Insurance john deere vs kubota ins

[ranchland]

Hello all,
i am new to this forum but have been following the threads closely as I am about to make my first tractor purchase. Here is where i am confused. I decided to bite the bullet and start my search for a 50 hp utility tractor and narrowed it down to john deere 5055e and kubota mx 5100 hst. I decided on the 5055e and started the financial process through deere credit. I was approved and the sales person told me on the 60 month loan I was required to insure the tractor for the life of the loan. I said ok and they told me it was $500.00, i thought thats reasonable and the deal was done.
ok, part of the deal was that I wanted r4 tires not r1. They told me it would be november before they could order the tractor from factory with r4s and delivered to me sometime before christmas.
I cancelled the order and went down the street and bought the kubota mx5100 hst that already had r4s on it.
when we did the loan through kubota credit, the insurance was $2000.00 for the life of the loan (60 months).
The tractor will be delivered by the end of this week after tires are loaded for weight and remotes added to rear.
Anyone know why there is such a huge difference in insurance prices?
thanks to any and all for your knowledge about this.

 

[The Bog Man]

You can save a ton of money by getting your own insurance from the same company you use for home and auto. It should be far less than $500 annually.

 

[ranchland]

You can save a ton of money by getting your own insurance from the same company you use for home and auto. It should be far less than $500 annually.

Thanks Bog Man. The insurance is for life of loan 60 months deere total = $500.00
60 months Kubota total= $2000.00.
Not $500. Annually. Sorry for confusion.

 

[TripleR]

Is there a difference in what is covered?

 

[ranchland]

Just got off phone with kubota ins and I explained the same thing to them about "why is there that much of a difference"? The way she explained it is it covers so much more like in 4 years if i bust a radiator it is covered with genuine kubota replacement parts, also it covers a lot I didnt know about. I asked if I could pay $2000.00 up front for the ins to reduce my monthly note and she said "no" the ins is not a seperate entity. Although I could put $2000.00 down reducing the monthly note.
she went on and on about how I would be dealing with kubota employees and not a third party ins co like deere uses. I dont like it when a company berates its competition but I guess they all do it.
anyway my homeowners will not ins tractors.

 

[ranchland]

More confusing than obamacare

 

[BillG_in_TX]

More confusing than obamacare

See this thread: http://www.tractorbynet.com/forums/kubota-buying-pricing/199880-ktac-insurance-agency-kubota-endorsed.html

 

[ranchland]

See this thread: http://www.tractorbynet.com/forums/kubota-buying-pricing/199880-ktac-insurance-agency-kubota-endorsed.html

Thanks this is exactly what I was looking for.

 

[nybirdman]

Don't know for sure but it seems to read that the JD insurance is just for the loan and the Kubota is insurance for the loan and a extended warranty policy.Like I said I'm just guessing,I would quiz the dealers.

 

[Fallon]

My American Family Insurance coverage was going to cost a fair bit more than Kubota insurance. Higher deductible, coverage restrictions (no commercial, "farming" or "ranching") to boot. Ended up being a no brainer. $1,500 on a $22k purchase.