sandyc
Veteran Member
It's not a buyer protection plan. It's a seller protection plan. There are no titles and Kubota does need to file ucc's
Insurance Kubota Buyer Protection Plan
- Thread starter PhysAssist
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PhysAssist
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My Hoe
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Interesting thread.
I have KTAC, and was able to get it on a used machine (2012 B3000). I bought my B3000 from a NON-Kubota dealer, and got KTAC coverage for roughly $400./yr, IIRC, and was very pleased KTAC would cover used/non-dealer machines. I have not had a chance to use the machine much, sadly, but I've not had to file a claim either.
One thing to be clear about (and I say this having been an Insurance Claims Investigator/Adjuster, for heavy liability losses) is that KTAC is "first party coverage" ONLY.
"First Party" means YOUR TRACTOR--only. Roll it--covered. Stolen--covered. Fire--covered, etc....
In the automotive world, your collision, theft, fire, etc... are part of your "first party" coverage, i.e., it covers damage to your CAR--even if it's your fault (provided you have "first party" coverage, that is. In (at least) some states, you can opt just to have liability coverage, which is required by the state you live in. "First Party" coverage is NOT LIABILITY coverage, and does not cover damage to the property or persons of others, i.e., "third parties."
KTAC is "FirstParty" coverage, like the collision, etc..., listed above. However, KTAC is NOT LIABILITY coverage.
This is important because the most money you can lose, if you total your tractor, without KTAC or some other, "first party" coverage (but harm no "third parties," or their property) is...the value of your TRACTOR.
In a LIABILITY case, however, you can be liable for any amount awarded to a plaintiff who might be suing you, for either damage to their property or PERSON--the latter, known as "bodily injury" liability, can, obviously, far exceed the value of your tractor. The sky is the limit, if a plaintiff is (God forbid!) injured badly enough...or worse....
So, roll it (with KTAC) and the TRACTOR is covered. But if you roll it ONTO something or (God forbid!) someONE, KTAC will NOT cover the "third party's" property (or your NON-tractor property, for that matter) nor YOUR BODY or OTHER PEOPLE, because that is "third party" LIABILITY "exposure," and not "first party" PROPERTY "exposure", i.e., your TRACTOR, which IS covered by KTAC.
Because, again, KTAC is NOT LIABILITY (i.e., "third party") coverage.
Meaning, ideally, IMO, one should also have liability coverage (i.e., "third party" coverage) in addition to "tractor coverage," i.e., "first party" coverage, as offered by KTAC. Because, without LIABILITY coverage, you, personally, would be responsible for any civil judgements against you. And a wrongful death case could easily be measured in millions of dollars, which means, if you do not have LIABILITY coverage for the TRACTOR (i.e., like having it added, in a "ryder," to your homeowner's policy), your savings/income and even your HOME could be taken, to satisfy the judgement.
(I don't have liability coverage, yet, and need to take my own advice!
)
I need to try the homeowner's ryder route, as someone suggested, and see if I can find LIABILITY coverage, because right now, I have zero coverage for LIABILITY (i.e., to "third parties," meaning other PEOPLE/PROPERTY)--even though I'm only on our own property.
If I go out in the road/on a neighbor's property, KTAC covers the tractor, for damage to the TRACTOR, ONLY. Again, same thing, if there is a mishap/stupidity/accident on our property--KTAC covers the tractor, for damage to the TRACTOR, ONLY.
Sorry for the repetition (and caps) but I find that many folks who haven't had the benefit of working in the insurance field, going to law school, etc..., do not have a clear understanding of the differences between the various types of coverages.
Another thing to consider is adding an "umbrella policy" to your homeowners policy, to raise it from, for example, $300,000. in LIABILITY coverage, to, say, $2 MILLION (which would cover the tractor, for LIABILITY ONLY, i.e., damage to "third parties", i.e., others, caused BY the TRACTOR, not TO the TRACTOR). IF:
a) you have successfully added LIABILITY coverage for the tractor, to your homeowner's policy, AND
b) your umbrella carrier ALSO agreed to include the tractor.
I can tell you that, in the North East, WITHOUT the tractor on the homeowner's policy, getting an umbrella policy to take your homeowner's coverage from $300,000. to $2 MILLION initially only cost approx. $400. (a year, IIRC), but then went up to like $700-800. (again, I believe per year) because we moved downstate, and added two vehicles. And that still does not (yet) include the tractor, for ANY coverage.
But umbrella coverage is another conversation, probably best had with your agent (or GEICO, which has no agents, but not necessarily the lowest prices, either).
I never heard of KBPP--how does it compare to KTAC, in terms of TRACTOR coverage?
And is KBPP also LIABILITY coverage?
Can KBPP be put on a non-dealer-sold, used machine?
Hope this helps.
My Hoe
I have KTAC, and was able to get it on a used machine (2012 B3000). I bought my B3000 from a NON-Kubota dealer, and got KTAC coverage for roughly $400./yr, IIRC, and was very pleased KTAC would cover used/non-dealer machines. I have not had a chance to use the machine much, sadly, but I've not had to file a claim either.
One thing to be clear about (and I say this having been an Insurance Claims Investigator/Adjuster, for heavy liability losses) is that KTAC is "first party coverage" ONLY.
"First Party" means YOUR TRACTOR--only. Roll it--covered. Stolen--covered. Fire--covered, etc....
In the automotive world, your collision, theft, fire, etc... are part of your "first party" coverage, i.e., it covers damage to your CAR--even if it's your fault (provided you have "first party" coverage, that is. In (at least) some states, you can opt just to have liability coverage, which is required by the state you live in. "First Party" coverage is NOT LIABILITY coverage, and does not cover damage to the property or persons of others, i.e., "third parties."
KTAC is "FirstParty" coverage, like the collision, etc..., listed above. However, KTAC is NOT LIABILITY coverage.
This is important because the most money you can lose, if you total your tractor, without KTAC or some other, "first party" coverage (but harm no "third parties," or their property) is...the value of your TRACTOR.
In a LIABILITY case, however, you can be liable for any amount awarded to a plaintiff who might be suing you, for either damage to their property or PERSON--the latter, known as "bodily injury" liability, can, obviously, far exceed the value of your tractor. The sky is the limit, if a plaintiff is (God forbid!) injured badly enough...or worse....
So, roll it (with KTAC) and the TRACTOR is covered. But if you roll it ONTO something or (God forbid!) someONE, KTAC will NOT cover the "third party's" property (or your NON-tractor property, for that matter) nor YOUR BODY or OTHER PEOPLE, because that is "third party" LIABILITY "exposure," and not "first party" PROPERTY "exposure", i.e., your TRACTOR, which IS covered by KTAC.
Because, again, KTAC is NOT LIABILITY (i.e., "third party") coverage.
Meaning, ideally, IMO, one should also have liability coverage (i.e., "third party" coverage) in addition to "tractor coverage," i.e., "first party" coverage, as offered by KTAC. Because, without LIABILITY coverage, you, personally, would be responsible for any civil judgements against you. And a wrongful death case could easily be measured in millions of dollars, which means, if you do not have LIABILITY coverage for the TRACTOR (i.e., like having it added, in a "ryder," to your homeowner's policy), your savings/income and even your HOME could be taken, to satisfy the judgement.
(I don't have liability coverage, yet, and need to take my own advice!
)I need to try the homeowner's ryder route, as someone suggested, and see if I can find LIABILITY coverage, because right now, I have zero coverage for LIABILITY (i.e., to "third parties," meaning other PEOPLE/PROPERTY)--even though I'm only on our own property.
If I go out in the road/on a neighbor's property, KTAC covers the tractor, for damage to the TRACTOR, ONLY. Again, same thing, if there is a mishap/stupidity/accident on our property--KTAC covers the tractor, for damage to the TRACTOR, ONLY.
Sorry for the repetition (and caps) but I find that many folks who haven't had the benefit of working in the insurance field, going to law school, etc..., do not have a clear understanding of the differences between the various types of coverages.
Another thing to consider is adding an "umbrella policy" to your homeowners policy, to raise it from, for example, $300,000. in LIABILITY coverage, to, say, $2 MILLION (which would cover the tractor, for LIABILITY ONLY, i.e., damage to "third parties", i.e., others, caused BY the TRACTOR, not TO the TRACTOR). IF:
a) you have successfully added LIABILITY coverage for the tractor, to your homeowner's policy, AND
b) your umbrella carrier ALSO agreed to include the tractor.
I can tell you that, in the North East, WITHOUT the tractor on the homeowner's policy, getting an umbrella policy to take your homeowner's coverage from $300,000. to $2 MILLION initially only cost approx. $400. (a year, IIRC), but then went up to like $700-800. (again, I believe per year) because we moved downstate, and added two vehicles. And that still does not (yet) include the tractor, for ANY coverage.
But umbrella coverage is another conversation, probably best had with your agent (or GEICO, which has no agents, but not necessarily the lowest prices, either).
I never heard of KBPP--how does it compare to KTAC, in terms of TRACTOR coverage?
And is KBPP also LIABILITY coverage?
Can KBPP be put on a non-dealer-sold, used machine?
Hope this helps.
My Hoe
Last edited:
KTAC
Advertiser
- Joined
- Dec 21, 2009
- Messages
- 170
My Hoe, nice job explaining this.
KTAC (which I represent) should be the choice for property damage insurance for Kubotas and adding/increasing an umbrella policy is recommended to protect yourself. Keeping property damage insurance separate eliminates the risk of your homeowner policy rate increasing in the event of a claim. Sure, KTAC may increase rate depending on losses but you have a choice to buy it. Regardless of your homeowner rate, you will always want to insure the roof over your head.
To be clear, KBPP is not property damage insurance (which is offered through KTAC - Kubota Tractor Acceptance Corporation). This posts may be referencing the extended warranty. If so, the extended warranty is something completely different.
Have a great day everyone!
Brian Carter
Director, KTAC/KCC
KTAC (which I represent) should be the choice for property damage insurance for Kubotas and adding/increasing an umbrella policy is recommended to protect yourself. Keeping property damage insurance separate eliminates the risk of your homeowner policy rate increasing in the event of a claim. Sure, KTAC may increase rate depending on losses but you have a choice to buy it. Regardless of your homeowner rate, you will always want to insure the roof over your head.
To be clear, KBPP is not property damage insurance (which is offered through KTAC - Kubota Tractor Acceptance Corporation). This posts may be referencing the extended warranty. If so, the extended warranty is something completely different.
Have a great day everyone!
Brian Carter
Director, KTAC/KCC
