Insurance Increase in Kubota insurance premium

[JOHNTHOMAS]

I'm a shop around kind of guy and also fair at comparing apples to apples and oranges to oranges.
I have a Kubota that I originally bought in 2008 and it resides in my locked storage building located at my rental property. I need some insurance just in case some low life were to be able to get access to it and steal it or it caught on fire and burned up. Anyway, I shopped for same dollar coverage with KTAC and adding it to my commercial Farm Bureau policy as a Marine add on. KTAC was a few dollars cheaper for the same dollar coverage but KTAC should provide a bit better coverage so will be calling KTAC 800 number with my serial number and credit card and obtaining another KTAC policy.
I have KTAC for my tractor that I move off of my home property and my RTV that goes off of my home property but my F3080 that I use just on my home property is covered under my homeowners Farm Bureau policy for no additional cost but no, not same coverage as KTAC.

 

[NativeSon]

I am going to shop this around next week. I also may lower the value or the deduction, but a 35% increase is pretty stout.

My middle class and fairly comfortable lifestyle is taking a real beating here lately. With price increases(^) in a lot of areas: Grocery(15-18%^), Gasoline (+$3.50/gal and no sign of dropping), Doctor office visits(100%^ and I've got good ins.), utilities("expect large increases"- said the President), and then throw in the price of Ammo.........if you can find it, and it's starting to get a little unbearable out here in "fly-over country".

Charlie

 

[Gator6x4]

For what it worth, my insurance man apologized to me over my insurance bill and it wasn't from Kubota. He advised claims are going through the ceiling because people are finding creative ways to get someone else to pay. He advised if the insurance industry could not get things under control, look for annual increases to become very common.

 

[Ken45101]

I have found cheaper insurance than KTAC but it is not that much cheaper and they only covers my equipment on my property. Since I do some charity work for a veteran and church plus the occasional trip to my dad's place I need road and off property coverage. KTAC is the only one that I know who does that for the price.

FWIW my farm policy does include off premisis volunteer work, I take my equipment to state land to do bridal trail maintenance.

Yes insurance sure is getting expensive. Our agent saved us some by not listing individual equipment but rather insuring an aggregate total. If we lost everything we probably would be underinsured but since its stored in different barns, that scenario is unlikely.

BTW, we changed insurance last year. We had a bad motorcycle wreck where the other person was at fault. They had yhe same insurance as we did on our farm policy and we found out how dishonest and lying their people were. Very disgusting. I complained to our agent and received zero response.

 

[ritschner]

Tractors are covered on my homeowners at no additional charge, but only up to $10,000 with a $1,000 deductible and only on premise. It works out OK if it is a glorified lawn mower. To get the coverage I need through homeowners I have to take out a commercial policy.

 

[BeezFun]

When I read some of the stories about what KTAC pays for, I'm amazed they're still in business. My experience collecting on an insurance policy has ranged from disappointing to maddening. I had an elderly lady lose consciousness while driving past our house, the car went off the road and knocked down most of our fence as well as the telephone pole. Her insurance claimed they didn't have to pay because she had no history of health issues so this was unforeseeable, therefore they didn't have to pay. They cited some court case where a guy had a heart attack while driving, and the courts ruled the insurance wasn't liable because it was unforeseeable. I argued that the whole reason I buy insurance is for unforeseeable events. I don't need any coverage for things I know are going to happen, I just avoid them.

 

[ultrarunner]

Very true...

My understanding is Kubota Insurance is very broad and offers the highest level of protection which might really make sense when buying on time.

The farm bureau has very good coverage too... just not as comprehensive.

 

[Jeff F.]

I had a similar accident happen. An elderly lady had a stroke, crossed the centerline and hit me head on. My vehicle was totaled and I had 2 surgeries with a week long hospital stay. My girlfriend at the time had a month in the hospital and 20+ surgeries. Her insurance company didn't pay us a dime

 

[ultrarunner]

My sister in law was t-boned when she was 6 months pregnant.

The drivers company denied the claim and lawyers wanted 40%.

My brother is a smart guy and he filed a lawsuit in superior court... all of a sudden the insurance company wanted to talk to him...

The day of the trail, he settled outside the court room.

Standard operating practice seems to be deny and delay...

Brother had all his ducks in a row and spent a lot of time on it... sister in law was bed-rest the last three months...