Kubota Insurance Cost

[whirly]

I was told its based off purchased price, not amount financed. So if I added a Curtis Cab and a RFM, that would be factored into Ins cost. It's annoying but I understand it. Other colors make you purchase a loan protection insurance at around $300. You default, the loan is still satisfied.

My gripe with the KTAC is, they specify coverage so that most homeowners wont cover it. I emailed the details to my current homeowners and the response I got was "How deep are your pockets".

The extra $27 a month in my case, pushes the payment above what I want to spend.

1) My home owners will cover the tractor for theft and fire. KTAC covers it for "accidental" damage. i.e. - you roll it they fix it; you put a branch though the radiator they fix it if a tree limb falls on the soft parts (Hood, Fender, Cab) they fix it; you put a hole in the pan and loose all of the oil, smoke the engine ... they fix it. Home owners won't do that. KTAC also covers the tractor in transport - you or your friend hauling it to the dealer or work site.

2) Yes, the premium is on the original purchase amount of everything "Orange". If it has a Kubota Part # it's covered but has to be listed on the declaration page of the policy. To my understanding, if it's an aftermarket cab or FEL it isn't covered.

3) Loan protection insurance is to protect the lender not you. If you default, the insurance company pays the lender and comes after you.

Just my 2 cents

 

[Tractor Seabee]

After paying off my BX I continued the KTAC insurance at $300/yr for the tractor, brush hog and rototiller with a $20K insured value. Last year they paid for $8000 in damage repairs. I could not have afforded that out of pocket. For me it is a bargain I cannot do without. A total casualty like a fire or theft will get me a current model replacement. I determined there was no good reason to insure the attachments that do not have moving parts, break it I can fix it.

Ron