Farm Vehicle Insurance Rates

Farm car insurance rates are $84.64/mo on average in the US. Farmers can save 15% or more on car insurance by combining coverages for your home, car, and farm equipment.

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UPDATED: Jun 25, 2020

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Written By: Laura BerryReviewed By: Joel OhmanUPDATED: Jun 25, 2020Fact Checked

Here's what you need to know...

  • Rates for farm car insurance may fluctuate following natural disasters or other events in your area
  • Sometimes farmers may qualify for discounts if they don’t drive their vehicles many miles in a year
  • Farming equipment may be classified as a vehicle or as equipment depending on where you live and who your insurance provider is
  • Comparing rates of several insurance companies will help you find the best price

Farm Car Insurance: Rate Changes Can Save You Money

When it comes to farm car insurance, rate changes can affect your rates more than you know. Many people don’t realize that insurance rates can change every month.

Although your policy isn’t affected, because you have a contracted rate, when your policy ends, your increase or decrease is based on the monthly changes while you were insured.

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The reason car insurance rates will change from month to month is because the risk assessments change from month to month with insurance companies. When you purchase any type of insurance, your personal information will be used to determine what rates you pay.

Additionally, the insurance company will consider where you live and what type of vehicles you are insuring in that assessment as well. This means that other drivers will affect your rates as well.

In the case of farm car insurance rates, you will find that if there were a high number of farm accidents in your area or natural disasters that generated a lot of claims, the rates changed during those times.

If the rates went up, your insurance company will make sure you pay your share when it is time to renew your policy.

If you are an average car owner, you probably didn’t know that farm car insurance exists. Farm car insurance is insurance that covers:

  • Farm equipment
  • Tractors
  • Personal vehicles of farmers

There are some companies, such as Farmers Insurance Group, that started out providing insurance only to farmers. Today, however, many of those insurance companies provide insurance for nearly every type of vehicle rather than for farm vehicles alone.

As a farmer, however, you have specific needs that other drivers simply don’t have. That is why it is important that you find appropriate insurance for your farm vehicles.

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Farm Car Insurance: Rate Costs Could be Lower Depending on Usage

You may not know it but, as a farmer, you may qualify for lower insurance rates than other people do. For one thing, in most cases, farmers tend to drive their vehicles less than other people do.

Many of the vehicles that you insure will never leave your farm. This means your risk of an accident is much lower than if you were traveling on the open road.

Because most farmers live where they work, their auto insurance tends to be lower as well because they don’t have to drive as much.

Of course, if you drive across country to transport cattle or goods, then you are going to see an increase in your insurance rates. Simply put, the less you drive the cheaper your insurance will be.

In addition, the amount of insurance that you purchase will directly influence your rates. If you purchase liability only because you never leave your property and you don’t feel you need other types of coverage then your rates are going to be very low.

Farm Car Insurance Rate: Insurance Types

Before you take this route, however, you have a few things to consider.

  • Comprehensive insurance – covers the cost of damages due to acts of nature, fire, theft, and vandalism. If you forgo this insurance and your farm has a fire, for example, and you lose your farm vehicles, can you afford to replace those vehicles? If the answer is no, then you need to consider more than liability insurance for them.
  • Collision insurance – provides you with great protection as well, even if your farm vehicles never leave the farm. Accidents happen from running into a tree to striking an animal and having collision insurance helps cover the cost of those possibilities.
  • Business insurance – is available in some states. It covers the cost of your vehicles under the equipment section. It is important to compare the costs and the benefits each type of insurance offers.

You will find that in most states farm vehicles, outside of a licensed and registered car, truck or van, don’t have to be insured. It is in your best interest, however, to insure your farm vehicles so that if something happens you have the coverage that you need.

Farm Car Insurance: Rate Increases Can Hurt Your Bottom Line

A farm is a business and, as such, you want to ensure that you keep your costs low. If your farm car insurance rates increase, then your business could be affected. Rather than dropping your insurance altogether, consider some of these other options.

  • Increase your deductible
  • Ask about available discounts
  • Negotiate with your insurance company
  • Consider switching insurance companies

You will find that with all of the insurance competition, it is easy to find companies that can save you several hundred dollars a year. You owe it to yourself to shop around before you accept an increased insurance rate or you make a decision about an insurance company at all.

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Finding Farm Car Insurance Rate Information

Finding farm car insurance rate information is pretty easy. All you have to do is go online and use a free quote tool to compare rates between car insurance companies.

The only downside is that not every insurance company sells insurance for farm vehicles, which means that you will have to look for other sources to insure your vehicles.

As mentioned above, often business liability and property insurance will cover your farm vehicles under the equipment section. It depends on what state you live in whether insurance companies will rate your farm vehicles as equipment or as vehicles.

The good news is that you can also use quote tools for liability and property insurance if you cannot find farm car insurance rates where you live. Instead of looking for auto insurance quote tools, you will simply look for business insurance quote tools.

The benefit of using a quote tool is that you can get all of the information that you need in one place. Face it: it’s impossible for you to find all the best insurance companies on your own, one-by-one.

With the free quote tool below, all you have to do is enter your information once and then get your instant quote.

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Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Written by Laura Berry
Former Insurance Agent Laura Berry

Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP® Joel Ohman

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