Most farmers in the Sandpoint, ID, area rely on valuable equipment that helps them work efficiently. Tractors, combines, and other machinery are expensive to replace, so it’s important to understand how your insurance policy protects them and what types of coverage may be available.
Potential Risks
The right insurance coverage can protect your farm equipment investment in several situations. You may be able to file a claim if your machinery is damaged or lost due to fire, theft, vandalism, or another covered peril. Insurance can also offer liability protection if you accidentally injure someone or damage their property while operating this equipment.
Home Insurance
Most home insurance policies do not cover farm machinery. A homeowner’s policy may cover a small tractor used only for personal, non-commercial purposes such as mowing your own lawn or clearing your driveway. However, these policies often include limits, such as restrictions on engine horsepower. Larger farm equipment is typically excluded.
Better Coverage
Farm and ranch insurance is usually the best way to protect equipment used for agricultural work. These policies can include coverage for machinery, outbuildings, mobile homes, and personal property. Depending on how the equipment is used and whether employees operate it, farmers may also need commercial vehicle insurance or workers’ compensation coverage.
Is It Required?
Idaho law does not generally require farmers to insure agricultural equipment. However, lenders often require borrowers to carry coverage if the machinery was purchased with a loan. This helps protect the lender’s financial interest.
Selkirk Insurance Services helps farmers throughout northern Idaho find the coverage that fits their needs. Our local agency has more than 16 years of experience, and we are here to answer your insurance questions. Contact Selkirk Insurance Services in Sandpoint, ID, by calling 208-263-0888 or texting 208-427-3341.
