Kubota Insurance

[MachAF]

About to purchase a Kubota L3560 and finance at 0%. The dealer said $41 a month or $495 a year for KTAC insurance. Seems a little bit excessive, since he originally estimated $25 a month

Waiting on a quote from my home owners insurance.

What are you fella's paying for similar valued tractor?

Thanks

Yes I am frugal but, I'm trying not to be a cheap ***.

 

[Ortimber]

KTAC insurance likely covers more than your home owners policy. At least mine did. I take some of my equipment off of my property. Homeowners policy wouldn’t cover that w/o an additional rider.

 

[CincyFlyer]

KTAC insurance likely covers more than your home owners policy. At least mine did. I take some of my equipment off of my property. Homeowners policy wouldn’t cover that w/o an additional rider.

Exactly. My policy ends at my property line, unless I pay a few hundred bucks a year extra (depending on whether I want commercial coverage, or just "off property" for personal use.)

 

[sdquick]

When I researched, it seemed like the price for the homeowners (marine rider) policies varied by region so that some were cheaper and some more expensive than Kubota. I went with the Kubota insurance because in addition to off property coverage, the other factor that was the ability to have the Kubota dealer deal with both the repairs and insurance rather than the typical conflict between what the repair shop charges and what the insurance company wants to pay.

 

[MachAF]

I called KTAC, they told me it must insured off my property. I stated that I will never use it off my property, she went on and on about if I needed to take it to the dealer for maintenance.....

 

[kthompson]

Most likely the Kubota insurance covers better than your homeowners. Homeowners might cover as well but I expect the Kubota covers accidents damage and doubt your home owners does. HO may cover theft and say fire and might cover liability and the Kubota might not cover that.
Each company should be able to give you simple list of their coverage. This from an insurance agent and yes coverage on such varies between companies and states.

 

[scatterlandsfarms]

I bought a new tractor 2 weeks ago.. Farm bureau is my Ins 150.00 a year covers about everything

 

[seasled]

I bought a new tractor 2 weeks ago.. Farm bureau is my Ins 150.00 a year covers about everything

Without an insured value, your price is meaningless.

 

[seasled]

I bought a new tractor 2 weeks ago.. Farm bureau is my Ins 150.00 a year covers about everything

Without an insured value, your price is meaningless.

 

[scatterlandsfarms]

Without an insured value, your price is meaningless.

19500.00

 

[KTAC]

What's your deductible? A farm policy is comparable to KTAC when it comes to coverage but typically has a higher deductible which gives you a lower premium amount.

 

[scatterlandsfarms]

100.00 dollar deductable broad peril policy theft , fire , wreck on and off trailer , tornado , flood ect

 

[Haneyrm]

Check Case New Holland financial services. Just insured new tractor and implements for $165 per year. This is for $24k coverage with $1,000 deductible. They insure all tractor brands.

Oddly enough, Farm Bureau was $600 per year for same coverage. That surprised me.

 

[scatterlandsfarms]

Wonder why farm bureau rates are so different from State to state I have noticed that before

 

[skipperbrown]

When I financed my 3940 through Kubota's 0% plan several years ago, I had to buy their insurance. I didn't have an option to use another insurance company. The only benefit the Kubota insurance offered over my HO policy was it covered any loss anywhere including I believe transportation losses (like falling off a trailer).

 

[prichard]

When I financed my 3940 through Kubota's 0% plan several years ago, I had to buy their insurance. I didn't have an option to use another insurance company. The only benefit the Kubota insurance offered over my HO policy was it covered any loss anywhere including I believe transportation losses (like falling off a trailer).

As far as I know that is inaccurate. I'm not saying you were not told that, but it was very clear I needed coverage but could source wherever I liked. KTAC was the best coverage for the cost in my case.

 

[KTAC]

Check Case New Holland financial services. Just insured new tractor and implements for $165 per year. This is for $24k coverage with $1,000 deductible. They insure all tractor brands.

Oddly enough, Farm Bureau was $600 per year for same coverage. That surprised me.

KTAC would be about $375 per year and a $250 deductible. If you file one claim, the combination in money saved with KTAC (deductible + annual payment) is better than both the CNH and farm policy. Just saying...

 

[450]

KTAC,

Will KTAC cover any brand tractor? If so will they insure a tractor in Alaska? Value would be around $40K. Thanks

 

[TheMan419]

KTAC would be about $375 per year and a $250 deductible. If you file one claim, the combination in money saved with KTAC (deductible + annual payment) is better than both the CNH and farm policy. Just saying...

If you have a claim. What % of tractor owners have a claim in a given year?

 

[Jstpssng]

I put mine on my auto policy; with full coverage and $250 deductible I pay 253$/yr. I have 1/4 mile of road frontage so it would be foolish to go without the liability, which you won't have with a marine policy. It's still a commercial policy from back when I was self employed, I have more liability insurance than most cars on the road.