Tomorrow may be a big day for me /forums/images/graemlins/laugh.gif.The paper work is going to be submitted to Agricredit for my CK20!My dealer says that insurance is needed and that it can be incorporated into the loan.Is Agricredit insurance cost reasonable?Would I be better off looking elsewhere? /forums/images/graemlins/confused.gif
?Insurance?
- Thread starter GerardC
- Start date
TomK
Bronze Member
My dealer told me he didn't think I needed to get the insurance if the tractor was covered on my homeowners policy for theft and vandalism. Otherwise it was $4 or 5 a month.
Mathey, what all were you insuring? Just the tractor? I had to pay over $400 for the three years for CK20HST, FEL, BH, and boxblade. This also covers the tractor off my property. I hope the price you paid was only for the tractor or I got taken! Thanks, John
Tx_Kioti_Dealer
New member
Another factor could be that one of you paid AG insurance and the other Commercial insurance, there is a big difference there almost twice as much for commercial insurance. But in my opinion Agricredits insurance is fairly priced, 99% of the time cheaper for my customers. Also every piece of equipment financed through agricredit is required to have insurance.
I think I agree with Mathey, it's the backhoe and boxblade in addition to the FEL that costs more. I'm not sure if it's a percentage of the total or not, but the backhoe really raised the bar. I'm fairly sure mine was AG insurance also as I am not in the business. Anyway, I'm not complaining, it's a lot cheaper than my car or motorhome insurance. John
The insurance through Agricredit is based on the total dollar amount of the equipment, and is almost always less than adding a rider to a homeowner policy. Most homeowner policies cover lawn and garden eqpmnt, but not a tractor...so a wise person will look into this AFTER the loan is paid off. Otherwise if Mr. Sneaky does his 2AM shopping at your place and makes of with your tractor, you will probably be out of pocket on the loss.