Insurance Cost of kubota insurance on L3560

[USCG1]

Just picked up my new L3560 and took advantage of the 0% financing but there insurance they have you take out went from $1278.00 to $1688.00 when all said and done. Does anyone know is that sound right? When I bought my L3200 3 years ago it was $975 for the 5 years.

 

[Howling]

THe Kubota insurance for BX2370 was $975 for 5 years in Feb this year.

 

[Zerk]

In my state, as long as it stays on my property it is covered by homeowners insurance.

 

[Turbys_1700]

I just went through the same thing with New Holland finance. They were going to charge $1300 for 5 years insurance on a Workmaster 50. I was able to get the tractor covered for $750 through Farm Bureau. My homeowner's would cover it if it was stored at the house but my unit is stored in a workshop on site but unattached to my home. My dealer financed with another institution that did not require insurance. I am going to cover it anyway so no big deal.

 

[MarkinMass]

I just swung by Ahearn Equipment in Spencer, MA last Saturday. The salesperson stated that if you wanted the 0% financing you would either have to go through Kubota insurance or get your own. If you get your own insurance you need:
1. On & off property
2. Accidental damage
3. Collision
4. Theft
5. Vandalism
6. Wind
7. Roll Over
8. Fire
9. In-Transit
10. Flood

I can't understand why a homeowner would need off property or collision. The tractor will never leave my property, unless the dealership picks it up for repair. I guess that is the issue if you go with the Kubota financing. The cost quoted me for the Kubota insurance was .001% of the purchase price (monthly fee) plus a $50 policy fee. I haven't checked with my insurance company, but I hope they could beat the Kubota pricing. You need to keep the insurance until you pay it off, so 60 months for me. Kubota insurance will be about $1,388 in total based on the purchase price of my 3301.

I had purchased a used Bobcat 863 skidsteer a few years back and only needed to add it to my homeowners policy. They asked if it would ever go off my property and I said nope. I had financed that purchase as well. So it must be a Kubota thing.

 

[Luke'sScreenName]

Last winter my dealer had a customer drive his brand new, personal use, KX excavator onto his iced over pond. It broke through, he survived. It could not be recovered till the spring.

Kubota replaced the entire electrical system and repacked all the cylinders, service the engine and drive for NOTHING but the $200 deductible!

I have no complaints on the cost with that kind of security.

 

[USCG1]

Thanks guys, don't have a problem with it, just don't under stand the difference in price from day to day. Priced tractor Wednesday and buy it next day.

 

[Luke'sScreenName]

Mine was the $0.01 +50 number too.

 

[MarkinMass]

He stated it was standard Kubota insurance pricing and they had no control over it. If your own insurance company can do better on pricing then that may be the way to go. It just needs to meet Kubota's requirements listed above.

 

[jeff9366]

I have an L3560 too, which I have owned two years. The Kubota KTAC insurance on the L3560 is right at $400/per year. I recently paid $250 deductible on a $1,250 claim for bent FEL parts.

I have owned two new Kubotas, both financed through Kubota and with KTAC insurance. After one claim on the old tractor and one claim on my L3560, I figure the net cost of both KTAC policies was '0'.