Is Farm Truck Insurance Cheaper Than Normal Insurance?

Tuesday, March 27, 2018

If you own a farm, you already know how necessary it is to have quality equipment to tend to your crops and livestock. It would be difficult to maintain your fields without your tractor or feed your livestock without the hauling capabilities of your farm truck. But did you know that you could get additional money-saving benefits out of your farm equipment?


If you use your farm truck for everyday errands such as driving to the grocery store, school, or the doctor’s office, then you can take out a farm truck insurance policy on that vehicle instead of a basic car insurance policy. A farm truck insurance plan is often much cheaper than your standard auto insurance policy. And if you use your truck for farming purposes at least half the time, your farm truck insurance policy will cover the costs of any accident you have, regardless of what you are using the truck for.


The Facts About Purchasing Farm Truck Insurance

It’s important to understand the rules for insuring farm equipment in your state before you take out an insurance policy. In some states, insuring your farm-use truck with a standard auto insurance policy is optional. At one time, using a vehicle for farm-use only meant that you could drive it near the property without any insurance at all. These days, it’s common for farmers to insure their farm trucks so that they can limit paying out-of-pocket costs if an accident occurs.


If you want to insure your farm truck, first you need to find out what coverage is included in a farm liability insurance plan. This will help you to determine if a standard auto insurance plan or a farm truck insurance plan is the best choice for you.


The main thing that you need to figure out is how much of the driving is for farm use and how much is for personal use. Determining this can take some time, but it can be very helpful in your decision to insure your farm truck with the right policy.


Once you decide to insure your farm truck, it is best to shop around and find the right insurance company that understands your needs and your budget. Gather several quotes so that you can compare policies and find out which plan is the right choice for you.


Understanding the Types of Coverage, You Need

Just like auto insurance, farm truck insurance has several coverage options based on the company you choose to go with. Here is a rundown of the different types of coverage that may be available to you.


If you choose to combine your farm truck insurance coverage with your farm or ranch policy, you may be able to get a multi-policy discount from the insurance company and be charged one amount for all your policies each month.


Liability Coverage

This is the type of coverage that most states require you to have. Also known as property damage/bodily injury, liability coverage can help take care of the costs of damage to a vehicle or injury to another person in the event of an accident.


Collision Coverage

This type of coverage can pay for damages to your vehicle after you were involved in an accident with another vehicle.


Comprehensive Coverage

This coverage can pay for damage to your car due to weather, accidents that involved animals, or vandalism.


Uninsured Motorist Coverage

This type of coverage can provide you with protection if you are involved in an accident with another driver who isn’t insured.


Underinsured Motorist Coverage

This coverage is like uninsured motorist coverage, it will help protect you and cover your medical costs if the other driver in the accident does not have enough insurance.


Personal Injury Protection

This insurance coverage can help limit the costs of medical bills and lost wages due to the results of an accident.


Gap Insurance

This is a type of coverage that can take care of the amount you owe on your new car following an accident where it was totaled beyond repair.


To learn more about farm truck insurance contact the experts at at (877) 739-9367. Our licensed insurance experts will be happy to answer any questions you have