Do I have the right tractor insurance?
Tractors have come a long way from just being machinery on the farm. Thanks to farm diversification, farmers and landowners are able to use their farm vehicles in ever more creative ways to bring in an income. They can be booked out for weddings in the countryside, or they could be taken to a summer fair down the road with a vehicle display. Whatever you use your tractor for, it’s important that you get the right level of cover.
Modern tractors can be big beasts. They are capable of doing a lot of damage, even if you and your employees drive them with the utmost care. You need to be confident that you have the right tractor insurance should you be involved in any kind of accident.
Third parties can sue you if they are injured or their property is damaged because of a farm vehicle that you were driving. The consequences can be devastating if you don’t have insurance to cover the legal fees or payouts if you are found guilty of negligence. Your vehicles are also at risk of damage or theft which can lead to costly replacements.
In this article, we’ll help you find the right tractor insurance for your vehicles. We’ll compare the different options and explain why insurance is important in helping you to prepare for the future.
As with any insurance, tractor insurance comes in a variety of forms and policies. You can buy fleet insurance if you have a number of vehicles that you want to insure at the same time to save on money and paperwork. Classic tractor insurance will cover tractors that are over 25 years old in case they get damaged or stolen.
There are different levels of cover too. Comprehensive cover might be the best option for you if you use your tractor for work on a daily basis. On the other hand, a Third-party Only cover could be an option if you don’t use your tractor very often and just want the most basic level of cover.
Continue reading for a more in-depth guide of what is offered with the different policies and levels of cover with tractor insurance.
What is tractor insurance?
Tractor insurance is an umbrella term of policies that cover tractors and other agricultural vehicles. Your tractor will be covered against theft, vandalism and natural elements such as fire, storms and floods. The insurance will also cover you against third party compensation claims if you and your tractor injure someone else, or damage their property.
Other vehicles such as 4x4s, quad bikes and combine harvesters can also be insured under the same policy. Insurance can be tailored to fit your individual needs. It will cover incidents on your private land, but it can also be adapted to cover tractors travelling on the roads or on other lands.
What does tractor insurance cover?
Your tractor insurance can be adapted to cover various additional policies. Below are some examples of the support on offer.
Attachments
Horseboxes, trailers and livestock trailers can all be covered under tractor insurance. You will need to notify your insurance broker if you want to add an accessory to your policy.
Road risks
There are plenty of risks when you’re driving your tractor on public or private roads. This type of insurance can offer cover if you encounter any problems whilst out and about.
Drivers over 17
Most insurance brokers cover drivers aged 17 years or over. It is a legal requirement to have Category F on your license to be able to drive a tractor on a public road. This also applies to other vehicles used for agriculture or forestry purposes.
Tractors have certain limitations when driving on public roads. The standard speed limit for most tractors is 25 mph (40 km/h). Some tractors are allowed to drive at an increased speed, but this could be lead to a more expensive policy.
Valuables
It’s not only the physical tractor that you need to worry about. Valuables and personal items can be damaged or stolen if they were being stored inside the vehicle. This can be covered by tractor insurance alongside your vehicle.
Replacement parts
Tractors can be prone to wear and tear, but sometimes the damage to your tractor isn’t because of the usual work. Mechanical faults can mean that your tractor is unfit for purpose because certain parts can’t be repaired. Replacing parts isn’t can get expensive, which is why you can claim on your insurance to help cover the costs.
Why do I need tractor insurance?
Compensation claims and penalties can be expensive, especially if you are unprepared. Insurance covers legal fees and claims made by third parties if they were injured or their property was damaged. It also covers you if you get injured, your tractor is damaged, stolen or vandalised.
What are the levels of tractor insurance cover?
There are three levels of tractor insurance. You can add on extras if you feel that your needs aren’t covered by the standard insurance policies.
Despite what you may think, the most comprehensive cover isn’t necessarily the most expensive. It can work out better value because you will get a high level of cover, whereas the other options might be more competitively priced, but don’t cover a lot of basic issues which can leave you out of pocket if you need to make a claim.
Below is a brief description of what you can expect with each level of cover.
Third-party only (TPO)
This is the legal minimum cover for use of your tractor off private land. Third-party only is there to provide cover against someone making a compensation claim. The claim could be due to an injury that they sustained from your tractor whilst you were driving it or damage to their property.
As the name suggests, Third-party only insurance covers damage or accidents that involve other people. You won’t be able to claim on this insurance policy if your tractor is damaged, stolen or vandalised. It also won’t cover you if you are injured in any way.
Third-party, fire and theft (TPFT)
This insurance offers more cover than Third-party only. As well as covering injury or damage to third parties, you will also be covered if your tractor is damaged by fire or stolen.
Comprehensive cover
Comprehensive cover is the most inclusive of the three insurance types. It can work out the best value for money because you are covered for a wide range of problems.
You will be covered for the same issues as the previous two policies, such as fire damage, theft or stolen tractors. This insurance will cover you if you’re in an accident that is found to be your fault or accidents caused by third parties.
The cost of repair or replacement to a third party and your vehicles will be covered, as well as compensation to the driver if they’re injured.
What types of tractors can I insure?
You can cover a wide variety of tractors, but they often need different policies to ensure that you are getting the right insurance for your situation. Below are some of the types of tractor insurance that is on offer.
Standard
This is a good level of cover if you have a single tractor. You will need to state what the tractor is used for when applying for a quote, as well as any modifications or adaptions that have been made to the vehicle.
You can choose whether you want Comprehensive, Third-party only or Third-party, fire and theft cover.
Fleet
Fleet insurance covers multiple tractors and other farm vehicles, such as 4x4s, combines, quad bikes and combine harvesters. It allows insured drivers to drive various vehicles at the same time under the same insurance policy.
You can insure vehicles other than tractors, as long as they are used on your land for agricultural purposes. The insurance is flexible and can be tailored to the number of vehicles you have so that you’re not overpaying for irrelevant insurance.
Classic
Classic tractors are considered by most insurance providers as vehicles aged 25 years or over. Classic tractor cover can be purchased for tractors that are still used for everyday farming purposes. It is also popular amongst tractors that are taken on the road for events or demonstrations.
Insurance providers need to know what the tractor’s purpose is so that your policy can be adapted to cover the possible eventualities. For example, if the tractor is used for weddings, you will need insurance that will cover you on the road and against third-party claims.
It’s worth insuring your tractor, even if it’s not taken out or an essential part of work. Parts can be expensive, especially for classic tractors, so it’s good to have insurance in case your tractor is damaged on your own land and you need help with the reparation costs.
Your tractor insurance can usually be adapted in case you need limited mileage cover if it’s not used very often.
Is tractor insurance a legal requirement?
There is no legal requirement to have insurance for your tractor unless you are driving it on the road or anywhere other than your private land.
Your tractor is at a higher risk of being involved in an incident when it is on the road and around other vehicles and people.
The tractor insurance you have must be updated if you want to start using it on the road but haven’t insured it for travel yet. It is also a legal requirement that the person driving the tractor has a valid UK driving licence.
How much does tractor insurance cost?
The cost of tractor insurance varies between the different types of cover. Insuring one tractor will cost less in the short term, but it can work out better value to insure multiple vehicles under the same policy. This will help with renewal and insurance management by saving you money and the hassle of updating multiple policies.
You can reduce the cost of the insurance by ensuring the tractor is properly protected. Try to install cameras, GPS tracking and locks. This will help lower the chances of something happening to your tractor and will help to protect your no-claims.
You need to make sure you have stated the purpose of your tractor and any other relevant information. The policy could be invalidated if you don’t notify your insurance provider of the correct information and then you try to make a claim.
Contact our team of expert insurance brokers for a quote and let us help you find the best insurance for your tractors and other agricultural vehicles.
