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Hit & Miss Gas Engine Discussion Meet collectors of hit and miss engines, ask questions about collecting, restoring and showing antique flywheel engines.

Hit & Miss Gas Engine Discussion

Liability Insurance


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  #1  
Old 09-15-2008, 08:37:07 PM
bocephus_k6 bocephus_k6 is offline
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Default Liability Insurance

I know this has been hashed and rehashed, but after reading through some past posts on the subject I didn't see any real solution to the liability issue while in transit too and from a show on engines or tractors the like.

Has anyone had any good experiences with insurance companies finding what they wanted for insurance without having to mortgage the house and farm.?

I know here in Canada its a hard thing to find, I think Haggerty in the US is doing some antique farm equipment now but they dont have offices or agents in Canada.



Brian
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Old 09-15-2008, 09:23:28 PM
Peter Peter is offline
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Default Re: Liability Insurance

You may not want what I think you are asking for. If I understand right. An assuming Canada and U.S.A. about the same. This my take:

If you have an accident, say your brakes fail and the heavy loaded trailer pushes you into oncoming traffic. Your current policy should cover you up to a limit. Thats as far as paying the damage to others. You want the insurance to pay damages for your cargo on the trailer? Thats got to cost.

On other hand, lets say you cautiously go threw an intersection and somebody slams you. The other guy is liable for personal, vehicle and cargo damaged. Up to a limit his policy should pay and beyond that you can sue for the balance.

Third senario, you mess up no one else involved. Due to your own fault the tractor on your trailer is damaged. If, you have coverage and file a claim, YOUR RATES GO UP. Most people prefer to fix their own screw ups and keep the driving record clean and rates down. Do you really want to admit to being at fault and asking your own insurance for a settlement? I would drive careful and cover that risk out of pocket.

So, in a nut shell, I don't see any need for special added tractor on trailer insurance. And I would expect a good insurance company to have its radar way on high for special coverage requests. Because those settlements just get passed on to the good drivers in the form of higher rates. They are right to be careful for special/extra coverage requests.

I think the majority of discussion and the perceived need has be around insurance to cover the risk to you (or me)when running a display at a show. Not to cover the machines, but you (or me) if some innocent bystander is hurt.

Or do you hire someone to haul your machinery. Seems he should have a commercial license and some sort of commercial insurance to cover the cargo. Is that the scenario? I guess I don't know what this is about. I follow this thread and learn.

Last edited by Peter; 09-15-2008 at 09:28:47 PM.
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  #3  
Old 09-15-2008, 09:29:29 PM
lmm1968
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Default Re: Liability Insurance

I've had no experience with it but we will be looking into extra LI before next year's show.

At Alexander this year a younger boy leaned way over the rope around our display and almost touched one of the mufflers on a running engine and his parents said nothing to him when he did it Then a little girl was hitting the rope all the way around our display with a stick. I'd have been VERY upset if the boy had been burned or the girl had hit one of the engines Especially since we, no doubt, would have been blamed by the inattentive parents.

I'm not nearly as worried about going to and from the show with the engines as I am of the risk at the show.
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  #4  
Old 09-15-2008, 09:32:48 PM
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Craig A Craig A is offline
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Default Re: Liability Insurance

Well........(this is my Majeski act....... ) if I have to sell off a piece every now and then in order to afford to keep the rest insured I'll take my chances.......
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Old 09-15-2008, 10:11:22 PM
bocephus_k6 bocephus_k6 is offline
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Default Re: Liability Insurance

Ok here's a scenario and you tell me what you think, you have a nicely restored tractor and you are driving it to a local show, lets say for kicks, 10 miles away, you have all the required SMV and lights that are law, and someone out of the blue hits you from behind, sends you over the tractor and rips the rear axle carrier off on one side, basically the tractor is unmoveable. Now would your insurance now cover your tractor damages and you if you are hurt, plus the towing and recovery costs as they maybe.?
And I ask this because a friend of ours a few years back was doing just this scenario, a woman nailed him in the back and literally scrapped a Massey 44 of his he prized highly, and rightly so , it was imaculate. He had to fight like h@ll just get his medical damages paid, and I am not sure he ever got anything for his prized tractor. It darn sure makes you wonder, and yes it used to be when you seen a farm tractor on the road, you knew to slow down, but people have NO common sense nowadays and just figure the tractor will get the heck out of the way, they are coming through.

Brian
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Old 09-15-2008, 10:35:17 PM
Peter Peter is offline
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Default Re: Liability Insurance

Here you need a plate on the tractor just to cross the road. And in the case you describe (if accurate) the auto driver's insurance would pay at least 10k toward the tractor and another 10k for medial or 20k total. Thats the legal minimum insurance every auto must carry. I have more- to protect myself. So; if you lived here, yes you would be covered by the at fault auto. For everything you deserve.

Now, if the tractor does not have the registration plate, its going to be a judges call on medical. And tractor is definitely not covered. Hit out of the blue sounds bad, but you know coming around a corner at legal 50 mph can be hard to stop for a 2mph tractor. My neighbor got hit doing snow removal, no plate and snow on road conditions. Tough break, no one at fault really yet he had to pay for everything. His medical, other auto and his tractor was a total too.
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Old 09-15-2008, 10:40:53 PM
bocephus_k6 bocephus_k6 is offline
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Default Re: Liability Insurance

Hi Peter, and thats too bad, here we don't have to have a plate....YET..!!
But this fellow was on a straight stretch of road,no traffic, beautiful sunny day and the woman told the officer at the scene she didn't see the tractor.... It's not like a big old Massey 44 the size and color it is is camo'd in any way...LOL
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Old 09-15-2008, 10:54:44 PM
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Jim Arras Jim Arras is offline
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Default Re: Liability Insurance

I have Haggerty for a tractor and a crawler that I own. They are very reasonable pricedfor the coverage. With Haggerty you would not be driving the tractor to the show, in the policy you have to trailer to a show, just like the cars they insure. They have been a very good company to deal with.
Jim
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Old 09-15-2008, 11:01:17 PM
bocephus_k6 bocephus_k6 is offline
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Default Re: Liability Insurance

Hi Jim, Unfortunately Haggerty doesn't have an agent here yet in Canada, but if thats the case you have to trailer them, it wouldn't do us much good anyways.

Brian
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Old 09-16-2008, 07:36:02 AM
DanR
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Default Re: Liability Insurance

Around here tractors on the road are common place. They pull over when they can and other drivers show respect for the farmer. However, we are not exempt from being rear ended by some one looking for their cell phone. I know, I've been hit twice. What is the judges take on this?
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Old 09-16-2008, 09:27:39 AM
Walt Roys Walt Roys is offline
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Default Re: Liability Insurance

In our sue-city society where greed is the motivator we have to protect ourselves the best we can. Took my engines to the county fair this year and we had no retaining bariers or any thing. Parents do allow their kids to reach out and touch stuff even if it is hot. It is hard for me to believe just how far parents allow their kids to go and then want to sue for their own stupidity. Greed and stupid when put together is costly for every one.
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Old 09-16-2008, 11:20:28 AM
bocephus_k6 bocephus_k6 is offline
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Default Re: Liability Insurance

I believe you hit it right on the head Walt, common sense is a thing that has long disappeared in our society anymore, people just don't seem to give a damn anymore, and it's ruining the fun at shows for many people who enjoy them. It's getting to the point anymore you have to have each person that comes to watch at a show sign a waiver that they are responsible for their actions to remove the liability from the show.

And I agree as well with DanR, normally when you see a tractor or piece of farm equipment on the road, most people would slow down or pass when its safe, anymore if you see a car coming its almost the farm equipment drivers obligation to just dive into a field or ditch to avoid getting run into.

Brian
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Old 09-16-2008, 03:33:54 PM
HBurk HBurk is offline
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Default Re: Liability Insurance

Would you go to a show that has "NO" insurance on you what-so-ever?
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Old 09-16-2008, 05:39:47 PM
Fred Milner Fred Milner is offline
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Default Re: Liability Insurance

You can try Jennifer Werbelow 307-682-9397 Jennifer.Carey@bankofthewest.com
They offer good insurance form the looks of it. I talked to them and they said $200 for first $50,000 of coverage and $75 more for first $100,000 of liability insurance. You can get higher insurance for both if needed. It covers tractors and engines or a combination of each. They cover them for fire, theft, or damage from others. Cover them at home , show, or on the road. If it falls off the traile they will fix it ir replace it up to the pre determined amount you place on it. I got sick in the middle of the aplication prosses so I will know more when i get better. It sounds good at this point and at a good price. Call her and see what you think. Thay use Travelers as the insurer. It should be good for all of us.
Thanks, Fred Milner
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Old 09-17-2008, 09:08:56 AM
Keith Keith is offline
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Default Re: Liability Insurance

(If it falls off the trailer, they will fix it or replace it up to the predetermined amount you place on it.)

Fred, A word of caution. You can insure an engine for $10,000, but if you have a loss, you will be required to produce an appraisal by a certified or qualified appraiser to support your claimed loss.
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Old 09-17-2008, 06:07:37 PM
Fred Milner Fred Milner is offline
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Default Re: Liability Insurance

That may be true and I think you are right. If you put a price on it and pay that amount for the insurance it should be what the engine is worth and not some outrageous amount. The insurance companys only want to pay a low amount for a restored tractor or engine but this company said they will pay the predetermined price. I would think if you told them you wanted to insure an H Farmall for $10,000 they would want to know why up frount. I would try to be honest about the value but someone will try to make money on it. I would think you would not get any money at all if you tied it on the trailer with bailing wire. They will want to know you were trying to do the right thing. We will see if it works out. I hope I never need it but if I do I hope it will pay.
Fred Milner
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