Mark Headley
Bronze Member
Hello all...
I am learning about insurance so feel free to lend ideas and input.
It turns out because my new Kioti DK45SE-HST replacement value is over $10K it isn't covered up to the $27ish grand replacement value.
I got a quote from Red Shield out of Oregon, I haven't read all the fine print yet but it's $500 a year premium with a $1000 deductible. It says it's a 'fully earned' premium so I assume the money is all theirs once paid- no refunds. I think they are calling it 'Equipment Catastrophe' coverage.
What would you do? Our local insurance people aren't real savvy with equipment coverage- Our Allstate homeowners doesn't have anything and referred us to this place.
I suppose one option could be to just have the 10K homeowners amount available and self insure for the $17K in the hopefully rare event the tractor is thieved.
Does homeowners cover personal injury and others injured?
We do have an umbrella policy due to owning our own business...not sure if that covers any of this.
ughhhhh...always some new garbage to bone up on and hope you're covered.
I am learning about insurance so feel free to lend ideas and input.
It turns out because my new Kioti DK45SE-HST replacement value is over $10K it isn't covered up to the $27ish grand replacement value.
I got a quote from Red Shield out of Oregon, I haven't read all the fine print yet but it's $500 a year premium with a $1000 deductible. It says it's a 'fully earned' premium so I assume the money is all theirs once paid- no refunds. I think they are calling it 'Equipment Catastrophe' coverage.
What would you do? Our local insurance people aren't real savvy with equipment coverage- Our Allstate homeowners doesn't have anything and referred us to this place.
I suppose one option could be to just have the 10K homeowners amount available and self insure for the $17K in the hopefully rare event the tractor is thieved.
Does homeowners cover personal injury and others injured?
We do have an umbrella policy due to owning our own business...not sure if that covers any of this.
ughhhhh...always some new garbage to bone up on and hope you're covered.