Whether you've invested in a commercial farm or a hobby farm, a tractor can help make your farm's routine operations much easier. Whether plowing a garden, spreading compost, or clearing a pasture, a tractor is a tool with many purposes. Since you rely on your tractor, it needs the proper protection that can only be provided by tractor insurance.
Fortunately, an independent insurance agent can help you find the right tractor insurance policy. They'll get you matched to the best coverage with ease. However, you can start by checking out our list of the best tractor insurance companies of the year to make things even easier.
What Is Tractor Insurance?
Tractor insurance is a type of farm insurance coverage that helps pay to repair or replace your tractor if it gets damaged or causes damage to another person or their property. Insurance for farm equipment is a unique type of coverage, so it's best to work with an independent insurance agent who has experience in the different types of farm equipment coverage, including tractors. You can also refer to our list of the best tractor insurance companies to find the right policy for you.
The 6 Best Tractor Insurance Companies
Who has the best tractor insurance this year? We're here to help answer that question. We ranked our top 6 best tractor insurance companies based on several criteria.
The best tractor insurance ratings are based on a carrier's customer satisfaction ratings, discount options, available coverage, policy options, and more. Find our rankings for the best insurance companies for tractors across several specific categories below.
Best Overall Tractor Insurance Company: American Family
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Offers an open-perils option for customers to add their unique risks to their coverage |
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Limited options available for older equipment |
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Offers scheduled or blanket coverage options |
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No online quotes |
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Offers a list of specialized coverage add-ons |
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Coverage protects against tractor accidents, fire damage, theft, liability, and damage from natural disasters |
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American Family was founded in 1927 and offers many types of personal and business coverage along with farm and ranch insurance and tractor insurance. The carrier has outstanding ratings from both AM Best and the Better Business Bureau (BBB).
American Family earns our top spot on this list thanks to its long list of add-on options and customizable coverages. The carrier's blanket coverage allows customers to cover their tractors and all other farm equipment under one total limit, while scheduled coverage allows customers to choose individual pieces of farm equipment, such as one tractor, to insure for a specified value limit.
Customers can get coverage for much more than tractors from American Family, including policies that cover combines, planters, forage harvesters, irrigation equipment, farm office equipment, and others. Replacement cost coverage, equipment breakdown insurance, rented or borrowed farm equipment coverage, and open perils coverage are also optional add-ons.
Best Tractor Insurance Company for Total Farm Coverage: Nationwide
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Offers coverage for rented, leased, or borrowed tractors |
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Does not offer stand-alone tractor insurance policies |
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Offers optional expensive equipment scheduled coverage |
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Offers extensive blanket coverage for farm owners |
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Offers text message claim status updates |
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Nationwide was founded in 1926 and is a Fortune 100 company that sells a large catalog of personal, business, and specialty insurance. Though the carrier doesn't offer a stand-alone tractor insurance policy, customers can protect their tractors and other farm equipment through its AgriChoice blanket farm insurance policy designed for farm owners.
Customers can also purchase additional scheduled coverage for many pieces of farm equipment. Nationwide's AgriChoice policy provides coverage for tractors, livestock, additional farm structures, supplies, and irrigation equipment.
Coverage also extends to rented, borrowed, or leased tractors. Cab glass coverage with no deductible is also available. Nationwide has outstanding ratings from AM Best and the BBB and offers convenient text message updates for customers about the status of their claims.
Best Tractor Insurance Company for Discounts: Farm Bureau Financial Services
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Offers optional uninsured/underinsured motor vehicle coverage and roadside assistance |
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Coverage is only available in 14 states |
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Offers replacement cost coverage for newer tractors and other farm equipment |
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No online quotes |
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Offers discounts for bundling coverage or switching from a different insurance company |
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Offers an annual coverage review |
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Farm Bureau Financial Services (FBFS) was founded in 1939 and offers a few forms of personal and business insurance along with its farm and ranch products. The carrier has excellent ratings from both AM Best and the BBB.
One major perk of getting tractor insurance through FBFS is the carrier's included annual coverage review, which informs customers of any coverage gaps and opportunities to add more discounts to reduce their premiums. The insurance company offers a variety of discounts for customers, including for switching over to FBFS from another carrier.
Another perk is the availability of optional roadside assistance coverage for farmers who operate tractors on public roads, as well as coverage against uninsured/underinsured motor vehicle accidents that may occur. Replacement cost coverage for newer tractors and other farm equipment is also available, which can help customers replace their tractors, etc., up to the original value.
Best Tractor Insurance Company for Antique Tractors: Hagerty
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Coverage available in all 50 states |
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Antique and retired tractor insurance policies are underwritten by a third party |
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Offers a parts-finder service to locate antique parts |
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Coverage is only available for tractors at least 25 years old |
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Offers specialty coverage for retired antique tractors |
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Carrier is not rated by AM Best or BBB-accredited |
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Offers an option for customers to bundle tractor insurance with a classic car insurance policy |
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Hagerty was founded in 1984 and offers specialized coverage for antique, vintage, and retired vehicles of all kinds, including tractors and cars. The carrier even offers an option for customers to bundle classic car insurance with antique tractor insurance.
Hagerty's coverage for antique tractors is greatly beneficial for many farmers because finding a policy for older farm equipment and machinery can otherwise prove to be a difficult venture. The downside to Hagerty's coverage, consequentially, is that newer tractors under 25 years old don't qualify for a policy.
Another potential drawback to antique tractor coverage through Hagerty is that the policies are actually underwritten by a third party, though coverage is available nationwide. The carrier's parts-finder service is also extremely useful for customers seeking hard-to-find antique and vintage parts for their tractors.
Best Tractor Insurance Company for Leased or Rented Tractors: Nationwide
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Offers coverage for rented or leased tractors and other farm equipment |
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Tractor insurance is not a stand-alone product |
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Offers an option to work directly with an agent |
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No online quotes offered |
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Offers scheduled coverage for specific pieces of farm equipment |
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Doesn't offer coverage for all perils that competitors cover |
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Nationwide was founded in 1926 and is a Fortune 100 company that sells a large catalog of personal, business, and specialty insurance. Though the carrier doesn't offer a stand-alone tractor insurance policy, customers can protect their tractors and other farm equipment through its AgriChoice blanket farm insurance policy designed for farm owners. The AgriChoice policy also offers coverage for rented or borrowed equipment like tractors.
Customers can also purchase additional scheduled coverage for many pieces of farm equipment. Nationwide's AgriChoice policy provides coverage for tractors, livestock, additional farm structures, supplies, and irrigation equipment. Coverage also extends to rented, borrowed, or leased tractors.
Cab glass coverage with no deductible is also available. Nationwide has outstanding ratings from AM Best and the BBB and offers convenient text message updates for customers about the status of their claims.
Best Tractor Insurance Company for Hobby Farms: Farm Bureau Financial Services
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Offers roadside assistance coverage |
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Information about specific covered perils isn't listed on the official website |
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Offers uninsured/underinsured motor vehicle coverage |
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No online quotes |
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Allows customers to customize their coverage on all vehicles including tractors |
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Offers full vehicle replacement cost coverage |
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Farm Bureau Financial Services (FBFS) was founded in 1939 and offers a few forms of personal and business insurance along with its farm and ranch products. The carrier has excellent ratings from both AM Best and the BBB. Hobby farmers can greatly benefit from FBFS's coverage thanks to the carrier's coverage for tractors, trucks, and ATVs against collision and liability.
One major perk of getting tractor insurance through FBFS is the carrier's included annual coverage review, which informs customers of any coverage gaps and opportunities to add more discounts to reduce their premiums. The insurance company offers a variety of discounts for customers, including for switching over to FBFS from another carrier.
Another perk is the availability of optional roadside assistance coverage for farmers who operate tractors on public roads, as well as coverage against uninsured/underinsured motor vehicle accidents that may occur. Replacement cost coverage for newer tractors and other farm equipment is also available, which can help customers replace their tractors, etc., up to the original value. FBFS's coverage is also customized based on each piece's equipment's usage, making its policies ideal for hobby farmers who may need less overall coverage than larger farms.
How We Choose the Best Tractor Insurance Companies
Trusted Choice evaluated tractor insurance companies based on several criteria and applied a calculated methodology to develop our list of top carriers across several categories. More than 10 tractor insurance carriers were evaluated in terms of pros and cons, including overall website, coverage options, discounts and benefits, coverage rates, online quote availability, financial strength, and history in the insurance industry. An assessment of combined carrier reputation and tractor insurance options and prices was conducted to create our list of top picks for providers in every category above.
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