Everything You Need to Know About Tractor Insurance

If you’ve recently purchased a new tractor you may be on the hunt for an insurance policy to help protect your investment. However, relevant information on tractor insurance can be hard to find. Thankfully we’ve put together the handy guide below to help you select the perfect policy for you and your farm. 

Why Buy Tractor Insurance?

While purchasing tractor insurance isn’t required by law, it’s often a helpful resource to have on hand. Tractors are extremely expensive pieces of equipment, and even small damages can result in expensive repairs and lost wages while your machinery is out of commission. With an insurance policy, your repair bill will not only be covered by your agency but you can also opt-in for special coverage to reimburse you for lost time as your equipment is repaired. 

Where Can I Find Tractor Insurance? 

Despite what you may think, finding an agency that offers tractor insurance is pretty easy! Because these machines are so expensive, financing a tractor is a pretty common occurrence, and most lenders require you to purchase some kind of insurance for your equipment before signing over your loan. As a result, tractor insurance agencies are a lucrative business model, and there are plenty to pick from.

If you choose a lender that specializes in agricultural equipment, you may be able to purchase policies for your other machinery as well and receive a helpful bundling deal. Or, if you already have car or home insurance with another company, you can call your agent to inquire about tractor insurance and receive a bundling discount that way. However, it’s important to note that smaller farm-focused agencies often have better coverage options for farm-related emergencies, while larger companies tend to offer better rates. Before choosing one or the other, we strongly advise researching options in your area to see what’s available. 

Here at Desert Greens Equipment, we provide a number of convenient tractor services you’re welcome to take advantage of. While we don't offer insurance policies, both of our locations in Albuquerque and Belen, New Mexico have helpful parts departments, service centers, and financing options if you’re interested in purchasing new equipment. If you’re located nearby in Belen, Santa Fe, or Rio Ranchero, New Mexico, feel free to stop by anytime to browse our massive inventory, grab a handy part, or speak with an expert about your equipment’s mechanical parts.