Care to elaborate on how its substantially different?
Besides the obvious, the price... seems KTAC is about $1600 for 5 years versus the $231 for the Deere insurance. I'm not saying it isn't, I just don't know enough between the two to make a claim whereas obviously you do. Sell us on KTAC!
I do know KTAC is available even if you don't finance, whereas UltraGuard is only when financed through Deere. Sentry does offer a version of it without Deere but I'm not sure if the pricing is close to the same... I'm guessing its much higher.
Inland marine is not a company but a type of policy which basically is insurance for anything you can move to different locations. Most if not all providers of homeowners insurance will write an inland marine policy to cover your tractor/tools/etc. Both KTAC and UltraGuard are probably just customized inland marine policies supplied by regular insurance companies, KTAC is Ohio Indemnity and UltraGuard is Sentry Insurance.
That is a craptastic statement, and I will provide a supporting argument for me saying that. I'm guessing that you have not yet dealt with KTAC, I have on 2 Kubota purchases in the last 8 months or so, so I am freshly familiar with how it works. For the sake of helping others easily understand the actual facts about how KTAC is charged out, I offer the following:
KTAC is based purely on a cost ($16.70) per thousand dollars covered multiplied by years financed or if not financed...you pay per year up front. So you can not apply any arbitrary numbers to the policy. It is what it is and is different for each "deal" based on the value of the insured package or based on the value of the used equipment. For used equipment, you call KTAC and provide serial numbers and a stated value and the insurance is quoted based on that stated value. There is some wriggle room here, but you can not ask for say... $25,000 coverage on your used BX. They will allow reasonable value ranges. I never challenged them to provide clarification as to what the limits or extents of used equipment values are. In my case I had a used 2013
BX25D TLB that I paid $14,000 for. They covered that $14,000 on request with no hesitation.
If you buy that BX/Mower for $10,000 it's around $167 per year times years financed (4 years? 6 years? 7 years?) and this is front loaded into your financing. If you buy cash and choose to add KTAC, you just pay that $167 and next year you pay again. Let us assume you do the full 84 month, 7 years... $1169 for the 7 years.
If you buy a
B2650 TLB like I did at $28,000 (ish), it is 28 x $16.70 = $467 (per year) X 7 years = $3273 loaded into the financing.
Go buy a Grand L turbo big boy with TLB, add a few attachments and get up around $50,000. 50 x $16.70 = $835 per year, and do the 84 months (7 years) to be $5845 for the duration of financing.
You specifically said 5 years, so lets see where the 5 year numbers are compared to your suggested $1,600.
BX $10,000-ish package $835 to cover 5 years.
B2650 loaded like mine $2,335 to cover 5 years.
Grand L big boy mentioned above, $4,175 to cover 5 years.
There is no "about" number. They tell you flat out what the cost per $1,000 covered is, what you order/spend on the machine sets the annual rate and what your financing term is sets the annual multiplier.
