Comparison Choices, Choices, Too Many Choices

[tjkubota93]

Is homeowners really costly were you live? I think I pay $700 a year for a $200,000 policy, man if you get so much as a **** squirrel that chews your wires and your house burns down it will cost a fortune to replace it, I dislike insurance company's with every fiber of my being but for your home they are a necessary evil..

Whut he sed. ^

 

[Diggin It]

^^ Close to double for close to half.

 

[atsah]

My aunt wont pay for it either, she is 80 years old and never had homeowners.. On the other hand on two occasions that I can remember we pitched in at work to help two people that lost there homes with no insurance, the guy at the end of my road lapsed one day and the **** house burnt THAT day and they would not cover it.. He paid for homeowners for 30 years, what a nightmare..

 

[4570Man]

My insurance guy charges 1 percent of value to insure equipment against theft of fire. That’s not much money to sleep good at night. And unless you’re filthy rich not paying homeowners insurance is foolish IMO.

 

[wagne223]

It was down to the JD 1025R, Massey GC-1710 and LS MT-125. I compared everything I could and all three machines seem very close, but with a slight advantage to each one in some areas. LS and Massey were a bit less than JD but not enough to tip the balance. Until today. Massey came up with a good deal on a Woods tiller, but there was an issue with the finance company who wanted to add another $15-20 in fees to each monthly payment for insurance on the machine since I don't currently have Homeowners. LS says their finance company doesn't make that requirement. And we found a lower interest rate which cuts the total payback by a couple of thousand dollars. That gives me enough to add their tiller and subsoiler into the deal. He also said he'd load the tires with Rimguard for no extra cost.

So, unless something significant changes (or somebody wakes me up to something I've missed), it looks like I'll be going Blue sometime tomorrow.

The dealer may have told you that insurance was not a requirement, however, let us know what the underwriters say when your deal is presented to them.

I have never seen a loan, that used collateral, that did not require the collateral to be insured.

In fact, if you have insurance to get the loan, then cancel it, the lender will insure the collateral and charge you. Usually at a much higher rate.

I know 2 people that bought new ATV's and had insurance but not enough. Both were stolen. Guys had to pay around $3k to satisfy the loan on something they no longer had.

Of course if you dont have insurance on your home, you obviously only live for today, and dont care about your family's future (if you have a family).
So you would just let the tractor loan go to collection and ruin your credit if something should happen to it.

Dont get me wrong, I'm not judging. Most people are just not willing to assume that type of risk.
I'm not built for being homeless or penniless so I cant understand that risk.

 

[Diggin It]

Just got the call. Approved for the full amount, no down payment. Once I sign the papers in the next few days, I should take delivery early next week.


But I won't believe it until it's in my driveway.

 

[atsah]

Just got the call. Approved for the full amount, no down payment. Once I sign the papers in the next few days, I should take delivery early next week.


But I won't believe it until it's in my driveway.

Congrat's on the new tractor.. Read the contract over very carefully before you sign it, sometimes in our new toy excitement we don't take the time to read the whole contract and there have been times when the salesperson through the contract at me and tried talking to me the whole time I was trying to read it so that I might not catch something, car dealers do this all the time..

 

[coobie]

^^ Ding, ding, ding!!!

And no loss of any kind in over 20 years, so all that premium money saved is now buying me a new toy. I'll have to get something though, but I didn't want it tied to the credit approval.

Like I tell my kids and grand kids life is full of choices good ones and bad ones.Good luck

 

[LD48750]

I have never paid for loaded tires on the four tractors I have bought, not requiring insurance on a tractor and implements that's financed to someone with no homeowners is surprising, if someone steals it or it burns up somehow they are coming after you for the amount still owed on a tractor that you no longer have.. Read the fine print, there has to be something in the finance doc's that protects there investment.

There is, my signature.
I buy it I say I will pay for it.
Something happens to it while I own it, doesn't change the FACT I agreed to pay for it.
So I continue to make loan payments and STILL don't make insurance payments that would have continued for the rest of my life. (or at least until I sold the tractor)

 

[atsah]

There is, my signature.
I buy it I say I will pay for it.
Something happens to it while I own it, doesn't change the FACT I agreed to pay for it.
So I continue to make loan payments and STILL don't make insurance payments that would have continued for the rest of my life. (or at least until I sold the tractor)

The insurance payment on a tractor is minimal and they last as long as there is a lien on the tractor. What is your point?