New financing tractor insurance

[coolbrze]

I've read some threads that pertain to needing to have insurance on a Kubota when purchasing & financing. Is this true? If so, what kind of insurance do you need?

 

[Tractor Seabee]

Kubota dealers only have KTAC (owned by Kubota) to offer. I was told it was mandatory on Kubota financed tractors; because it covers just about everything except abuse, wear and tear, or maintenance. That way they are protected till it is paid off. There have been other stories here though, also. It paid my $8K damage claim that other insurance I know of would not have. I keep renewing it now.

Stop by a dealer and they will tell you all about it.

Ron

 

[Fallon]

You need replacement insurance on your tractor if you finance it, just like you would if you financed a car or truck.

I researched alternatives to KTAC... All I found were more expensive options with higher deductibles & more restrictions. Some people have had luck with home owners insurance covering their machine. But homeowners almost always means its only covered in your property for personal use only.

I use my machine for side work & I'd have needed a large rider on my homeowners that would have been more than KTAC for a lot less coverage. Add in the fact KTAC has a great reputation and it was a no-brainer to go with them. I called around a bit other than my homeowners & could not find any better deals than KTAC.

 

[coolbrze]

Appreciate it!

 

[jeff9366]

I have made two claims on my KTAC insurance, one claim on each of two tractors, over seven years.

KTAC is excellent for you to deal with and excellent for your Kubota dealer to deal with.

LINK: KTAC insurance - Google Search

 

[oosik]

I financed my Kubota for a short while - getting my finances in order. During this time I had KTAC insurance - it appears to be good, complete coverage and at a reasonable rate. I now insure my tractor and implements thru my homeowners policy. My homeowners policy provides complete coverage and at no added cost. Only restriction - coverage only while on my property.

 

[JB13502]

Another plus with KTAC is that it will cover your tractor while it's off your property, including trailering. Most other policies will only cover damage incurred on the regisistered policy.

 

[Complete Turf Care]

I financed part of the purchase price of my Grand L6060 through Kubota credit and I did not get the insurance through Kubota.

However, I am required to insure it in order to finance it. I got the insurance with my regular insurance agent who handles all of my insurance.

My tractor is not for personal use, it is for business use, so a homeowner's policy is not an option for me. The policy I have was maybe 10% cheaper than Kubota's cost, and I didn't compare the coverage. I just felt it would be easier to keep all my insurance in one place.

 

[MessickFarmEqu]

KTAC is fantastic, and frankly another reason to buy a Kubota!

 

[Ortimber]

KTAC is fantastic, and frankly another reason to buy a Kubota!

I’d have to agree.

 

[coolbrze]

Thanks. Is KTAC for theft, damage, etc. similar to vehicles? Is it something I can keep after paying it off or solely while it's financed?

 

[Fallon]

Thanks. Is KTAC for theft, damage, etc. similar to vehicles? Is it something I can keep after paying it off or solely while it's financed?

Yes.

It's good for any non-maintenance damage to your machine. Brake an axle, window, get it stolen or burned to the ground & you are covered. It replaces the machine. After the financing is paid off you can maintain KTAC. It might change too being insured for a given value at that point (feel free to correct me). If you start KTAC after purchasing the machine I believe it's for a given value rather than machine replacement.

 

[KTAC]

Wow!!! I am impressed with the knowledge you all have of KTAC! Everything you said is correct. KCC does require full coverage insurance during the term of your loan. KTAC provides the required coverage as well as replacement which is meant to keep you buying Kubota. As far as I know, KTAC is the only insurance agency that cares if you keep Orange which means our primary goal is providing the best policy and service we can so you stay with us!

Take care!

Brian Carter
Director of Operations, KCC and KTAC

 

[coolbrze]

Is $500/year a decent price for full coverage w/ full replacement value of the MX5800 for the 5 years it's financed?

 

[Peter 315]

Yes, I would get it I had it on my first tractor....

 

[Cable Guy]

Just went through this also. Had kubota insurance in the past two purchases and never used. Decided to try through my company policy and it was about 600 bucks cheaper total. Lowered payment also by 29 dollars a month. 22 k financed with kubota. The insurance is based on the amount of machine at purchase so. Only thing is my insurance will have a 250 deductible. Was lookingo to lower payment as much as possible.

 

[Rock Crawler]

KTAC is fantastic, and frankly another reason to buy a Kubota!

KTAC actually was one of the major reasons that I bought an orange tractor. I feel that overall, you are more safe with KTAC behind you than a home owner policy that may have limitations or loop holes to allow claim denial. I feel safe based on the actual user testimonies I have read on this site and orange talk that should something unexpected occur and I do not die during the misadventure... KTAC will be there to make me whole again with minimal fuss and muss.

 

[JB13502]

KTAC actually was one of the major reasons that I bought an orange tractor. I feel that overall, you are more safe with KTAC behind you than a home owner policy that may have limitations or loop holes to allow claim denial. I feel safe based on the actual user testimonies I have read on this site and orange talk that should something unexpected occur and I do not die during the misadventure... KTAC will be there to make me whole again with minimal fuss and muss.

I agree 100% with you.

 

[Atchuuu]

Just purchased KTAC on a used tractor and found the price to be reasonable but the service to be excellent. After explaining to one agent what a Kubota is and why I needed it and where it would be kept, etc. etc. I found that this particular company just didn't have experience with tractors.

Called Kubota and literally didn't have to explain anything. Gave them the model, serial number and other equipment along with address and done. Had the application in minutes. Price came to $16.00 per thousand of coverage.