The Best Tractor Insurance Companies

Farm owners need the best tractor insurance available to protect their agricultural operations in case critical farm machinery is damaged or breaks down.

Best Overall

The Best Tractor Insurance Option American Family Insurance

American Family Insurance

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Best Total Farm Coverage

The Best Tractor Insurance Option Nationwide


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Best for Discounts

The Best Tractor Insurance Option Farm Bureau Financial Services

Farm Bureau Financial Services

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Farmers depend on reliable machinery and equipment to tend fields, harvest crops, and keep their operations running smoothly all year round. While agricultural equipment is built to last and continue operating in harsh conditions, intense usage can lead to breakdowns. Moreover, such machinery can fall victim to damages stemming from rock ingestion, inclement weather, rodent infestation, and other perils.

From tractors to balers, farming equipment is both vital to farming and costly to replace, and so it makes sense to insure this machinery with tractor insurance in the event that vehicles break down and need to be repaired or replaced. The best tractor insurance covers a wide range of farming equipment and perils, protecting policyholders from costly damages and helping to make them whole again. This type of insurance often also offers liability coverage in the event that the policyholder’s covered tractor causes property damage or injury to another party while being operated—either on private property or a public road.

While farm owners may have extended warranties on their farm equipment to cover replacement costs, purchasing tractor insurance can offer added peace of mind in case this essential machinery stops running and prevents farms from running on schedule. Lenders may also insist on separate insurance coverage if the vehicle purchase has been financed through a loan.

Who has the best farm insurance for tractor coverage? It’s a question many farm owners have asked, and the answer requires a close examination of the leading providers in this particular corner of the insurance industry.

  1. BEST OVERALL: American Family Insurance
  3. BEST FOR DISCOUNTS: Farm Bureau Financial Services
  5. HONORABLE MENTION: Travelers Insurance
The Best Tractor Insurance Options

What to Consider When Choosing One of the Best Tractor Insurance Companies

When searching for the best tractor insurance, farm owners should look for companies that can provide the level of service, coverage, and support they need. Cost is another major factor to weigh when deciding on any insurance provider, reviewing rates, deductibles, coinsurance, and other expenses that may need to be paid in exchange for coverage. With any type of insurance, it’s very important to check the financial health of the provider so customers can feel confident that any claims can be paid out quickly without any delays. Deciding which of these many considerations to prioritize first will largely depend on the circumstances and requirements unique to each customer.

Coverage Area

Not all tractor insurance is available throughout the country; some insurance companies will only offer this type of coverage in select areas where agricultural activity is most prevalent. Other insurers may not have a nationwide footprint to extend coverage to every corner of the U.S., focusing instead on a more localized customer base. As such, the best small farm insurance may vary depending on what is available in the farm owner’s region. Coverage area may also inform what types of perils are included in a tractor insurance policy. For instance, an insurance provider based in North Dakota could be more likely to cover snow-related damage than one focused solely on the Southern California market.

AM Best Rating

AM Best is one of the foremost credit-rating agencies in the nation—one with a specific focus on the insurance industry. The agency independently assesses the creditworthiness and financial health of insurance providers, rating them on a proprietary scale ranging from A++ to D. Checking for high marks from AM Best is important when comparing insurance options because a company with strong financials ought to be able to consistently pay out claims whenever needed. Customers can likewise feel confident that a well-rated insurance company will continue providing coverage for the foreseeable future.

Quote Process

An insurance company’s quote process can have a huge impact on the customer experience, either starting off on the right foot or creating unnecessary friction from the outset. Getting a quote is easier than ever in the digital age, but some insurers still insist that potential customers contact an agent over the phone to see how much coverage might cost them. The best farm insurance company operating in any given region may be able to provide a quote through text message or online forms, making it easier for farm owners to shop around and find the best tractor insurance at their preferred price point.

Claims Process

When it comes time to actually file a claim on damaged property and recoup any losses, expediency is of the utmost importance. While the insurance industry may not be known for speed and efficiency, today’s best tractor insurance companies try to streamline filing a claim as much as possible. Policyholders may have the option to file a claim online or through a mobile app, tracking the status of their claim from origination to payout. With so much variance in how claims processes are managed in this space, a robust claim management system can set an insurer apart from the competition.

Types of Coverage

Tractor insurance rarely—if ever— provides one-size-fits-all coverage. There are many types of coverage for policyholders to consider, which will impact both the extent of coverage and the cost of the policy. In regard to tractor insurance specifically, property, collision, liability, blanket, and scheduled are among the most common forms of coverage.

Blanket and scheduled are two coverage options in particular that farmers should acquaint themselves with. Blanket coverage applies to the entire property, including all equipment stored or operated there. Scheduled coverage, however, requires each covered piece of property to be itemized individually. Farmers may need to continually update the listed value of farm property when using scheduled coverage, as commodities like crops and livestock may fluctuate in value throughout the year. The best farm insurance companies may offer either blanket or scheduled coverage—or possibly both—to insure agricultural equipment.

Types of Perils

Farming equipment may be subject to any number of perils depending on their use and surroundings. Tractor insurance can cover many of the same perils one might expect in the best homeowners insurance policies: fire, smoke, wind, and lightning, to name a few. Because it insures vehicles, this type of policy may also share some similarities with auto insurance coverage, including collisions, rollovers, and liability protection if the tractor causes property damage or injury to another party. Due to the unique nature of farming machinery, the best farm and ranch insurance companies often cover events that wouldn’t be normally covered in other environments or situations, such as internal damage sustained through the ingestion of rocks, stones, and other materials.

Deductibles and Coinsurance

Even with the best tractor insurance policy in place, policyholders may be required to pay some of the cost of replacing or repairing covered property. In many cases, customers will need to pay a deductible before their insurance pays for remaining repair or replacement costs. The amount owed on a deductible will likely vary from insurer to insurer.

There’s also coinsurance to consider. Policyholders may already be familiar with coinsurance through the lens of health insurance, but it has a very important function with farm or tractor insurance as well. Policyholders may misjudge the value of their farm property—including machinery, structures, crops, and livestock—and often to their detriment. When it comes time to file a claim on farm or tractor insurance, customers may find that they purchased less insurance than needed to cover the full value of their property. If this occurs, insurance companies will assess a coinsurance penalty to help bridge the gap between the cost of replacement and the amount of coverage purchased.

Our Top Picks

When looking for the best tractor insurance, it’s important to consider every factor that might impact the policyholder, including covered events and vehicles, AM Best ratings, coverage areas, discounts, and additional services.

Best Overall

American Family Insurance

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  • Coverage area: 19 states
  • AM Best rating: A
  • Quote process: Online, agent
  • Claims process: Online, phone, app


  • Wide range of coverage options for tractors and other farm equipment
  • Open perils coverage
  • Replacement cost coverage for newer farm equipment
  • Fast and easy claims process via app


  • Limited peril coverage in basic policy
  • Limited coverage options for older machinery

Why It Made the Cut: American Family Insurance (AmFam) offers extensive tractor insurance policies covering numerous perils as well as a broad range of farming equipment beyond tractors alone. American Family Insurance provides tractor insurance that can include a wide variety of machinery ranging from combines and planters to irrigation systems and farming tools. Although a basic policy includes limited peril coverage—windstorms, lightning, fire, and collisions, among others—customers have the option to expand on this through open perils coverage. This policy protects against any peril at all, aside from any listed exclusions. Equipment that is more than 10 years old may not be covered for total value replacement, but customers can insure newer machinery manufactured in the last 10 years for the full cost of replacement. AmFam also distinguishes itself with a customer-friendly mobile app, which policyholders can use to quickly and easily file claims rather than going online or contacting an agent over the phone.

Best Total Farm Coverage


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  • Coverage area: 43 states
  • AM Best rating: A+
  • Quote process: Online, phone, agent
  • Claims process: Online, phone, agent


  • Extensive blanket coverage for farm owners
  • Optional scheduled coverage for expensive equipment
  • Coverage options for rented, leased, or borrowed tractors
  • No deductible for cab glass coverage
  • Convenient claim updates via text message


  • No stand-alone tractor insurance policies

Why It Made the Cut: Nationwide’s AgriChoice blanket farm insurance can provide comprehensive coverage for farm owners, with the option to purchase additional insurance through scheduled coverage. With Nationwide’s blanket farm insurance, policyholders may be able to cover all of their tractor insurance needs with a single policy. The AgriChoice policy covers farming machinery such as tractors, irrigation equipment, supplies, structures on the property, and even livestock. While blanket coverage means customers are not able to buy tractor insurance separately, policyholders do have the option to purchase additional scheduled coverage for expensive equipment that may require extra insurance. Coverage options extend to a variety of farming vehicles and equipment, including tractors that have been rented, leased, or borrowed from other parties. In addition, customers are not required to pay a deductible when filing a claim for broken cab glass, so Nationwide will cover the entire cost of repair or replacement in those situations. After a claim has been filed, policyholders will receive regular updates through text messages, allowing them to check the status of their claim at any time.

Best for Discounts

Farm Bureau Financial Services

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  • Coverage area: 14 states
  • AM Best rating: A
  • Quote process: Phone, agent
  • Claims process: Online, phone, agent


  • Annual coverage review identifies gaps and potential discounts
  • Discounts for bundling and switching from a competitor
  • Replacement cost coverage for newer farm equipment
  • Optional uninsured or underinsured motor vehicle coverage and roadside assistance


  • Information about covered perils not readily available online
  • No online quote option available

Why It Made the Cut: In addition to offering numerous discount opportunities, Farm Bureau Financial Services (FBFS) conducts an annual coverage review to check for additional discounts customers may be able to use. Farm Bureau Financial Services goes to great lengths to ensure customers receive the right amount of coverage to meet their needs. An annual coverage review assesses current insurance policies, flagging coverage gaps and unnecessary expenditures. These reviews also look for potential discounts that customers aren’t currently using, helping them to maximize their cost savings. Additional discounts are plentiful, as policyholders can cut down on their insurance costs by bundling multiple policies or switching over from a competitor to start a new policy with the company. Although online information is limited—prospective customers may have to reach out to a representative to learn more about covered perils and receive a quote—this approach enables FBFS to create more accurate and customized insurance quotes. The insurance company offers optional motor vehicle coverage to provide protection in the event of an accident for tractors that travel on a public road. Customers can also take advantage of optional roadside assistance coverage if a covered vehicle breaks down when moving from one location to another. In addition, customers can choose to purchase replacement cost coverage for newer vehicles and equipment, which covers the full cost of replacing critical machinery that cannot be repaired or salvaged.

Best for Antique Tractors


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  • Coverage area: 50 states
  • AM Best rating: A
  • Quote process: Online, phone
  • Claims process: Online, phone, agent


  • Specialty in insurance policies for retired antique tractors
  • Full insured value of tractor paid out after a covered loss
  • Option to bundle tractor insurance with classic car insurance
  • Parts finder service helps track down hard-to-find antique parts
  • Nationwide availability


  • Tractor must be at least 25 years old to qualify
  • Policies are underwritten by a third party

Why It Made the Cut: Hagerty specializes in insurance for vintage cars and retired vehicles, making this insurance provider a natural choice for anyone looking to insure an antique tractor. Finding the best farm tractor insurance for an antique can be difficult, but Hagerty offers specialty insurance to cover older vehicles that are no longer in use. Although a retired tractor may not be subject to the wear and tear of day-to-day operation, the best old tractor for small farm use can still hold a great deal of value, and farm owners may want to insure this machinery in case of damage or theft. Naturally, because Hagerty specializes in antiques, newer tractors are not eligible for coverage— only farm equipment that is at least 25 years old qualifies for this insurance. That being said, Hagerty’s Guaranteed Value policies ensure that claims are paid out in full for qualifying vintage vehicles. Although its insurance policies are underwritten by a third party, Hagerty oversees a nationwide footprint so farm owners can sign up for coverage no matter where in the country they are located. The company also runs a parts finder service, helping customers search for parts to repair and restore antique vehicles. Policyholders looking for a discounted rate have the option to bundle tractor insurance with Hagerty’s other policies, including insurance for classic cars and collector vehicles.

Honorable Mention

Travelers Insurance

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  • Coverage area: 50 states
  • AM Best rating: A++
  • Quote process: Agent
  • Claims process: Online, phone, agent


  • Coverage options for equipment breakdown and disruption of farming operations
  • Superior A++ AM Best rating
  • Nationwide availability


  • No stand-alone tractor insurance policies offered
  • No online quote option available

Why It Made the Cut: Earning a superior rating from AM Best, Travelers Insurance is a reliable option for farm owners looking for an insurance company that stands on solid financial ground. Travelers Insurance may be a good choice for farm owners who prioritize financial stability and nationwide support over specialized tractor insurance policies. AM Best has bestowed an A++ rating—the highest rating possible—on Travelers, reflecting the insurance company’s strong financial backbone. Travelers also serves the entire nation, which may not be the case with smaller and more specialized providers. Potential customers will need to speak directly to an agent to get a quote, but this hands-on approach could also lead to more detailed quotes tailored to the circumstances and needs of the farm owner. Although Travelers does not offer stand-alone tractor insurance, coverage for farm vehicles is included in the company’s agriculture insurance products. Customers can also purchase additional coverage to insure against equipment breakdown that may disrupt their farming operations. S

Our Verdict

American Family Insurance gets the nod for Best Overall because of its numerous coverage options, open peril coverage terms, and easy-to-use mobile app. We selected Nationwide for Best Total Farm Coverage because of its extensive blanket coverage along with the availability of separate scheduled coverage terms.

How We Chose the Best Tractor Insurance Companies

Tractor insurance can come in many different packages, including stand-alone policies and coverage baked into blanket farm insurance. With that in mind, we looked at insurance companies offering either blanket insurance or scheduled insurance—or both, in some cases—to cover tractors and other farm equipment. Coverage area is another important factor to weigh, with some providers delivering insurance to the entire nation while others are limited to specific regions. Because farms may rely on any number of vehicles, we considered the type of machinery included in tractor insurance policies. As with any type of insurance, we explored quote and claim processes to ascertain which companies offered customer-friendly options.

Before You Choose One of the Best Tractor Insurance Companies

When shopping for the best tractor insurance, it’s important to remember that not all farm owners will need stand-alone coverage for their vehicles. Blanket insurance policies may include every piece of machinery used on the property, including tractors. Also, tractor insurance may cover different perils and vehicle types—some policies only cover antique tractors while others only insure newer vehicles—so farm owners should keep those considerations in mind.

It’s also recommended that prospective customers ask about the claims process as well as any coverage limits that might prevent them from receiving the full value of a covered vehicle in the event of a claim. Agricultural machinery tends to be much more expensive than consumer-grade lawn tractors, so farm owners should check replacement costs and policy limits before choosing an insurance provider. Although some insurance companies do not offer online quotes, it may be a good idea to reach out to those insurers anyway to cover the most ground when searching for the best tractor insurance available.

Cost of Choosing One of the Best Tractor Insurance Companies

The best tractor insurance may not necessarily be the one at the lowest price point. Whether farm owners select blanket coverage or stand-alone tractor insurance, the cost of those policies will depend on a variety of factors including the specific terms selected. The size of the deductible, additional coverage such as liability, and applied discounts will all impact the total cost of insurance. The vehicle itself may be the most important factor to consider, as the type, age, value, and condition of the tractor or machinery will determine how much coverage is needed and at what price point.

The Advantages of Choosing One of the Best Tractor Insurance Companies

Farms rely on agricultural machinery to continue operating from day to day. Independent farmers, in particular, depend on the best tractors for small farms to tend their fields and harvest crops every year. Any equipment failure could disrupt operations, costing farmers a great deal of money while essential vehicles like tractors are repaired or replaced.

The best tractor insurance can protect against such financial catastrophes by helping farmers cover vehicle expenses, getting agricultural operations up and running again. The best tractor insurance companies can offer many benefits to farm owners, including:

  • Stand-alone or blanket insurance that covers the cost of repair or replacement for damaged or stolen vehicles.
  • Tailored policies to insure antique and vintage tractors and other farm equipment.
  • Additional liability and collision coverage in the event the covered vehicle is involved in an accident on a public road.


Farming equipment is a critical investment for farmers everywhere, and it’s essential that proper coverage is obtained to protect this machinery in case of damage or theft. Navigating the complex world of tractor insurance can seem daunting, but farm owners can easily address some of their most fundamental concerns before going out in search of the best tractor insurance.

Q. How much do tractor insurance policies cost?

Tractor insurance costs can vary depending on the value of the covered vehicle, its age, coverage amount, deductible, and policy terms selected. Some insurers may offer lower rates and applicable discounts, which further drives the need to shop around and compare insurance providers.

Q. How can I choose the best tractor insurance policy for my farm?

The best tractor insurance will be tailored to the needs of the policyholder. Farm owners should consider what’s needed in a tractor insurance policy in terms of the coverage amount, covered perils, customer support, claims processes, and other factors that may apply to their unique circumstances.

Q. Do I need tractor insurance?

Farm owners who have a blanket insurance policy covering their entire farmstead may not need separate tractor coverage. Even with blanket coverage, though, farmers may still wish to insure their tractors and other farm equipment separately—in particular, if the value of the property exceeds their coverage limits.

Stand-alone tractor insurance can also cover perils not included in some farm insurance policies, giving policyholders additional peace of mind. Farm owners may also need separate tractor insurance if they operate the vehicle on public roads—for instance, transporting harvested crops from one location to another.

Q. What damages are covered under tractor insurance?

Exact coverage will depend on the terms of the insurance policy, but tractor insurance frequently covers theft, vandalism, accidents like rollovers and collisions, and weather-related damage like snow and lightning. Tractor insurance may also include liability coverage, which could pay for damages if the tractor causes third-party property damage or bodily injury while it’s being operared, or if it is involved in an accident.

Q. Is tractor insurance compulsory?

Unlike auto insurance, which every car owner must possess by law, tractor insurance is not required to operate an agricultural vehicle unless it will be operated on a public road. That being said, if a tractor is financed with a loan, the lender will likely make tractor insurance compulsory to protect its investment.

Q. Does Geico offer tractor insurance?

In addition to standard auto insurance, Geico offers coverage for several types of vehicles including commercial vehicles, which may include tractors and other farm equipment. Prospective customers will need to contact a Geico representative to verify that tractor insurance is offered and see what terms are included.

Jeff Keleher Avatar

Jeff Keleher


Jeff Keleher joined the Bob Vila team as home finances editor in May 2022. With a decade of professional writing experience, he has created heavily researched educational content for mortgage lenders, financial service firms, and insurance companies. As a homeowner himself, Jeff continually strives to simplify the complexity of home finances so consumers can make the best choices. When he’s not busy writing, he enjoys cooking, playing guitar, and taking on new DIY projects around his 130-year-old house.