This is a subject that does not come up unfortunately until too late and after the fact in a loss, accident, or damage. Most new tractors sold with dealer financing will require insurance during the life of the tractor loan. Most manufacturers will make this available to the buyer at very low cost BUT..................ONLY for the life of the loan. Once the loan is paid off; no more insurance. Home owners insurance will in "MOST" cases cover a tractor against fire and theft as long as it remains on your property and is used only for upkeep on your property. Here in lies the rub and you may want to verify this with your home owner's insurance. Most insurers consider a tractor to be something along the lines of a lawn/garden tractor. A subcompact utility tractor or a small compact utility tractor they may or may not balk at insuring. Some insurers place limits on hp or refuse to insure what they consider might be an agricultural use machine or commercial type machine. It is a VERY grey area that I strongly suggest you verify with your insurer. This was never an issue until I purchased my 4410 and John Deere required that I insure the tractor. I contacted my insurer, who told me that it was insured for fire and theft as long as it remained on my property and was soley for my own use for up keep of the home property. It did not cover accidents such as a roll over or other events. Since I recently purchase a farm, I found that my insurance company would not cover the farm which left me with Farm Bureau Insurance. They would not cover my farm unless they covered my primary residence so I changed over to Farm Bureau. They also provided me with a special rider that covers my tractor against pretty much most events for about $160. Being that I will be using my tractor at my home residence and the farm eventually; this a bargain considering most insurers will not cover a tractor such as this at all. Usually your auto insurance will cover your tractor if you are towing it and encure a loss but verify this as well. Bottom line is: 1. If you think you are insured with your home owners or auto policy, VERIFY it and VERIFY the insurance coverage limitations. 2. Make sure your insurer is FULLY aware of the size and type tractor you are insuring with them. They may not cover it in the event of loss if the tractor exceeds their specifications as to type, size, and power tractor. The answers you get from your insurance carrier may surprise you. Best to know right up front and clearly what applies to you and your specific situation.