Pro / Cons of KTAC?

[KTAC]

The one thing that separates KTAC every single time is KTAC is owned by Kubota (Kubota Tractor Acceptance Corporation). No other insurance agency that I know of cares if you buy another Kubota or another specific brand... KTAC does. As far as I am concerned (which is a little bias), no other insurance provider comes close to our service. :thumbsup:

Brian Carter
Director, KTAC

 

[cold1313]

Where I'm still thinking on is my new MX5800 ($30k+ machine) plus my F3990 which is a 2014, but that's an expensive machine as well.

Just balancing the risk vs the cost of an (another) annual insurance payment.

 

[Peter 315]

The quote I received was 4242.00 for a l47tlb

 

[Tractor Seabee]

Yes - none of this has to do with my question of why "mechanical breakdowns" are listed under "exclusions" for KTAC yet people still put claims against KTAC for breakdowns?

It seems you have to tie the breakdown into a casualty like turning it over. I had a claim a few years back due to working in my woods; dropped a big limb on the dash cowling tore up some metal and plastic and sheared off the cooling fan blades. After getting approval the dealer shop determined the sheared fan caused over heating of the transmission; KTAC said fix it. A month later paid the deductible on the $8K repair and had it back to work.

After a fan replacement KTAC would probably save money if they paid for the after market under armor as there are no provision that that is your responsibility to do. My dealer charges $400 for a fan replacement. My local mechanic did it for $200. That's less than the deducible for KTAC. I am looking in to how I can install a temp gauge audible signal in the HST for early warning of a problem. We need those after market entrepreneurs to work on these ideas.

Ron

 

[Tractor Seabee]

Second thought; when my 2011 was paid off the price for KTAC did not enough for me not to renew, third renewal coming up Feb and plan to continue. The instance sited in my last may not be covered by some third party insurer. There seems to be excellent communication between dealer shops and KTAC.

Ron

 

[cold1313]

The one thing that separates KTAC every single time is KTAC is owned by Kubota (Kubota Tractor Acceptance Corporation). No other insurance agency that I know of cares if you buy another Kubota or another specific brand... KTAC does. As far as I am concerned (which is a little bias), no other insurance provider comes close to our service. :thumbsup:

Brian Carter
Director, KTAC

Brian - I sent you a direct message - Please check your inbox when you have a moment.

 

[cold1313]

Learned a bit more and I thought I should share it for those considering what to do....

I didn't get KTAC when signing on my tractor - I was still trying to decide the differences between KTAC and my third party quote. It would have been cheaper to purchase the KTAC insurance when signing than at a later date. I decided to wait.

If I had gotten KTAC when signing and changed my mind for whatever reason - I could be refunded but only around 70% of what I paid in the contract. This was the main reason I didn't get KTAC when signing since I was still unsure.

Tractor was delivered, sat in the barn, still less than 1 hour on it since I've been busy and haven't done anything with it. Finally had time to compare KTAC to third party. Spoke to a KTAC agent and Brian Carter, Director @ KTAC (who posted above).
What I learned:
I can still get KTAC for my new machine - annual payment for the insurance. However there is a major difference, which was not covered when I was signing.
Get KTAC @ signing - should you total the machine, brand new replacement, no problem.
Get KTAC AFTER contract is in place - should you total the machine, you get a DEPRECIATED value paid out.

Again, not knocking KTAC - just informing those researching. I would like to get KTAC, but I will not get a depreciated value policy. I can get the same coverage through my State Farm agent and get full replacement value for about the same price as KTAC. It is a stand alone policy with State Farm and I insure the machine for a stated value. If I have a $38,000 policy and my machine ends up in my pond in 20 years, I get a check for $38k. I've questioned my agent every which way and made them call and check on multiple scenarios - to make sure they were right.

So, unfortunately, no KTAC for me. Hopefully this info helps someone else as they are researching their purchase.

 

[HillStreet]

I just had $2300 of work done to the hood, grille, bumper and other stuff under a KTAC claim. The company could not have been better. They issued a claim number, dealer appraised it, parts were ordered and I had it back in five days. I paid the $250 deductible and that was all. I will keep the policy in force.

 

[robertm]

One thing I did not see for consideration is how a tractor on a homeowners policy can be fine and well, but in today's day and age, it seems insurance companies are just waiting for a claim to raise rates or dump a customer. Seems a claim for a tractor on a homeowners policy could be easy for a non-renewal, where KTAC specializes in tractor insurance, thus taking no exceptions to claims.... unless repeated.

 

[cold1313]

One thing I did not see for consideration is how a tractor on a homeowners policy can be fine and well, but in today's day and age, it seems insurance companies are just waiting for a claim to raise rates or dump a customer. Seems a claim for a tractor on a homeowners policy could be easy for a non-renewal, where KTAC specializes in tractor insurance, thus taking no exceptions to claims.... unless repeated.

Agreed. I'm having to go the route of a stand alone policy for my tractor with my insurance company, therefore any claim on the tractor won't effect home owners and a MUCH lower deductible. I would love to have KTAC, but knowing if it were to become totaled and I would get a depreciated value reimbursed - I just can't go that route. My insurance company (surprisingly) is the better option for me.