bialecki said:
Anytime you finance property that is also pledged as collateral (lien) you will have to insure it through some channel and name the lienholder as payee. Kubota's insurance is actually cheaper than most homeowner's companies if the equipment is covered on the basic policy. In my experience 3/4 of my customers are not covered under their homeowners on a tractor. Mowers are usually covered.
When I bought my New Holland TC21D they had a 1 year 0% program going. I qualified for the full amount but they wanted some money down. I gave them a grand. Before the loan came due I traded in for my TC29D. They traded, did not ask for any money but gave me another year. So it was 2 years before I ended up paying anything other than the down payment. And they did not ask for any insurance or anything like that.
murph
