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  1. #1
    Member Tractor2011's Avatar
    Join Date
    Oct 2010
    Posts
    27
    Location
    Eastern NC
    Tractor
    L3940/HSTC

    Default KTAC Insurance Rate Increase

    I've had kubota insurance (KTAC Insurance) on my L3940 for the last few years. I've never submitted a claim but this year my rate jumped up approximately 30% for no particular reason. When I inquired about the rate increase I was told everyone's rates were increased. KTAC is now charging me almost as much as I pay for my Corvette, so I'm in the process of looking around for an insurance company that can cover my tractor at a reasonable rate. Any suggestions?
    2011 L3940/HSTC, LA724, 4-in-1 bucket, Bradco pallet forks, Speeco 3-Pt Quick Connect, Phoenix 66" geared tiller, Phoenix M-72S finish mower.

  2. #2
    Super Member blueriver's Avatar
    Join Date
    Oct 2007
    Posts
    5,017
    Location
    S.E.Oklahoma
    Tractor
    JD 5520 Montana 4340 Farmall Super A Montana 5720C

    Default

    Try CNH
    "Throwing a rock at every rabbit that jumps"

    sales@caneyagequipment.com

  3. #3
    Platinum Member Rocky Hoffler's Avatar
    Join Date
    Jul 2010
    Posts
    623
    Location
    N. Central Fl.
    Tractor
    Kubota L4600

    Default Re: KTAC Insurance Rate Increase

    Quote Originally Posted by Tractor2011 View Post
    I've had kubota insurance (KTAC Insurance) on my L3940 for the last few years. I've never submitted a claim but this year my rate jumped up approximately 30% for no particular reason. When I inquired about the rate increase I was told everyone's rates were increased. KTAC is now charging me almost as much as I pay for my Corvette, so I'm in the process of looking around for an insurance company that can cover my tractor at a reasonable rate. Any suggestions?
    Does this cover tractor for loss or is liability included also
    What good is it for someone to gain the whole world, yet lose their soul. Mark 8:36

  4. #4
    Member
    Join Date
    Jun 2014
    Posts
    42
    Location
    Buckley, MI
    Tractor
    Mahindra 5010 Gear Cab

    Default Re: KTAC Insurance Rate Increase

    I insure my tractor for peanuts with my homeowners.

  5. #5
    Platinum Member Monster5601's Avatar
    Join Date
    May 2010
    Posts
    604
    Location
    Oakland, MI
    Tractor
    Kubota B3030 R4 Tires

    Default Re: KTAC Insurance Rate Increase

    Quote Originally Posted by MarentetteService View Post
    I insure my tractor for peanuts with my homeowners.
    Please, tell me how you did it. I've had several insurance providers tell me they can't insure my tractor since it has a value greater than 15K, that is as high as Michigan allows or requires. Somehow the state is involved in this.
    Bob, n8zcc

    Kubota B3030 with R4s
    LA403, 60" bucket with hooks, bolt-on tooth bar, ratchet rake
    BH76 with 16" bucket and thumb
    Kubota Pallet Folks
    Bush Hog 35-06 72" Rear Blade
    Bush Hog SBX60 Box Blade
    Bush Hog Razorback RZ160
    Kubota ZD323-60
    Kubota RTV900 with Curtis hydraulic angle plow

  6. #6
    Member
    Join Date
    Jun 2014
    Posts
    42
    Location
    Buckley, MI
    Tractor
    Mahindra 5010 Gear Cab

    Default Re: KTAC Insurance Rate Increase

    I called Grady at bay view insurance,(231) 941-2244, gave hime the vin number, and he added it. I also had to give him a value and model name. Call him lol.

  7. #7
    Platinum Member Gem99ultra's Avatar
    Join Date
    May 2009
    Posts
    895
    Location
    Warm Springs, GA
    Tractor
    Kubota L3400HST

    Default Re: KTAC Insurance Rate Increase

    I went through the same thing with them last year... They're deaf to reasoning that a 30% increase in one year is "reasonable". I discussed my tractor coverage with my homeowner insurance company - and Yes, it's totally covered while on my property. No extra charge.

    That does not cover it on public roads, but that's an extremely rarely a situation for me.

  8. #8
    Advertiser KTAC's Avatar
    Join Date
    Dec 2009
    Posts
    119

    Default Re: KTAC Insurance Rate Increase

    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.

    Brian

  9. #9
    Platinum Member The Fred's Avatar
    Join Date
    Jun 2013
    Posts
    921
    Location
    hOOterville
    Tractor
    Couple of Orange Clunkers

    Default Re: KTAC Insurance Rate Increase

    30% increase is highway robbery.

    Shop around guys, even healthcare does not see increases of more than 20%.

    Regards, Fred
    If you can't fixit trade it....

  10. #10
    Epic Contributor k0ua's Avatar
    Join Date
    Jun 2009
    Posts
    24,341
    Location
    Branson, Mo.
    Tractor
    Kioti DK35se Hydrostat

    Default Re: KTAC Insurance Rate Increase

    I paid the increase and went on. It is darn good insurance guys. It covers a lot.
    James K0UA

    Kioti DK35se hydrostat with 2 QA buckets, 48 inch. King Kutter Rotary Cutter. 750 lbs ballast box. Loaded tires, Construction Attachments SSQA Lightweight Pallet forks. EA 50 inch single lid "wicked" Grapple. Satisfied Everlast PA160 welder owner NRA Life Member How to add a link to a post . Best way to search TBN .


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