Assume your residential 'Bota is insured?

[copperhead1967]

I also had to provide proof of insurance to Kubota when I purchased my Bx. I had a hard time convincing Travelers Ins. that I needed a "Backhoe" of all crazy things. I gave them a copy of the Kubota sales brochure that says "Residental use" in about six different spots. After they decided that 9 acres may justify such a machine they then had to decide how to cover it. There was some talk about a Inland Marine policy but there was some problem with that also. After some discussion they decided that I was covered as long as it was on my property against the usual perils with exception of damage in use ( rollover). They did have to raise the limits on my outside structures to cover the value of the BX. In the end it cost me $4.00 per year more for the higher limit. That probably just about covers the Rolaids my agent went thru.

 

[Ob1kubota]

I have used State Farm for over 30 years and finance every tractor I own through Kubota. They make it a point to determine if their interest in a financed tractor is covered for catastrophic loss. Their new third party insurer is not a requirment for a loan but their Financial Officers look favorably on the intent of a customer to purchase this extra coverage simply because it is less of a risk to their investment in you.

 

[crd]

Add Vermont Mutual to the list of tractor-unfriendly companies.

They would not cover my new BX as scheduled property and would not write an Inland Marine policy. According to them "There would be limited coverage under the personal property as long as the tractor was being used for personal use on the insured's property. The second that the tractor is taken off the property, even if it is in the road to turn around, there is no coverage."

They recommended Kubota's property damage coverage -- for the record, Kubota can be reached at 800-348-5802. I think that's where I'm going.

 

[jcollins]

The other thing we have run into in dealing with people that need to collect on thier policies is that dealing with an adjuster who has never delt with tractors before and someone who whole purpose is tractors and equipment is night and day in being easier to deal with. We resale about three tractors a year do the original tractor being stolen and when we are dealing with a Kubota's or New Holland's insurance it is tremendously easier for both the customer and the dealer. Just thought I would add that tidbit.

 

[Stargazer]

When I financed my bx-23 thru Kub last fall they required "rollover" prot which my standard house policy didnot cover. Extra policy from State Farm was a little over $200/yr

 

[lawn_king]

Full coverage on our new B3030 HSDC is $690. per year. (inland marine)

 

[MadReferee]

Full coverage on our new B3030 HSDC is $690. per year. (inland marine)

How much is that per thousand of declared value? My Inland Marine policy thru Peerless is only $15 per thousand. Based on what I am paying, I could get $46,000 worth of coverage with your premium.

These inland marine policies are pretty much boiler plate from company to company. Shop around, you might be able to do a lot better.

 

[Hootie]

I have been an independent insurance agent since 1984, do mostly commercial but the office does lots of personal lines ins.

Alot of this depends on where you have your insurance. I say this because the direct writers (farm bureau, state farm, shelter, nationwide, farmers etc) are not ISO form companies (do not use ISO forms for the most part), instead some have their own verbage and limitations. For instance a man came to me and said he had a $7500 JD mower that burned and only found out after the fact that his policy had a limitation of $2500. This is all based on what he said, I have not seen their form.

With my companies, equipment used in the upkeep and maintenance of your house being insured and surrounding yard/property is covered as personal property. Surrounding propery is not to be confused with pasture land. We are talking about your yard and property not being used for farming.

I own a BX2200 with all sorts of attachments. They are covered by my homeowners policy until I take them off premises. However, if I have a problem of some sort while trailering it to the dealer that would be covered.

My L5030 is on an IM (inland marine) policy because it is used on the farm.

Whatever you are told that deviates from this needs to be in writing.

 

[phffft]

Full coverage on our new B3030 HSDC is $690. per year. (inland marine)

Wow! That's a whole lot more than mine.
I have a Kubota Grand L 3010 Hydro. I pay $46 dollars a year. This covers any kind of loss. Do you do commercial work with yours?

 

[DaveVales]

When I was looking into insurance while financing my Kubota purchase I spoke to my homeowner's policy agent with Farmers and they said that they could cover it but then the word "collision" came up and that word prevented them from being able to cover the equipment. I'd only be using the equipment on my property, but that did not matter. My dealer said that they have many clients who have Farmers and that they are covered under their homeowners policy, but the dealer also said that it may be an agent interpretation whether the homeowner's policy will cover it or not.

The Kubota form "Agreement to Provide Physical Damage insurance" states "...against all risks including fire, theft, collision, upset, ..." and I wanted to be sure that in signing the agreement I was in fact covered for those things.

I went the easy route and took Kubota's insurance. The insurance rate for 36 mo financing was .0027 of the pre-tax sales price.

Anybody else stumble over the collision provison?