crushed by falling trees and falling debris, and it can also catch fire.

On the other hand, there’s no legal requirement to ensure a tractor under certain circumstances, especially one that is purely used for agricultural purposes on your own farm.

But given the possibilities of the damage your tractor could do to someone else’s property, tractor insurance is still an excellent idea.

Do You Need Insurance to Drive Your Tractor on the Road?

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Definitely, it would help if you had insurance to drive your tractor on the road. While driving your tractor on the road, you might face liability, for example, accidentally hitting a passer-by.

If you are a farmer, you should check your insurance policy to include coverage for driving a tractor off the farm property.

It would be best if you had fully comprehensive insurance to claim insurance in case you cause an accident using your tractor on the road. Under comprehensive insurance, you’ll have public liability cover to secure your tractor while on the highway.

However, to get compensated, you’ll need to ensure that your tractor is road legal with headlights, indicators, number plates, and road tax.

Is Tractor Insurance Mandatory?

There’s no legal requirement to ensure a tractor under certain circumstances, especially one that is purely used for agricultural purposes on your own farm. However, having at least third-party liability tractor insurance is mandatory as per the Motor Vehicle Act.

This financially covers you from any losses and damages caused to a third-party due to a tractor owned by your business.

How Much Does it Cost to Insure a Tractor?

The tractor insurance price depends majorly on two factors: your state of residence and your tractor’s value.

However, below is an average estimation for tractor insurance cost;

Primary liability – $5,000-$12,000 per year

General liability – $500-$800

Physical damage – $1,000-3,000

5 Best Tractor Insurance Company

There are many ways that your tractor could be damaged or cause damage to another person or their property.

In fact, tractor accidents are the leading cause of death and disabling injury on U.S farms. This was in line with a report by the U.S. Department of Labor,

Tractors can be extremely dangerous. They can cause hundreds of fatalities and thousands of injuries every year.

An accident can happen in the blink of an eye even if you try to take major precautions by using all available safety features and giving careful attention to your surroundings. That’s the reason why you’ll need a reliable tractor insurance policy.

Below are the 5 best tractor insurance companies that will provide you coverage at affordable prices.

1. Kubota Tractor Insurance

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Everything about Kubota Tractor Insurance

Kubota tractor insurance will provide you with incredible services such as protection on and off your property, equipment replacement, convenient payment option, and low deductible.

What does it cover?

Protection on and off the property

The protection on and off the property policy offers you broader protection for your tractor. Besides, this policy protects equipment that is often excluded from your homeowner’s policy.

Kubota tractor insurance will give you coverage on and off your property. This means the policy covers your tractor when it is away from your property and while it’s being transported. The coverage is known as comprehensive equipment protection through KTAC. The policy covers;

  • Theft
  • Fire
  •  Accidental damage
  • Rollover
  • Breaking of glass
  • Falling objects
  • Collisions
  • Vandalism
  • Water damage

Also, under comprehensive equipment protection, the company insures your tractor against damages that you would normally think of like acts of God. These things include;

  • Earthquake
  • Hurricanes
  • Tornadoes
  • Hails
  • Floods

Equipment replacement policy: Under this policy, the company will give you back the tractor’s initial purchase price and start again with brand new equipment. However, it would be best if you encountered a total equipment loss to qualify for the policy.

Low deductibles: under this policy, a low $250 deductible will apply to a loss.

On the other hand, some things are not covered in the policy. The exclusions include, but not limited to;

  • Loss/damage by fraudulent activities
  • Government action or seizure by a government authority
  • Mechanical breakdown
  • Wear and tear
  • Nuclear accidents
  • War
  • Terrorism

How Much Does it Cost?

Kubota tractor insurance cost $407 per year

2. Tractor Insurance Geico

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Everything about Geico Tractor Insurance

Geico insurance company has been in business since 1936 and takes great pride in being a leader in the industry. The company offers incredible services, prices, and protection for your home, business, and all other things that move you.  

What does it cover?

Geico insurance company offers most of the coverage options that are pretty much in line with what other auto insurance companies offer. However, they may vary by state or by vehicle.

Here is what Geico tractor insurance offer:

  • Collision and comprehensive cover
  • Bodily injury and property liability coverage
  • Uninsured and underinsured liability coverage
  • Medical payment and personal injury protection coverage

Additional coverage policy includes;

Mechanical breakdown insurance (MBI): this coverage covers repairs to mechanical components such as the engine and transmissions. However, the policy does not cover diagnostic measures fees if your vehicle is not found to have a mechanical failure.

Rideshare insurance: This coverage ensures you are driving either during work or for pleasure on the road.

Emergency road service: under this service, Geico will assist in the event of a roadside emergency, such as flat-tire services and locksmith charges.

Accident forgiveness: Under the accident forgiveness policy, your auto insurance rates will not increase after your first at-fault accident.

Glass coverage: glass coverage policy will waiver your deductible for comprehensive claims for glass repair.

Rental reimbursement: under this policy, the Geico will cover you for a rental tractor’s cost if you cannot drive your tractor for more than 24 hours.

How Much Does it Cost?

  • Bodily injury liability – $50,000/$100,000
  • Property damage liability – $25,000
  • Comprehensive – $250 (suggested deductible)
  • Collision – $500 (suggested deductible)

3. Progressive Tractor Insurance

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Progressive commercial insure is the number one truck insurer in American. The progressive insurance company will be there with you, offering both state and federal filings for commercial trucks every step of the way.

Everything about Progressive Tractor Insurance

They offer affordable coverage for most commercial and tractor-trailer combinations. Under the tractor insurance policy, the company specializes in heavy track claims service and rental reimbursement with downtime.

As a top commercial truck insurance company, progressive insurance provides insurance coverage for step vans, delivery vans, flatbed trucks, front loaders, catering trucks, agriculture trucks, and tractors.

What does it cover?

Progressive tractor insurance offers affordable insurance options, from accidents and windshield damage to lawsuits and more. However, it is central to note that coverage offers may vary by state.

The following are some of the progressive insurance coverages;

Liability coverage

Liability coverage will pay for injuries or damages you cause while driving. This type of coverage protects you in two ways;

  1. Bodily injury liability: This policy will pay for someone else’s medical bills if you are liable for their injuries.
  2. Property damage liability: This will pay for damage caused to someone else’s property if you are liable.

Comprehensive policy

A comprehensive policy will protect your tract from events out of control. These events include fire, theft, and vandalism, hitting an animal, glass breakage, or acts of nature.

Collision coverage

Under this coverage, the insurance will pay to repair or replace your damaged tractor. However, the policy will only cover your tractor if you collide with another object such as a tree, guardrail, fence, or another vehicle.

Loan/lease payoff

If you lease or finance your tractor, lease payoff (also known as “gap insurance”) will cover the variance between what you owe on your tractor and what it’s actually worth. It can cover up to 25% of the actual cash value.

Custom parts and equipment value (CPE)

This coverage can repair or replace items that you add to your tractor, such as custom wheels or even a paint job, among others.

Roadside assistance

 The company’s roadside assistance policy pays for towering services if your tractor breakdown for any reason. It provides lock-out service, flat tire changes, fuel/fluid delivery if you run out of gas, and other related issues.

How Much Does it Cost?

  • Liability coverage – $100,000
  • Comprehensive coverage – $24 per month ($500 deductible)
  • Collision coverage – $65 per month

4. State Farm Tractor Insurance

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

State farm tractor insurance company has designed coverage policies to provide broad and flexible coverage for your personal and business needs.

Everything about State Farm Tractor Insurance

The company’s protection ranges from farm home and content, farm personal property, structures, or other buildings to liability protection.

It provides insurance protection to farm personal property such as farm machinery, grain, livestock, and farm tools you use in your farming operations.

What does it cover?

The state farm tractor insurance covers tractors and other farm ranch equipment in two ways: individual and blanket policy.

Under individual coverage, each piece of equipment is listed separately on the policies with its own value. On the other hand, under a blanket policy, everything is covered up to a designated amount.

The state farm tractor insurance covers;

Loss or damage on the tractor: under this policy, the insurance will cover damage or loss of your tractor caused by;

  • Fire
  • Damage during towering and hitching
  • Contact with the roadbed or ground
  • Glass breakage
  • Foreign object damage

Farm and ranch liability protection: the policy covers your legal liability up to the policy’s limits for damage because of bodily injury or property damage resulting from covered claims.

Mechanical breakdown insurance: under this policy, the insurance will cover repairs to mechanical components.

Comprehensive cover: will cover events out of your control, such as the acts of nature. These events include lightning, earthquake, wind, or flood.

How Much Does it Cost?

Estimated cost for tractor insurance – $3,000 per year

5. SBI General Insurance

Tractor Insurance: Do You Need It, is it Mandatory and How Much Does it Cost in 2021

Everything about SBI General Insurance

Another best insurance company is SBI general insurance. The company has a policy designed to cover the compulsory Third Party Liability, together with loss or damage to the tractor itself. This is in line with the Motor Vehicle Act.

What does it cover?

Third-Party Liability: The policy protects against any legal liability arising out of the tractor’s use towards third parties arising on bodily injury to/on the death of a person and any damage caused to the third party property.

Loss or damage to the tractor: Under this coverage, the insurance covers against any loss or damage caused to the tractor or its accessories due to the following;

  • Fire, explosion, self-ignition, accidental damage by external means
  • Any damage in transit: road, rail, inland watery, lift, elevator, or air
  • Natural phenomenon: Lightning, earthquake, flood, typhoon, hurricane, storm, tempest,   inundation, cyclone, hailstorm, frost, landslide, or rockslide
  • Burglary, theft, riot, strike, malicious act and, terrorist activities

Personal accident cover: The insurance covers bodily injury/death caused to the tractor’s owner or driver. However, the compensation is payable depending on the nature of the injury sustained.

Additional legal liabilities: covers the driver employed to operate the tractor

Bi-fuel Kit: covers the CNG-LPG bi-fuel kit.

NCB protection: Under this cover, you can retain the existing NCB of the expiring policy at the renewal time.

Return on invoice cover, and Enhanced PA cover

On the other hand, there are various risks that the SBI tractor insurance company doesn’t cover. For instance, the insurance company will not cover any loss or damage to the tractor in the event of the following damage;

  • Normal wear and tear
  • The general aging of the vehicle
  • Depreciation or any consequential loss
  • Mechanical or electrical breakdown
  • Damaged caused by overloading or strain
  • Loss/ damage to accessories by burglary
  • Theft, unless such insured tractor is stolen at the same time
  • Tractor being used otherwise than per limitations as to use
  • Damage to/by a person driving the tractor without a valid license
  • Damage to/by a person driving the tractor under the influence of drugs or liquor
  • Loss/ damage due to war, mutiny, or nuclear risk

How Much Does it Cost?

Estimated cost for tractor insurance – $15 per $1,000 of the value of tractor (depending on your deductible)