tractor insurance

[art wannamaker]

Hi i am buying a new kubota m 6060 the inurance kubota offers is nice but seems pricy about 450 a year o n this tractor what other insuances are out there that may be better thanks art

 

[jeff9366]

As you will find, extension of Homeowner's Insurance, your other option, is more costly and less comprehensive. The one claim I had was handled expeditiously by KTAC and the dealer.

Few services or products receive such consistently favorable comments on T-B-N.

LINK: Search Results - TractorByNet.com

 

[DT86]

Having recently made a claim on Kubota insurance (KTAC) I can say it was worth every penny I've paid into it. Stress free, no hassle and no BS! (At least not from KTAC).

I made one phone call to them and the dealer did the rest.

 

[crazyal]

You can call your insurance agent and ask what options are available. I had a marine inland policy on my backhoe but I doubt it was any cheaper than what Kubota offers. For my tractor my homeowners covers my tractor very well (others may not) but I'm limited to being on my property, maintaining my right of way leading to my property, or taking it to a dealer to get serviced. I didn't get a loan for my tractor so I didn't have to deal with finding out if my homeowners insurance would be enough to qualify for coverage for a loan. If you do go with your homeowners coverage give then the serial number and get it in writing as to what they cover.

 

[MHarryE]

My homeowners covered my first CUT for a very low price, but there were limitations. Like someone mentioned, no insurance once off your property. Then I went into partnership on the farm and got farm insurance which covers me for everything up to 200 miles from home. The base policy is not inexpensive but the coverage for each tractor is low. From what people have said KTAC covers expenses that other insurance wouldn't like a mechanical failure not covered by warranty. Makes sense because if the tractor is broke down, it's value to Kubota is greatly reduced.

 

[AxleHub]

Hi i am buying a new kubota m 6060 the inurance kubota offers is nice but seems pricy about 450 a year o n this tractor what other insuances are out there that may be better thanks art

You've gotten some good answers already . . . I'll come from a different direction.

In preparing to invest shortly . . I asked about the cost and coverage on the KTAC insurance ($250 deductible).

Then when checking on my home owner's coverage I specifically asked for info as a listed item on the insurance . . that was cheap but was the same deductible as the house and did NOT cover accidental rollover.

Then I also asked about putting a "rider" on the policy instead (note - that is different than just being listed). The cost for the rider was about the same as KTAC . . but it was 0 deductible, did cover rollover, transport of unit (but not being outstationed).

 

[JOHNTHOMAS]

I currently have KTAC coverage on my RTV1140 and my BX25D1 since both of them leave the home property. I count on my homeowners policy at no additional cost to cover my F3080 which never leaves the home property, my agent is a tractor owning farmer and he says my home tractor is covered but sure not to the extent of the KTAC policy but for free I'm in.
I priced a Marine policy on my F that's at business location and KTAC and since it's paid for I've elected to have no coverage. The Marine policy (Rider to business policy) was about the same as KTAC but no where near the coverage of KTAC. I figured the Marine rider would be cheap adding to current policy but it wasn't so.

 

[plygph]

When I looked into to what KTAC covers it was a no brainer tractor and my implements are covered on site, off site, transporting, no matter who is using it, and transport to and from shop on covered repairs, $250 deductible all for $390.00 it was a no brainer. KTAC price is based on value of equipment. Now lets hope I never need to use it.

 

[plygph]

When I looked into to what KTAC covers, tractor, my implements are covered, on site, off site, transporting, no matter who is using it, and transport to and from shop on covered repairs, $250 deductible all for $390.00 it was a no brainer. KTAC price is based on value of equipment. Now lets hope I never need to use it.

 

[AxleHub]

I won't question that Kubota insurance is good coverage.

However . . its also true that it may not be your best coverage depending on your homeowners company choice.

I'd mentioned in a prior post that there is a big difference in listing the tractor etc. on a homeowner's policy versus having an actual rider put on the policy. And each insurance company deals with it differently.

1. An example is many have an umbrella policy which ties in with liability and other damage issues when it relates to ridered coverages. That existing umbrella does not reach across to kubota insurance in most cases.

2. Business equipment status . . . big difference from home owner's to business policy because you're talking employee and customer coverages etc..

3. My understanding is that Kubota insurance is focused on personally owned equipment. But what about medical coverage from accidents relating to tractor or implements? What about lawsuit liability? What about employees or customers or visitors?

My point is don't assume when it comes to any insurance. Get the Kubota Insurance specifics and take them to your insurance agent. Good equipment insurance may not cover medical, liability, and property damage nearly as well (or maybe not at all in some cases) . . . and your business or homeowners policy may or may not coordinate with something that is not their's.

In my checking of my policy that I have (a very good one) . . a rider costs about the same as Kubota insurance . . but it has $0.00 deductibles and my umbrella coordinates directly for much higher liability and medical coverages. However if I tried to cover the same items on my business policy my costs would be higher but my liability coverage for employee or customer use would be much more extensive than my home owner's or the ktac policy.

Your policies will all be as unique as its owners . . I'd encourage anyone to verify and not assume. It costs you nothing but time but could prevent significant financial issues.

 

[JOHNTHOMAS]

Put gas instead of diesel fuel in your tractor and run it till it kills it and destroys some parts. No home owners or riders will cover that, I don't think. KTAC will. Liability coverage is usually covered under a homeowners or business owners policy and has nothing to do with the tractor coverage or liability coverage can be bought as a specific policy to cover ones liability and every one should have liability insurance to cover negligent/stupid acts.

 

[jeff9366]

My Kubota dealer told me that KTAC paid for two (2) new tractor engines for one policy holder. He ran his Kubota into his deep pond, not once but twice, in two years. KTAC paid for having my Kubota dealer pull the submerged tractor from the pond and round-trip transportation for repair. KTAC declined to renew the policy.

 

[AxleHub]

Liability coverage is usually covered under a homeowners or business owners policy and has nothing to do with the tractor coverage or liability coverage can be bought as a specific policy to cover ones liability and every one should have liability insurance to cover negligent/stupid acts.

KTAC insurance appears to be good equipment insurance. However if it doesn't have a liability and medical component . . then readers need to understand their other insurance polices need to know about AND have the tractor covered under the umbrella and homeowner's liability side.