Insurance Kubota Insurance Credit

[rosey]

Hey Guys....Just wanted to get your opinion on this........When I purchased my BX in Oct. of 2002 I financed it thru KUBOTA CREDIT for 48 months. As many of you know Kubota Credit requires the borrower to have insurance which I purchased thru them and tacked it into the financed package (BIG MISTAKE) NOW I am paying off the loan early and am going to contact them to see if I can get a credit (insurance was for the life of the loan)....what do ya think????

 

[BillyP]

I don't know about Kubota insurance but with John Deere, they take the cost of unused insurance off of the payoff. I'm sure Kubota works the same way.

 

[Bird]

Mike, give it a try and let us know. I did not get a credit for it when I paid both of mine off early. But since I was also selling them at the time, I let it go and didn't even try to get a credit (like I should have done).

 

[BIGUN]

For those who have homeowners insurance. I added a rider onto my policy, to cover my tractor, at no additional cost. This was perfectly acceptable to Kubota Credit. Saves money and eliminates this problem.

 

[DaGoatMan]

Same hear. I did a 36 month finance and my dealer told me to contact my home owners insurance carrier. I did and they said that my tractor is covered under my home owners policy.

DaGoatMan

 

[frank_f15]

i only had fianancing on my tractor for 2 months before i paid it off , all KUBOTA required was that i had insurance, just showed them my homeowners policy and all set. would imagine u should get credit for the unused insurance time. but what do i know /forums/images/graemlins/confused.gif

 

[dmftoy1]

I don't know who you carry for homeowners, but I did a little research on mine, and the tractor was covered under the homeowners for theft and for fire damage if it was parked in the garage. Any other damage due to my own stupidity (which is what I was afraid of initially /forums/images/graemlins/smile.gif /forums/images/graemlins/smile.gif /forums/images/graemlins/smile.gif ) was not covered by the homeowners policy. (State Farm).

Just thought I'd throw my .02 in. I bought what they call an "Inland Marine" policy to cover the tractor for my stupidity and I'll probably drop it when I pay off the loan.

Regards,
Dave

 

[txdon]

When you pay off your Kubota tractor you only pay for the insurance you used. You will receive credit as reflected in the final payoff amount which you can see on line here . /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif

 

[Henro]

<font color="blue"> I bought what they call an "Inland Marine" policy to cover the tractor for my stupidity and I'll probably drop it when I pay off the loan.
</font>

Myself, all I was concerned about was avoiding the cost of the Kubota insurance.

I figured I would take responsibility for whatever I did to my tractor, but did want coverage for fire, theft and vandalism type things, which I believe my homeowners insurance covers (State Farm). I did talk to my agent about that...

When Kubota Credit accepted my home owners insurance that was fine with me...No extra cost. I won't be paying it off early as the loan was zero interest, so not having to buy addtional insurance meant something to my pocketbook.

 

[8561]

It seems like every time one of these insurance threads comes up, everyone puts their focus on possible damage to their tractor. In reality, even if you do something really stupid, are you going to total the tractor or do major damage? Probably not. Even if you do, in the long run, so what. Have you considered the possibilty of injuring someone else? Or damaging someone else's property? What if your bushhog/snowblower/finish mower/chipper picks up a rock and hits an innocent passer-by or the UPS man, or anyone else you weren't expecting to be there in the head (or eye) and injures them seriously. What if you hit a buried utility you had no idea was there? Liability insurance is what you need to be worried about, not losing a few thousand bucks because you did something to damage your own tractor.