12/12/2023
7 things you need to know about Vintage Tractor Insurance
Vintage Tractor Insurance (also known as Classic Tractor Insurance or Antique Tractor Insurance) is designed to protect treasured agricultural vehicles that are enjoying a more relaxed life in retirement. Whether you have a Fordson Dexta, Allis-Chalmers or even a David Brown tractor, it’s vital to find a Vintage Tractor Insurance policy that suits both your vehicle and its current use.
To help you understand the Classic Tractor Insurance options available, this article explores some of the key things you need to know before buying insurance for vintage tractors.
1. What counts as a vintage tractor?
To get Vintage Tractor Insurance, your classic tractor typically has to be at least 30 years old – depending on the insurer.
That’s because many modern tractors come equipped with state-of-the-art technology, which means they pose different risks when it comes to damage, tractor theft and use.
Plus, your vintage tractor must no longer be a working tractor. It can only be used for demonstrations at shows or for other educational purposes.
2. Taking classic tractors to shows
If you’re planning to take your vintage tractor out to an agricultural event or a classic vehicle show, the organiser will want you to have insurance in place. Full Road Traffic Act cover or Public Liability Insurance will normally be specified.
This protects you against legal action if a member of the public claims that they – or their property – were harmed as a result of your vintage tractor at an event.
3. Using your vintage tractor for weddings
A classic tractor can make a memorable ride for newlyweds, so if you want to offer up yours to friends or family for their big day, some Vintage Tractor Insurance policies will cover this.
However, if you’re planning to rent out your vintage tractor for a fee, Classic Tractor Insurance probably won’t include it. This is because your loan will count as ‘hire and reward’, which is excluded on standard Vintage Tractor Insurance UK policies.
If you want to hire out your classic tractor, make sure you let your Vintage Tractor Insurance broker know so that they can help you to find the right policy. You should consider taking out Public Liability Insurance too.
4. Agreed value
Vintage Tractor Insurance policies often include an ‘agreed value’ clause. That means you can agree on the value of your classic tractor with your insurer when arranging your Classic Tractor Insurance policy. This will typically involve completing a form to confirm your tractor’s condition and supplying some photos of it.
If there is a total loss of your vintage tractor, your insurer will pay out the amount agreed rather than other vehicle insurance which works on market value. In simple terms, it means you receive a set payout, which is ideal when protecting what is likely to be a valuable asset – and your pride and joy.
Read more about Agreed Value Insurance and how it works.
5. Laid-up protection
Not all owners register their vintage tractors for road use. Often, they’re stored away and only brought out for shows and events. As a result, some classic tractor owners don’t buy insurance for stored vehicles. They either haven’t investigated to see if specific cover is available or don’t see a risk because their antique tractor is in secure storage.
However, buildings can catch fire or be broken into, so your valuable asset does face risk, albeit very much reduced, while in storage.
Contrary to popular belief, laid-up cover is available in the vintage vehicle insurance market. It can prove to be a cost-effective solution that protects your classic tractor against accidental damage, fire or theft while in storage.
6. Storage location
When you talk to your insurance broker about Classic Tractor Insurance, they will need to know where you keep your vehicle.
To reduce the risk of theft, you will probably need to keep it in a locked building overnight. This doesn’t necessarily need to be at your home, but the higher value your vintage tractor is, the more likely you will need to keep it in locked storage.
If you keep your vintage tractor elsewhere, such as a private compound or similar, let us know. Depending on the value of your vintage tractor and your location, we may be able to find a policy to suit you.
Remember: for Vintage Tractor Insurance, your tractor should no longer be used for agricultural work. If you intend to keep your classic tractor on a farm, insurers may be a little wary! To reduce the risks, you will need to find a secure location for your tractor and reassure the insurer that it will not be used for farm work.
7. Extend your Vintage Tractor Insurance
When it comes to insurance for vintage tractors, there is a range of supplementary policies that can be used to protect against other, related risks. Our Club Classic team is often asked about:
Accessories: If you have a vintage trailer or implements associated with your classic tractor, for instance, you’ll need appropriate insurance.
Event Insurance: If you are in a club that wants to actively display and demonstrate its tractors, you will need Public Liability Insurance.
Workshop Insurance: If you keep your vehicles, tools and spare parts in a workshop, cover can often be arranged for these – as well as the building in which your vintage tractor is kept.
Of course, there are other insurance products available too, but these are the ones we’re asked about most frequently. If you have any questions about what’s covered as part of your Vintage Tractor Insurance policy and whether any additional protection is needed, our brokers can provide more information.
Find out more about Vintage Tractor Insurance
To find out your Vintage Tractor Insurance cost, contact our Club Classic team today.
Simply call us on 0330 055 2659 or email Carly.Nineham@onebroker.co.uk.
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