Insurance - Used Tractor

[JME81]

I bought a used tractor, no financing and is paid off. What should I do about Insurance? It's a LX2610 CAB. [AFFILIATE=1, nofollow=true, newwindow=true, title="Kubota"]Kubota[/AFFILIATE] insurance, home owners? What's your experience?

 

[RjCorazza]

*Kubota insurance is always highly rated, but I thought it was only available in combination with *Kubota financing. Could be wrong.

Anyway, I confirmed coverage through my homeowner's policy, but they don't cover a lot of things like accidental damage, or ANYTHING that occurs off property. It's basically fire, theft, and vandalism.

 

[hube2]

The only reason I have insurance on my tractor is because it was required for the loan and I'm not sure I'm going to keep it insured when the loan is paid off. I had to add it to my homeowner policy and it covers anything that could possibly happen to it including a rollover. I guess I have to decide if I could afford to replace it if something happens, but that decision is a couple of years out yet.

If you're worried about it I would talk to whoever your homeowner policy is through and see what they say.

 

[JethroB]

I bought a used tractor, no financing and is paid off. What should I do about Insurance? It's a LX2610 CAB. Kubota insurance, home owners? What's your experience?

I suggest calling your insurance agent. They should be able to find coverage that is suitable. I priced [AFFILIATE=1, nofollow=true, newwindow=true, title="Kubota"]Kubota[/AFFILIATE] insurance when I bought mine new and while it has extensive coverage it was pricy at $750/yr. I scheduled mine on a farm policy which gives me coverage similar to full coverage on an auto for $200/year. Fire, theft, comprehensive and off premises use & liability. No commercial work allowed.

 

[Jrasband]

I suggest calling your insurance agent. They should be able to find coverage that is suitable. I priced [AFFILIATE='1, nofollow=true, newwindow=true, title="Kubota"']Kubota[/AFFILIATE] insurance when I bought mine new and while it has extensive coverage it was pricy. (3X) I scheduled mine on a farm policy which gives me coverage similar to full coverage on an auto for $200/year. Fire, theft, comprehensive and off premise liability.

what is the deductible?

 

[JethroB]

$1000 deductible. No deductible on glass breakage (cab ) and includes 7 years of replacement coverage. AutoOwners.

 

[Thomas]

We went homeowners...no other may use our [AFFILIATE=1, nofollow=true, newwindow=true, title="Kubota"]Kubota[/AFFILIATE] nor use in business.

 

[Jrasband]

Anyone here used the Farm Bureau? We just checked and it's below $250 a year for a 50k tractor. Seems to have good coverage. The only thing we are not sure about is if they would replace it at purchase value in the first couple of years, or if they would factor in depreciation.

 

[JME81]

KTAC said that it would be $478 a year and would give me the value of the tractor at the time of incident.
My Home Owners left me a VM and I need to call back but they said it would add $100 annually and would be depreciated value or value of tractor at the time of incident.

I may give Farm Bureau a call too.

 

[JethroB]

If I understood KTAC correctly they will give you 100% of original purchase price towards a replacement [AFFILIATE=1, nofollow=true, newwindow=true, title="Kubota"]Kubota[/AFFILIATE] tractor. OR 80% in cash should you not choose to replace it. Someone please correct me if I’m wrong. There are just so many twists to insurance of all types.