Good example of the value of KTAC insurance

   / Good example of the value of KTAC insurance #1  

MessickFarmEqu

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Joined
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Lancaster County, PA
We had a customer in that bought a new BX with KTAC insurance. A few dozen hours into using the machine he had a PTO shaft come off a rear mower that he did not secure properly. The spinning shaft tore up the PTO spline and broke a corner of the transmission housing. The nearly $5000 repair was paid with just a $250 deductable. No insurance adjusters, no headaches, we fixed up and away he went. Great example of why tractor insurance is a good idea.
 
   / Good example of the value of KTAC insurance #2  
Neil, that is an excellent testament to how good the insurance is. One thing I'm not sure of is whether you can buy KATC insurance if you don't have a note/loan with KCC. Do you know if that's the case? While I still have a loan, I'm looking forward to the day I don't.
 
   / Good example of the value of KTAC insurance #3  
Yes, Kubota will insure a non-debted tractor. I have insurance with them for little of nothing and full coverage and am not financed at all. I cannot, for the life of me, see why everyone here does not have said insurance, considering the bang for the buck.
 
   / Good example of the value of KTAC insurance #4  
I wasn't even aware it was available. I am the original owner and have mine kept up very well. Do they have an age limit for the insurance?
 
   / Good example of the value of KTAC insurance #5  
I wasn't even aware it was available. I am the original owner and have mine kept up very well. Do they have an age limit for the insurance?
Not that I am aware.

KTAC Insurance Agency

.

For me, I called and about 15 minutes later with the swipe of the debit card (on their end) I was insured. Papers came in the mail two days later. Annual auto check deduction. Nothing to think about unless I happen to need it.
 
   / Good example of the value of KTAC insurance #6  
14 bucks a month on a new B2920. I was hoping it was like having really good health insurance, once you have it you complain that you never use it!
So far-so good
 
   / Good example of the value of KTAC insurance #7  
It's insurance. The customer is betting he/she will tear up their tractor. Customer is laying down a sum of money to cover their bet, up front. I've bought eleven (11) Kubotas in a bit over six years. How much would I have paid KTAC Insurance by now if I had bought their insurance betting that I was going to tear up the machines? Over eleven thousand dollars and probably way over eleven thousand dollars. I have not had a single claim on any of these machines that I would have filed with KTAC up to today, maybe one tomorrow but none up to today. If I had wrecked any of these machines or any of them had been stolen, I have insurance at zero ($0) additional dollars cost which would have paid for them. My homeowners insurance covers them at no additional cost. Now, it being insurance I figure I'm over Eleven thousand dollars ahead to pay for any repairs that may come up that my insurance won't pay that KTAC insurance will pay. Get the picture, it's JUST insurance and one decides to take a risk or to pay the money to reduce some risk. If you want to pay the money to cover the remotest of remote possabilities of loss, then pay the money and get it. I feel wonderful that I've never taken it and have saved enough money to buy another tractor with the savings.:D Actually I'm in the majority not the minority of having the experience of never filing a claim against their insurance policy. If we did a survey on TBN of how many have bought additional insurance and how many have actually filed a claim the picture would be clear that claims are really very, very, very rare. Again, how much is additional peace of mind worth to you in dollars?
I used to sell Life insurance and I was convinced that everyone needed life insurance, especially since I made a few dollars for every policy I sold.
I don't sell insurance any more so my opinion is purely from a consumer of insurance products with no possible financial gain from anyone buying or not buying insurance of any type.:)
 
   / Good example of the value of KTAC insurance #8  
I initially declined insurance on my new 3320. Within a month or so of buying it I did $1500 damage to the rockshaft housing. Had to pay it all out of pocket. It really doesn't take much to do a lot of expensive damage to these tractors, and now I have insurance through JD, it was $250 for 4 years with a $500 deductible. Lesson learned for me.
 
   / Good example of the value of KTAC insurance #9  
If I had paid cash for my tractor, and never intended to take it off the property, I likely have NO Insurance at all. I'd have some coverage, in that I have homeowners for liability and some coverage if it burned, and so on. The deductible would be $500.

But, I did not pay cash. Since it is financed, I don't own it yet, and Kubota Finance did not accept my generic homeowners. On my previous tractor, I bought an Inland Marine rider to cover it. This time, I went with Kubota. Only $250 deductible, covers more and the premiums are lower, by a bit.

I have many things that are not individually insured. I "self insure" or I take the risk. The premiums are just not worth it to me. We've dropped collision and comprehensive on our cars, often when they were still worth $10 grand. I just bore the risk. For 40 years, it's worked out well.

No one size fits all on insurance.
 
   / Good example of the value of KTAC insurance #10  
Like JOHNTHOMAS, I don't carry any insurance on my equipment other than my homeowners which automatically covers them on property for theft fire etc., but not mechanical and liability en route between farms. I pay cash for my equipment and over the years have saved enough to pay for any damages.

It is gambling, however, so in spite of the odds being in your favor, I don't know that I wouldn't advise anyone doing it unless they can afford to lose.
 
 
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