Insurance Tractor insurance?

Jeff396 · Oct 19, 2001

When I made the deal for my new tractor the dealer told me I would have to carry insurance since it was partly financed by Kubota. Now I assumed that I was needing fire and theft and my home owners carrier said that it would be covered. Now I get all of my contracts to sign and I see that I will also need to carry collision.....are they serious? Does anyone get this covered through their homeowners for collision or am I going to have to go through Kubota? Is there actually a lot of trouble with people wrecking these tractors?

Jeff

Yukon · Oct 19, 2001

I have AllState Insurance and they cover it under my homwowners insurance. My agent had to send a letter to my dealer, I'm not sure what type of letter but that took care of Kubota Finance needs. I would not purchase a separate insurance policy.

Bird · Oct 19, 2001

Jeff, I don't know a lot about insurance, except that it's hard to read the actual policy and understand it, but know that you need to take time to read and understand them./w3tcompact/icons/frown.gif It seems that a lot of people have their tractors covered by a homeowner's policy, and of course, I don't know enough about all the different homeowner's policies, but it's my understanding that they would cover fire, theft, storm damage, etc. in most cases but not damage that you might do to the tractor yourself. In other words, if you're mowing the dam on a pond and roll it into the water, turn it over anywhere, or run it into something (or someone else runs into it), I'm not so sure. So I let Kubota insure mine.

Bird

Jeff396 · Oct 19, 2001

But did they specifically mention collision? I just can't imagine homeowners covering that kind of thing. Of course my eyes do tend to glaze over a bit when insurance is discussed! Of course I find out about this on Friday when I can't contact my agent and I need to have all the info sent off by Monday morning. I'm hoping for delivery before next weekend.

Jeff

Jeff396 · Oct 19, 2001

That was my fear and I sure don't want to find out the hard way that it isn't covered for everything. Especially when the dealer told me it would only be another $12.00 a month through Kubota. Not a lot for a 16k tractor.

Jeff

pokbill · Oct 19, 2001

When I checked to see if my L4610 was covered by my homeowner's policy I was told only up to $5000. They offered a rider to cover in full for $4 per thousand per year which I took.

frank_f15 · Oct 19, 2001

i have allstate ins for my home owners and the coverage was good enough for kubota. i only had it financed for 3 months then paid it off. but my homeowners did list kubots a lein holder till it was paid. never heard of collision ins. being needed.

billfires · Oct 20, 2001

Does anyone know if the insurance through Kubota covers liability ( operation on public roads)? I have not been able to get a definitive answer.

Billfires

Bird · Oct 20, 2001

Billfires, how many of us take time to read all the fine print?/w3tcompact/icons/wink.gif I would have thought though that any Kubota dealer should be able to tell you, so I'll quote from my contract, in part, right under my signature:

"INSURANCE FOR BODILY INJURY LIABILITY, PROPERTY DAMAGE TO OTHERS, PUBLIC LIABILITY OR FINANCIAL RESPONSIBILITY LAWS NOT INCLUDED IN THIS TRANSACTION."

Now that wasn't especially fine print on the front of the contract, but on the back of the contract, it also says, in part:

"The purpose of the purchase of the goods subject to this Security Agreement is primarily for business, agricultural or commercial purposes, and said goods will NOT BE DRIVEN UPON ANY STREET OR HIGHWAY."

Capitalization above is as it is on the contract. And I'll have to admit to having not read all of it myself before signing.

Bird