Comparison Kubota Insurance vs personal

[laen64]

would you reccomend taking the Kubota insurance as opposed to Home Owners only insurance at purchase? Please give Pros and Cons.

 

[JOHNTHOMAS]

I take the homeowners on mine because it covers it at no additional cost. I do have one that I will be using at a business location that I will have my Ky Farm Bureau agent write me an Inland Marine Policy on. Why? Because the homeowners costs me nothing for the required insurance and the insurance coverage that I want. I've sold Insurance and taught Insurance so my opinion for insurance is to cover big expensive costs, not the $100 to $250 costs, I can cover those so I pay less each month and take big deductibles. I've rarely had an insurance claim in 40 years for anything so my course of action has proven itself as being the best for me. People that will have a problem paying a $500 claim but can make the extra $20 dollars a month payment do not need to follow my advise. 10 Kubotas in six years and I've never filed a claim. How much have I saved?

 

[timswi]

Kubota now wants the machine insured on or off the property, although I don't know how strictly they enforce that. Homeowners only covers the machine on your property.

I insured my RTV500 with full coverage through my insurance co. so that I could take it to the sportsmans club etc. $170 per year with a $500 deductable. I don't believe it was full replacement either, current value i believe.

Took Kubota's insurance on the new RTV1100. If I remember, it runs around $180-$190 per year with a $250 deductable. Full replacement value as well. This machine is over twice the price of the previous one. So, based on that, I'd say the Kubota insurance is a pretty good deal.

 

[JOHNTHOMAS]

Kubota now wants the machine insured on or off the property, although I don't know how strictly they enforce that. Homeowners only covers the machine on your property. Some Homeowners cover off of the property, depends on where and why off of the property. I trailer my tractors to the dealer or to store it at another location. That's off the property and it's covered. Your statement is to general. Kubota Credit has accepted all 10 of mine with my Homeowners, last one being last month. I'm suspecting some dealer misinformation and that all the info is not coming from KCC. In their defense, they are not insurance salesmen or loan officers. It's tough enough keeping up with selling tractors and knowing about past and present tractors and capabilities and maybe running their own business.

I insured my RTV500 with full coverage through my insurance co. so that I could take it to the sportsmans club etc. $170 per year with a $500 deductable. I don't believe it was full replacement either, current value i believe.

Took Kubota's insurance on the new RTV1100. If I remember, it runs around $180-$190 per year with a $250 deductable. Full replacement value as well. This machine is over twice the price of the previous one. So, based on that, I'd say the Kubota insurance is a pretty good deal.

Some homeowners cover off property. Check with your agent, that shouldn't be to difficult. Shop 7 states to save $100 on an implement but no shopping for insurance to save $700 to $1200 or more? Doesn't make sense to me.

 

[laen64]

Thanks Guys I knew I would ge the answers. I have checked with my home owners policy and it will cover on the property, while trailering it will be covered on my vehicle policy. so with that said I shouldn't need the Kubota, unless I plan to leave it unsecured off the property. I will have it garaged on the property. Again Thanks guys.

 

[toothdoc]

The Kubota insurance covers so much more than "most" homeowners are going to cover (replacement,etc.). Also, most homeowners has a limit on items like a tractor (ex. they may only pay up to $2000 total on a tractor claim, etc.), so if you stay with homeowners you may need to add a seperate rider for your tractor. Personally, the Kubota insurance was a safety net that will cover just about anything-and it will replace not repair. I have a friend who had some damage done to his tractor at his camp, the Kubota insurance repaced everything damaged with no problems.

 

[hawkhart]

Toothdoc is right, the devil is in the details with coverage on these policies. The situations where a tractor can be damaged are very diverse, and the policies really need to be compared in detail to see if they make sense to you and encompass your uses and locations of your equipment.

 

[JOHNTHOMAS]

The Kubota insurance covers so much more than "most" homeowners are going to cover (replacement,etc.). Also, most homeowners has a limit on items like a tractor (ex. they may only pay up to $2000 total on a tractor claim, etc.), so if you stay with homeowners you may need to add a seperate rider for your tractor. Personally, the Kubota insurance was a safety net that will cover just about anything-and it will replace not repair. I have a friend who had some damage done to his tractor at his camp, the Kubota insurance repaced everything damaged with no problems.

Where did you come up with the limit information? 10 tractors in 6 years, taught insurance and even sold insurance at one time and have never heard of this. If it's true and it's not on most if not all policies, is there anything wrong with adding a seperate rider to homeowners for a few dollars vs several hundreds of dollars with Kubota insurance. Those of you that buy the Kubota insurance and the extended warranty do so and be glad but please stop the innuendo and complete false information concerning other insurance coverage. It's a shop around competetive product. There are slight insignificant items in every policy that usually never matter to 99% of the insureds but the insurance companies put them in to snow customers who are scared and insecure into believing their policy is better than those that don't cover african beetle damage. Buyers, do your own checking and let those that have already bought be happy and convinced they did the right thing and the several hundreds of dollars extra they have payed can help them sleep better at night. If your homeowners will not cover it, get insurance, if your going to use it commercially, get commercial insurance. If your going to volunteer all over town to do free work for friends and family, check with your insurance agent to see if you are covered. Any time you see "most" from someone that doesn't do it for a living, disregard or check.

 

[Sgt Schulz]

Just finished with the insurance on my L2800. $788.00 for the life of the loan. My homeowners would provide limited coverage for free but it will not meet the new requirements set by Kubota. I know that I will pay this tractor off early but for $157.00 a year, what the heck? It was an expense I didn't count on when I was buying the tractor.

 

[timswi]

JT, My homeowners only covers my machinery on my property. Towing is not covered in any way. A seperate rider is needed. Those riders are more expensive than kubota's insurance and they are generally a prorated policy, not replacement value.

I think that Kubota's insurance is a pretty good value in comparison.

Some policies may full cover the machine anywhere. State Farm does not.

Is it possible that you have an umbrella policy, and not a standard homeowners policy?

I asked my agent if my tractor burned up working on the rightaway (not my property, but the only access) it wouldn't be covered. He stressed that.