Best Tractor Insurance

Protect your tractor from losses like theft and weather damage

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If tractors are an essential part of your farm’s operation, having a tractor insurance policy can come in handy. Tractor insurance covers your tractors and related farm equipment from covered perils, like water damage, theft, and vandalism. If your tractor gets damaged beyond repair, your insurance company will reimburse you for the cost of a new one. 

To find the best tractor insurance companies, we reviewed more than a dozen providers based on factors including policy options, special features, and coverage area. Whether you own a small organic farm or a multi-million dollar agribusiness, these are the tractor insurance companies we recommend.

The Best Tractor Insurance in 2021

Best Overall : American Family


AmFam

 AmFam

Why We Chose It: With generous coverage, unique endorsements, dedicated claims representatives, and 24/7 customer support, American Family is the best overall tractor insurance provider on the market.

What We Like
  • Coverage for many types of tractors and ride-on equipment

  • Wide variety of endorsements available

  • Policies include liability coverage

What We Don’t Like
  • Policies only cover basic perils

  • Not available in every state

If you’re shopping for tractor insurance, American Family is the best provider around. The company offers comprehensive standalone tractor insurance policies, which means you won’t have to settle for an endorsement with limited coverage. Policies cover owned, rented, and borrowed tractors, and include bodily injury and property damage liability insurance.

American Family’s tractor insurance policies are available with blanket coverage or scheduled coverage, depending on the number of tractors you own. You can easily customize your policy with optional coverages, like replacement cost coverage, mechanical breakdown coverage, and ingestion of foreign objects coverage, or upgrade to an open perils policy.

Another thing we like about American Family is that most ride-on equipment qualifies for coverage. You can insure standard tractors, combines, and forage harvesters as well as planters, sprayers, wagons, irrigation equipment, office supplies, and more.

American Family doesn’t have many downsides, but we should mention that coverage is not available everywhere. Additionally, we found that the perils covered under American Family’s tractor insurance policies are somewhat limited compared to other providers we reviewed.

Best Blanket Equipment Policy : Nationwide


Nationwide

Nationwide

Why We Chose It: Nationwide is the best choice for a blanket equipment tractor insurance policy, which covers your fleet of tractors on an open perils basis, and includes unique coverage for things like towing and cab glass damage.

What We Like
  • Most farm equipment qualifies for coverage

  • Coverage is offered on an open perils basis

  • Long list of covered perils for enhanced protection

What We Don’t Like
  • Can’t get a quote online

  • Above-average customer complaints from the NAIC

Nationwide is one of the largest insurance providers on the market, and it’s our top recommendation for blanket equipment tractor insurance. The company’s AgriChoice® blanket farm insurance policy includes coverage for a wide variety of farm equipment and offers several unique coverages.

With an AgriChoice® policy, you can insure farm equipment like tractors, sprayers, planters, hay rakes, field equipment, portable fences and structures, and GPS equipment, up to a blanket limit. Nationwide will insure your tractors on an open perils basis, which means your equipment is covered for any loss that is not explicitly excluded from your policy.

Besides basic perils like fire and theft, Nationwide’s AgriChoice® policy also has coverage for damage during towing and hitching, damage from ground contact, foreign object damage, and a cab glass deductible waiver. Plus, you get the same coverage for tractors that are borrowed, rented, or leased.

Although Nationwide generally offers good online tools, the company doesn't allow you to get an online quote for tractor insurance specifically. If you want to get a quote or file a claim, you’ll need to call an agent in your area.

Best Liability Policy : Farm Bureau


Farm Bureau Financial Services

Farm Bureau Financial Services

Why We Chose It: Farm Bureau’s farm insurance policies include liability coverage for your tractor and related farm equipment, and you can work with an agent to determine how much liability coverage is right for you.

What We Like
  • On-Site SuperCheck® helps you choose appropriate liability coverage limits

  • Farm Bureau agents are AgWise Certified®, so they understand farm liability risks

  • Discounts available for bundling farm insurance policies

What We Don’t Like
  • No options to customize your policy

  • Limited coverage area

  • Must work with an agent to get a quote

Founded in 1939 to meet the special needs of farmers, Farm Bureau provides tractor liability insurance that includes bodily injury and property damage coverage which will pay for your legal fees if you are responsible for someone’s injuries or you cause damage to someone else’s property while operating a tractor, and you get sued. 

If you’re not sure how much tractor liability coverage you need, you can take advantage of Farm Bureau’s On-Site SuperCheck® program. An insurance agent and an agricultural underwriter will visit your farm to analyze potential risks and recommend an appropriate amount of coverage to limit your liabilities and keep everyone safe.

Although Farm Bureau does offer good tractor liability insurance, the company falls short in some other areas. For example, you don’t have any options to customize your policy with endorsements. We should also note that Farm Bureau doesn’t offer standalone tractor insurance policies. You’ll need to buy a standard farm insurance policy to get this coverage.

Best Theft Policy : USAA


USAA

 USAA

Why We Chose It: If your tractor is stolen from your barn or field, a tractor insurance policy from USAA will reimburse you for the cost of a new one with a low deductible.

What We Like
  • Standalone tractor insurance policies are available

  • USAA is known for its excellent customer service

  • Low deductible for covered claims

What We Don’t Like
  • Must be affiliated with the military to buy coverage from USAA

  • USAA doesn’t underwrite its tractor insurance policies

With a USAA tractor insurance policy, if your tractor is unexpectedly stolen, you can replace it with a new one even if the stolen tractor is borrowed, rented, or leased. Plus, USAA’s policies cover tractor theft on or away from your farm.

If you choose to purchase tractor insurance through USAA, you’ll also get full replacement cost coverage for your tractor as long as it’s under seven years old. You can even get reimbursed up to $250,000 for new tractors that get damaged or stolen within the first 60 days of ownership. 

In addition to theft coverage, USAA’s tractor insurance policies include coverage for flood damage, fire, upset or overturn, collision, malicious mischief, and building collapse. When you purchase a policy, you can choose a deductible as low as $100 if you need to file a covered claim.

Although USAA is one of the highest-rated insurance companies on the market, the company only sells insurance to active duty and retired military personnel. Also, USAA doesn’t underwrite its tractor insurance policies. The company partners with Travelers Insurance to offer farm and agricultural insurance, including tractor insurance.

Best for Leased or Rented Tractors : COUNTRY Financial


Country Financial

Courtesy of Country Financial

Why We Chose It: A tractor insurance policy from COUNTRY Financial will protect farm equipment that is rented or leased, so you never have to worry about repairing or replacing a financed or borrowed tractor out-of-pocket.

What We Like
  • Customizable coverage with unique add-on policies

  • Option to purchase a standalone farm personal property policy

  • COUNTRY Financial has nearly 100 years of experience insuring farmers and farm equipment

What We Don’t Like
  • Lease and rental coverage is only available as an endorsement

  • Policies not sold in every state

  • Can’t get a quote online

COUNTRY Financial sells robust farm personal property insurance policies with the option to add an endorsement for machine rental. If your leased or rented tractor becomes unusable due to a covered claim, COUNTRY Financial will pay for a replacement.

Farm personal property insurance from COUNTRY Financial is available in several tiers. The most basic policy comes with named perils coverage or you can upgrade to a broad form policy with additional coverage for tractors, machinery, and other farm equipment. The highest level of coverage comes with broad form coverage plus livestock insurance.

When you purchase coverage from COUNTRY Financial, you’ll have the option to choose between an actual cash value policy or a replacement cost policy. You can also add endorsement packages like AgriPlus®, which provides increased coverage limits for newly acquired farm machinery, farm personal property, and more.

COUNTRY Financial was founded in 1925 by a group of farmers. The company currently serves customers in 19 states.

Best for Covered Perils : Sentry


Sentry

Sentry

Why We Chose It: With coverage from Sentry, your tractor is protected against a long list of covered perils you could face on the farm.

What We Like
  • Tractors are protected against several covered perils

  • Policies are endorsed by John Deere

  • Single deductible option for claims that damage multiple pieces of farm equipment

What We Don’t Like
  • Only available for John Deere tractors and equipment

  • High number of customer complaints

  • Doesn’t disclose pricing or deductible options online

Sentry is our pick for the best for covered perils of any tractor insurance provider. However, this coverage is only available to John Deere tractor owners and if you own a Massey Ferguson, New Holland, or Fendt, you’ll need to look elsewhere. 

If you are financing your John Deere tractor, you can purchase Sentry's UltraGuard policy, and if you own your Deere tractor outright, you can purchase the SentryGuard policy.

Sentry calls their tractor insurance policies “equipment physical damage insurance.” With either the UltraGuard or SentryGuard policy, your tractor and other John Deere equipment is protected against a long list of covered perils, including fire, collisions, earthquakes, tornadoes, overturn, theft, foreign object ingestion, vandalism, hail, water damage, flood, wind, animal damage, damages while in transit, and several others.

The UltraGuard and SentryGuard tractor insurance policies also come with other perks like flexible payment plans, guaranteed repairs using genuine John Deere parts, and fast claims handling. Plus, you’ll only pay one deductible if multiple John Deere tractors or equipment get damaged in a single covered event. 

To file a claim with Sentry, you can submit the request directly to the company or you can go through the John Deere dealership where you purchased your tractor. However, Sentry doesn’t include any information online about its pricing or deductible options, so you’ll need to speak with an agent or contact your local dealership for more information.

Best for Antique Tractors : Hagerty


Hagerty

 Hagerty

Why We Chose It: Hagerty specializes in insurance coverage for classic tractors that are out of service, making it our top recommendation for farmers that need coverage for antique or rare models.

What We Like
  • Affordable policies with discounts available

  • Includes guaranteed value coverage

  • Dedicated part finders who can track down rare replacement parts

What We Don’t Like
  • Doesn’t offer coverage for tractors in use

  • Tractor must be at least 25 years old to qualify for coverage

If you have an antique tractor on your farm that is vulnerable to damage or theft, consider purchasing tractor insurance through Hagerty. The company specializes in antique and classic tractor insurance and will insure a single antique tractor or an entire collection.

To qualify for Hagerty’s antique tractor insurance, your tractor must be at least 25 years old and in good condition, unless it’s being actively restored. Additionally, the tractor must be fully retired, meaning it’s not used for farming or utility purposes.

Hagerty’s tractor insurance policies include basic coverage, but for an antique tractor on display, you’ll get the most important protections. Standard policies come with guaranteed value coverage, which will reimburse you for the full cost of your antique tractor in the event of a total loss. And because antique tractors need less coverage than active use tractors, the policies are very affordable, according to Hagerty’s website. To get a quote, you can use the online quote generator or call an agent. 

We also like that Hagerty has a team of claims handlers who are experienced in classic tractor insurance. If something happens to your tractor, you can choose your own repair shop, or the company can recommend one near you. Hagerty even works with parts finders who are responsible for tracking down hard-to-find replacement parts for your antique tractor’s specific make and model.

Final Verdict

Every tractor insurance company has advantages and drawbacks. For example, USAA is a great choice for theft coverage, but you have to be military-affiliated to buy coverage. Nationwide has amazing blanket coverage for a variety of tractors and equipment, but the company has a high number of customer complaints. Sentry will cover your tractor from a long list of covered perils, but only if you have a John Deere model.

If you’re not sure which tractor insurance company is right for you, you can’t go wrong with a policy from American Family. The company will insure nearly every type of tractor, and you can customize your policy with endorsements, like replacement cost coverage and mechanical breakdown coverage. American Family also has excellent customer service, with 24/7 support.

Compare Providers

Insurer Types of Policies Premiums Start At
American Family
Best Overall
Tractor and farm equipment, livestock and cattle, structure/outbuilding, house/dwelling, agribusiness Price by quote
Nationwide
Best Blanket Equipment Policy
AgriChoice®, AgriChoice® Plus, CountryChoice®, tractor insurance, livestock insurance, ATV insurance, liability insurance, property insurance, farm auto/truck, farm homeowners Price by quote 
Farm Bureau
Best Liability Policy
Property coverage, liability coverage, farm vehicle, crop insurance, livestock insurance, business succession insurance, loss control services Price by quote 
USAA
Best Theft Policy
Standalone tractors and equipment, dwelling and structures, liability coverage, hobby farms, estate farms, grain growers/ranch, equine operations, orchards, and vineyards Price by quote 
COUNTRY Financial
Best for Leased or Rented Tractors
Farm personal property, outbuilding/irrigation equipment, house and personal property, liability, and medical Price by quote 
Sentry
Best for Covered Perils
Equipment physical damage insurance Price by quote 
Hagerty
Best for Antique Tractors
Antique tractors insurance Price by quote 

FAQs

What Does Tractor Insurance Cover? 

Tractor insurance covers physical damage to your tractor and other ride-on farm equipment. If your tractor gets damaged or destroyed by a covered peril, your insurance company will reimburse you for the repairs, or the cost of a new tractor in the event of a total loss. 

Most insurance providers offer two types of tractor insurance: scheduled policies, which cover individual tractors, and blanket policies, which cover multiple tractors.  

How Much Do Tractor Insurance Policies Cost? 

The cost of tractor insurance varies based on several different factors, including the type of tractor you own, type of policy you need, amount of coverage you buy, the deductible, and where you live. Most insurance companies will also consider your age, credit score, and claims history when they calculate your tractor insurance premium. 

How Can I Choose the Best Tractor Insurance Policy for My Farm?

To find the best tractor insurance policy, consider your personal needs and the amount of risk that you face on the farm. For instance, if you have a fleet of tractors that are used daily, choose a blanket policy over a scheduled policy. If you leave your tractors in the field and not in a covered barn, you may need higher coverage limits for things like theft and weather damage. If you run a large farm with many workers, make sure you have enough liability insurance to cover potential injuries and property damage. 

Do You Need Tractor Insurance? 

Tractor insurance is not essential, but it’s worth it for some people. Purchasing tractor insurance is a personal decision, and it depends on the amount of risk you’re willing to take as a farm owner. 

However, having tractor insurance can come in handy if your tractor gets damaged, destroyed, or stolen. Without insurance, you would be financially responsible for repairing or replacing your tractors out-of-pocket, which is a major cost and could have an impact on your farm’s operation.

Methodology 

To find the best tractor insurance companies, we started by evaluating 14 carriers and reviewed each one based on policy options, unique features, endorsements, customer service, coverage area, and customer complaints. We also looked for insurance providers that offer additional farm and ranch insurance policies besides tractor insurance. 

All of the tractor insurance companies on our list are available from reputable companies, have multiple policy options, and cover most types of tractors and related farm equipment.