Insurance question

[David_Kb7uns]

Not all homeowners policies will meet the coverage requirements that is needed. When buying the Grand L they wanted coverage for upset and the only way to get that through the home insurer was a separate rider and it was costing close to the price of a street vehicle and that is when we went to the AG insurer. I am sure other states and other insurers will vary.

David

 

[timswi]

In my case, KTAC is much cheaper than what my home owners company wanted for a policy on any of my Kubotas. My dealer told me that many home owner policies don't cover the loan security requirement.

 

[BubbaJr]

Probably. However, check your homeowner policy, it may cover non-registered vehicles and that may satisfy Kubota financing requirements. But your homeowners won't cover tractor if you plan to take it off your property.

That's not the case with State Farm Insurance. They will cover the tractor to and from the dealer, and also to and from another of your properties and also while on that property.

Several years ago I needed to clear about a foot and a half of snow from a rental property that we owned. I called my agent to see if we were covered and they told me yes as long as we followed the above rules.

Joe

 

[flingwing1969]

When I bought mine they tried force the ktac on me. I said no, so they made me provide proof it was covered under my home owners. That was not a problem, called usaa and they emailed it to me in 5 minutes.

I think the ktac is good based on hearsay, but so far I'm glad I didn't buy it. Haven't needed it and tractor was paid off in 20 or so months.

Hmm, that's interesting. When I bought my tractor, USAA told me that the tractor was only covered to $1000. I'll have to call them again.

 

[UpstateSC_Papi]

Hmm, that's interesting. When I bought my tractor, USAA told me that the tractor was only covered to $1000. I'll have to call them again.

USAA told me mine wasn't covered either (maybe up to $1000, but I'm thinking not a all).

 

[George2615]

I have mine insured through CNH. Physical Damage Insurance. Basically they sub it out to Inland Marine and it cover me on and off property, glass coverage, even tire damage.
PHYSICAL DAMAGE INSURANCE* | CNH Industrial Capital
Very reasonable price.

Here's another thread on ins.
http://www.tractorbynet.com/forums/buying-pricing-comparisons/360544-tractor-insurance.html

 

[flingwing1969]

Just got a quote from CNH, actually underwritten by Wesco Insurance Company. They value my tractor at $14,000 and all attachments at $6000 with $500 deductible. Premium, $213 per year. I forgot to add my backhoe and snow blower so it will go up from there. They ask the value of the tractor and all attachments, combined. They valued my 4n1, rear blade, TPH chipper, and forks.

 

[Tractor Seabee]

I think if you read the fine print of all the options you consider you will find KTAC covers just about any causality a tractor can have during using it as intended. HO insurance falls short on that score. KATAC is a no haggle operation, sweet and swift. Take it to the dealer shop and bring it back. My auto insurance covers mine when it is on a trailer and tower insured by them. Naturally on double insurance like that they will divvy up the pot. BX is paid off and I am staying/KTAC. It's transferable to new owner upon sale. KTAC paid off on a casualty on my BX to the tune of $8K+.

Ron

 

[PILOON]

Face it, what they are insuring is a guarantee that you will pay off the loan.
If you default they can repossess but if stolen or a write off there is nothing to repossess hence insurance and few folks enjoy paying for something they no longer have.

You will note that insurance is always a requirement on mortgages as well, but with a mortgage the cheapest route is a simple term policy with the mortgage holder named on the policy.

 

[KTAC]

I have mine insured through CNH. Physical Damage Insurance. Basically they sub it out to Inland Marine and it cover me on and off property, glass coverage, even tire damage.
PHYSICAL DAMAGE INSURANCE* | CNH Industrial Capital
Very reasonable price.

Here's another thread on ins.
http://www.tractorbynet.com/forums/buying-pricing-comparisons/360544-tractor-insurance.html

The biggest advantage of KTAC is locking in the rate for the full term of your loan. You can't include CNH insurance in your loan so you run the risk of your insurance rate going up each time you file a claim. With KTAC, your insurance rate is locked in regardless of how many claims you file during that term or until you pay it off.

Regardless if you purchase KTAC insurance in your loan or you elect to buy an annual policy (for equipment you own outright), KTAC's goal is to keep a Kubota customer buying Kubota so we try our best to make a bad situation (filing a claim) as painless as possible. Besides, I don't think CNH wants you buy another Kubota so we have more of a vested interest...