Tractor Insurance

Strange, isn't it, how they are asking you to value it, and yet if it was subject to a write off they would very quickly arrive at a valuation which might differ from your appraisal. Are they hoping that you will over value it so that they can adjust the premiums upwards? I'd be tempted to ask them what value their book suggests, and then you choose whether you are happy with that valuation.
 
Nfu as most tractor policies use the value , that is sum insured as the rating factor. Usually a flat fee for the first £1000 then it used to be about £15 per £1k on top.
They don't have a book value to refer to.
In @Choochter case we have values from 10-15k above the lower will save about £75 premium but she may have difficulty in replacing it at £10k should it be a total loss.
You pay your money it's your choice.
One other point I think @Choochter has a loader in its value needs to be added to the tractor value.

We lost out on a tractor which went on fire, total loss. We had bought it for £18000 in 2011, insured for that, for some reason it about 2018 we dropped the value to £14k . In June ,21 it went on fire I couldn't find a 6270 4wd for sale at all. Assessor came back said it was worth £12k having seen a 4370 advertised at that money, a completely different tractor. In the end they did pay out on £14k but any decent 6270 about is £17-20k if you can find one. We ended up having to spend £20k on top of the 14 for a replacement.
 
opininionated said:
Strange, isn't it, how they are asking you to value it, and yet if it was subject to a write off they would very quickly arrive at a valuation which might differ from your appraisal. Are they hoping that you will over value it so that they can adjust the premiums upwards? I'd be tempted to ask them what value their book suggests, and then you choose whether you are happy with that valuation.
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The small print also says don't under value stuff. In the event of a total loss and you've under valued by 10%, they'll only pay out even less than the insured value
 
Just got the renewal note for my fleet!
A T reg Merlo, X reg JD 6410, L reg JD 2850 and a P reg DB 885. K think total value is stated as around 45k.
Premium has stayed the same, fully comp on all with some small excesses on various claims.
Cost of insurance for all, £1196.00 annually.
How does that sound? Is it worth ringing round?
TBF any quote would have to be sub £900 to tempt me as I've always been happy with the way any claims have been handled, and I do believe to a certain extent you only ever find out how good insurance is when you make a claim!
 
Last June I got down to £870 for £70k insured. County were very keen to keep the business and knocked £250 off the renewal when Acres came in with a better price. Shouldn't really have stayed after that stunt but they had sharpened their pencil considerably last month for the buildings and their first price was the best
 
deere66 said:
Last June I got down to £870 for £70k insured. County were very keen to keep the business and knocked £250 off the renewal when Acres came in with a better price. Shouldn't really have stayed after that stunt but they had sharpened their pencil considerably last month for the buildings and their first price was the best
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How many vehicle policies was that?
 
deere66 said:
6. 4 tractors, combine and telehandler. A month later I traded the handler, added £12k insured value for 50 quid.

Is your Merlo insured for construction that would add ££££££?
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No, merlo is farm use only, never leaves the yard so essentially the risk is damage and fire, in fact the only one that ever goes on the road is the 6410, might do 20 miles on the road per month.
 
opininionated said:
No, merlo is farm use only, never leaves the yard so essentially the risk is damage and fire, in fact the only one that ever goes on the road is the 6410, might do 20 miles on the road per month.
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I would get another quote then. Suppose location and claims history would affect a quote. Someone tried telling me that not having a claim for 30+ years makes you more of a risk than someone who has a claim now and then. Don't know whether that's true or not
 
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