Financing Does Massey financing offer Insurance options?

[Ooklaa]

Well I have an answer to the question of Massey Ferguson insurance as I am looking at the rates and coverages.

We all know Kubota promotes their insurance on Kubotas with their own wholly owned insurance company KTAC.

Well AGCO has something similar.

Coverages from weather, collision, theft/vandalism etc. are pretty comprehensive.

It is a 5%/$500.00 deductible . No liability is included. And it is a combination of loan insurance and damage insurance.

Lets take an example. Lets say you will finance a $15,000 amount over 60 months at an Agco low interest rate. The cost of insurance is about $275.00 for the entire 60 months . . that's about $ 4.80 a month.

Now if you had it only under your homeowner's coverage . . Would tip over be covered . . would being stored or used somewhere else be covered . . how about flood, hail or other acts of nature be covered ??? If it even was covered . . at what deductibles?

What insurance did you use axle? and the price was only 275 for loan term?

 

[AxleHub]

What insurance did you use axle? and the price was only 275 for loan term?

Greetings Niko,

I got a Agco insurance policy that became part of my loan activity. I did my own research and asked the dealer about it and they srnt me paperwork to read. Thats why I mentioned it to ypu when ypu first were making your decision. Its a really good deal because it covers so many things that personal propertu insurance doesn't cover. Cost is based on equipment selection/pricing.

 

[Ooklaa]

Greetings Niko,

I got a Agco insurance policy that became part of my loan activity. I did my own research and asked the dealer about it and they srnt me paperwork to read. Thats why I mentioned it to ypu when ypu first were making your decision. Its a really good deal because it covers so many things that personal propertu insurance doesn't cover. Cost is based on equipment selection/pricing.

Yes I remember you asking me. The dealer quoted me much more tho then what you stated now. But now my home owners insurance is playing games and is wanting to charge me more money for the machine. I ammlooking into different options.

Do you have any links on the internet or is this all dealer related paperwork.

 

[Clipse3GT]

I got the insurance thru agco this month. Came out like $6.50 per month for the term of loan on a GC 1720.

 

[AxleHub]

Yes I remember you asking me. The dealer quoted me much more tho then what you stated now. But now my home owners insurance is playing games and is wanting to charge me more money for the machine. I ammlooking into different options.

Do you have any links on the internet or is this all dealer related paperwork.

My agco insurance was based on the price of my gc1715 for the life of the loan.
Niko, your unit is the gc1720 as I recall . . which is more expensive than mine. And your loan may be longer than mine.

As I mentioned on your other thread as well as this one . . I don't know how conditions (prices) change after you've already got the deal and loan started . . Which is why I mentioned it back then to you.

Also as I'd mentioned in detail on the other thread and this one . . There are two different possible coverages in a homeowner's policy. The first is just to have it under the personal propery side . . Which doesn't change your insurance costs . . But coverages are more limited. The other option is a rider on your policy which is better coverages on damage claims for many things not covered well on normal personal property. A rider is more like the Agco coverage. Each has some advantages and disadvantages . . but at different prices.

Why I had highlighted the Agco policy on Massey products is that in comparison to Kubota's KTAC insurance on Kubota's products the AGCO coverage for my 5 years was about the same cost as 1.25 years of Kubota's KTAC cost.

But Niko, as I'd mentioned to you on the other thread . . you can't get it except thru the dealers. My dealer is big . . yet they had never done an AGCO insurance coverage until I specifically requested it.

You'll need to contact your dealer to see if its still possible for you to even get it . . or at what price. My coverage cost andvyour coverage cost AT THE TIME OF PURCHASE would have maybe been 100 or 150 dollars or so different because different values of equipment. I just don't know how it would change months after purchase . . as for sure it would require an additional filing fee etc..

Also ask for the descriptive info on it so you can study the differences. I know my insurance company was stunned at the price/coverage.

Good luck . . hope this repeat of the past info is a help.

Axlehub

 

[Ooklaa]

Thanks axle my dealer told me i coulg buy the insurance later is i decided too. Also heard back from my insurance agent and This is what he said threw a email.

Your policy without the $135 endorsement covers every conceivable claim except collision or upset (tipping over the tractor)

Without seeing the tractor I really don't know how possible that would be.

If you are comfortable that you will never flip it, you would be fine with us removing the endorsement. You would still be covered for all the biggies...fire, theft falling objects etc.

Give me a call and let me know what you think.

I know you are tied up today. I can also remove the coverage retroactively so you incur no real cost.

I hope this information helps.

 

[AxleHub]

Thanks axle Also heard back from my insurance agent and This is what he said threw a email.

Your policy without the $135 endorsement covers every conceivable claim except collision or upset (tipping over the tractor)

Without seeing the tractor I really don't know how possible that would be.

If you are comfortable that you will never flip it, you would be fine with us removing the endorsement. You would still be covered for all the biggies...fire, theft falling objects etc.

How about flood, wind, hail, tornado etc.. Many policies have hugh deductibles for those items or exclude these from coverage.

Remember . . your home owner's still provides coverage for it as well . . But the agco insurance is a damage insurance . . So it also covers overturn/tip over plus those I listed above

 

[Ooklaa]

I got the insurance thru agco this month. Came out like $6.50 per month for the term of loan on a GC 1720.

full loan or did you put money down, my dealers wanted almost double that a month.

 

[Ooklaa]

How about flood, wind, hail, tornado etc.. Many policies have hugh deductibles for those items or exclude these from coverage.

Remember . . your home owner's still provides coverage for it as well . . But the agco insurance is a damage insurance . . So it also covers overturn/tip over plus those I listed above

gonna wait for him to give me more details on the coverage but he did state overturn and collision for the endorsement. Collision not sure what he means by that, if a vehicle hits it I guess or if I hit a vehicle.. my reg home owners covers me for theft and fire and falling objects which are my biggest concerns. tip over is something I am looking into but want to read more into how it is handled, but not tornado and hail, tractor is in a shed. if a tornado comes ill be worrying a lot more then a tractor.

 

[Clipse3GT]

84 mos. 0% w 10% DP