Yes. There was a rate increase last year and some of you are noticing it now that your policy is up for renewal. I understand some people look at the percentage increase and have a problem with it. However, the point is not as much to do with the increase (I understand that is easy for me to say) but rather how cheap our insurance was before. My point... a 30% increase for insurance that was priced too low is different than a price increase for insurance that is already priced above our competitors. Insurance through KTAC provides excellent coverage, service by a Kubota owned company, and is still competitively priced for all that is offered.
For those comparing coverage, a homeowner policy is not the same coverage. In addition to lack of off property coverage, during transit, accidental damage (hitting a stump), and limited value coverage (cap on how much $$$ they will actually cover), a typical HO policy has a very high deductible ($500, $1,000, or 1% of the value of your house) compared to $250 with KTAC. If you ever file a claim, the difference in deductible alone (if the damage is covered) is enough to pay for another year or more of insurance through KTAC.
Another way of looking at it... If your income is $30k a year and you get a pay raise of 30%, you will be making $9k more. If your income is $130k a year, that same 30% increase equals a pay increase of $39k. The thing to consider is the actual dollar increase and not the percentage because KTAC was priced very low. The price increase for a $15,000 tractor went from $180/year to $234/year which is $4.50 more per month.
Question... Does an insurance agent through another provider care if you buy another Kubota? Something to consider.:thumbsup:
Brian
