Farm truck insurance is an optional expense for farmers. They are not required to carry it since the vehicles aren’t really in danger of damaging property owned by other people. However, it still might be a wise decision to carry farm vehicle insurance. Accidents can happen anywhere, even in a secluded field, and a damaged truck may be an expense that a farmer just isn’t ready to pay out of pocket.
For insurance purposes, farm trucks are classified as vehicles that are being used for the sole purpose of farming. In other words, no side trips into town. Depending on the state and insurance company a designated farm plate might be required for the vehicle. Farm truck insurance is typically required for vehicles that will be occasionally using highways and other roads frequently traveled by standard vehicles. There was a time when farm liability insurance took care of most farming trucks but due to rising insurance costs it’s becoming increasingly rare.
Farm equipment insurance is often seen as a necessary evil but there is no denying the benefits. Not only are trucks and other vehicles expensive but they are crucial to the farming operation. Losing the ability to haul equipment or a harvest will cost much more than a year’s insurance premiums. Farming vehicles are obviously operated by people and people make mistakes. An eventual accident is inevitable. Often times the biggest danger is coming from the negligence of other drivers. Even though the trucks are being operated in sparsely populated country side, encounters with other cars and vehicles is a daily occurrence. No amount of safety precautions and attentive driving can make up for the mistakes of other drivers or a wild deer jumping out in front of you in the middle of the night.
Like all other kinds of insurance, there are ways to keep the cost down if one chooses to go with a policy. Older vehicles are naturally less valuable and less costly to replace so the cost of coverage will likewise be less. A positive driving record with a minimal amount of tickets and wrecks is a big plus. Sometimes there is nothing a driver can do about past mistakes on their record, but they always have the option of taking a higher deductible. More money comes out of pocket in the case of an accident but the monthly savings of a higher deductible can be well worth it. Get with a professional broker to determine what options work best for your farm truck insurance.