How much to pay for storage?

[Dougster]

Get this - JD insurance was cheaper than our own agent! Our homeowner's here in town doesn't cover it, and the insurance we got on the cabin we put out there doesn't either. Our only choices were to insure it lke a vehicle (they insisted on collision insurance!), or to covert the cabin insurance to a "farmstead" policy. Either choice woulda been several hundred a year. Thru JD, it's $100/year, and they even threw that into the 0% financing (so it added, like, $3 to the monthly payment!).

Question: Will JD allow you to keep insuring it through them once the financing is paid off? And is the tractor insured for its full value? Or just the financed amount? Does the coverage decrease as it is paid off?

I'm wondering if this insurance policy is more to protect JD than it is to protect you... or have I got that wrong?

Dougster

 

[madpogue]

Well, it's insured for the whole value, since we financed the whole thing (zero down). But yeah, good point, we'll have to contact JD about the terms of the policy, and whether we can retain it afterward.