Re: What Do You Know About Liability Insurance

Posted by paul on April 20, 2004 at 07:59:36 from (66.60.196.155):

In Reply to: What Do You Know About Liability Insurance posted by David on April 19, 2004 at 15:14:36:

I know it varies some with each state, and you failed to tell us yours....

In general most states only require a SMV triangle in daylight, and some sort of lighting plus the SMV at night. Lighting requirements vary by state.

Some states have different rules if you are not actively farming with your implements, as to licence plates & such.

If you are _farming_, most states have no other _requirements_.

However, a certain percent of people in cars are very stupid, and the laws of the USA allow & encourage stupid people to sue people with assets to gain money.

You would be extremely foolish to _not_ have a good liability policy that, for sure, covers your use of your tractors. You could lose everything you own without it. Even if you have done nothing wrong & the dummy in the car has no basis at all to sue you, the legal & court costs will drain you. Much better to have the insurance co foot that bill. _any_ dummy can sue you for _anything_ at _any_ time and will find others to foot their bill on this. We live in a weird country on this.

Insurance agents sometime want to make a sale and don't quite grasp the finer points of a policy. You & I can't possibly understand all the fine print and the verbal stuff the agent tells you doesn't mean diddly. Be sure you find a good agent, and work out the very sticky points of a farm policy, a homeowner's policy, & how it applies to your implements and the way you use them. The insurance company is happy to cash your checks for years, but if an issue comes up they will go over those points with a fine tooth come rather than pay out a million bucks - leaves you on the hook.

--->Paul

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