Is KTAC Kubota Insurance?

[CHDinCT]

Since you included KTAC in your KCC contract, you have the choice of either replacement cost (what you paid for the equipment) or a depreciated value. Look under the "Limit of Liability - Settlement Options" and you will see you can choose whichever you would like. Basically, buy another tractor and you will get what you paid for your old one minus the $250 deductible. Some restrictions apply so take a look at your policy... You don't need to worry about the $200,000 maximum (it's an insurance thing) since Kubota doesn't sell equipment over $200,000.

Hmm, salesman never mentioned an option and I sure would prefer replacement cost if the price isn't too much more. Anyway, it says the settlement liability is the lesser of:

- cost to repair or replace the collateral with like kind and quality
- actual cash value, less salvage (I think this is depreciated cost)
- Maximum limit of collateral item (I think this is the sales price)

So which policy is this? Sounds like I don't have replacement cost, correct?

Thanks

 

[wvpolekat]

I e-mailed them the other day and asked if they'd insure my long paid off BX23...They wiill..Full coverage on or off the property for $145 per year...Covers a little over 12K in loss..More than fair I think.

Answered my question. I will be calling too for my paid off B7500.

 

[KTAC]

Hmm, salesman never mentioned an option and I sure would prefer replacement cost if the price isn't too much more. Anyway, it says the settlement liability is the lesser of:

- cost to repair or replace the collateral with like kind and quality
- actual cash value, less salvage (I think this is depreciated cost)
- Maximum limit of collateral item (I think this is the sales price)

So which policy is this? Sounds like I don't have replacement cost, correct?

Thanks

As long as you purchased the equipment and policy after Sept. '09, which is when we added the replacement policy, the policy included in KCC's financing has the replacement option. In the event of a total loss, including theft, you can replace your equipment and get the original sales price (minus deductible) or you can elect to take the depreciated value and not replace the equipment. Be happy... you probably already have it and it doesn't cost you anything. If you want, fax me a copy and I can look at it for you... 866-519-8016 attn: Brian.

 

[crazyal]

I'd double check that if I were you...In my case it isn't what I thought it was..I was more or less uninsured.

If you bought a inland marine policy, the issue is moot...This is an option with my insurer too...Just double the cost.

It's $125 a year for $25k worth of coverage with the marine policy so I really didn't look into exactly what the homeowners covered. My agent said "as long as I was using the tractor for home use" my homeowners policy would cover it. I had a marine policy on my BH but since it never leaves my land and only gets occasional use I only have my homeowners covering it now.

I think KTAC might be easier to deal with since (I'm guessing) both they and the dealers are connected to Kubota but I've never filed a claim when I had my BH insured so I have no idea how easy or hard it would be.