kubota insurance

[murphy1244]

Interesting Post, Thank you.

 

[Depmandog]

been using KTAC since i purchased tractor 6 yrs ago. looks like a good policy & they work w/my dealer, etc. but.......my premium went up 50% this year from $300 to $450!!!!!!!!!!! outrageous. they claim it was across the board. insurance companies are a real racket next to lawyers :thumbdown:

My KTAC went up as well. I called and questioned them. They said they hadn't raised rates in years, and the owners insisted. It was an across the board increase. Mine wasn't 50%, more like 30%...I haven't had any claims. Sucks, but what do you do?

 

[JOHNTHOMAS]

My KTAC went up as well. I called and questioned them. They said they hadn't raised rates in years, and the owners insisted. It was an across the board increase. Mine wasn't 50%, more like 30%...I haven't had any claims. Sucks, but what do you do?

WHAT YOU DO IS COMPARE PRICES BEFORE BUYING JUST LIKE WITH ANY OTHER PURCHASE:thumbsup:

 

[Fallon]

Based on my research (at least when I got the tractor, who knows about any potential bump when I pay it off) bending over & taking it from KTAC was still the cheapest solution. Research & situational awareness is always the answer. :thumbsup:

 

[big bubba]

You said they worked with your dealer which seems to indicate a claim. That might be a contributor to your rate increase.

never filed a claim. dealer will provide trans/work (after deductible) if a claim is filed. this is std. not special or written in the policy..... a 50% annual premium increase is outrageous.

 

[KTAC]

There is some confusion... :confused3: For anyone claiming to have received a 50% annual price increase, that just isn't true. Please take a look at the coverage amount of the policy (value of equipment) to make sure your value didn't actually go up since last year. Based on market values fluctuating, you may have equipment value higher than the previous year and therefore the annual premium may be more. You can lower the policy coverage (value) if you want but make sure you don't reduce it too much. Otherwise, if you file a claim for a total loss, you may have a difficult time finding another Kubota (you will be capped at the coverage amount of the policy). For example, the premium on a $15k value annual policy went from $180 to $234 a year. I understand it may seem like a lot if you put a percentage next to it but the difference is only $4.50 a month or $54 a year.

Quick Story - I am reminded of a performance review I had with an old boss several years ago. He gave me a 20% pay increase which was great and definitely appreciated! I was making $16,500/year so my $3,300 pay raise equaled $127 a paycheck (bi-weekly). During my performance review (and him giving me the pay increase), the conversation turned to him being dissatisfied with his 6% pay increase since I got 20%. We had a great working relationship and he had previously told me he was paid $162k/year. I quickly pointed out that his annual pay increase ($9,720 to be exact) was a lot more than my 20% ($3,300). The point... yes, there was a price increase but please try to keep in mind that we offer GREAT coverage, at a competitive price and backed by Kubota. :thumbsup:

 

[big bubba]

KTAC: thank you for reviewing. i stand corrected, a closer look @ the math, the premium increase is closer to 32% over last year for a '08 M8540HD12 hyd shuttle open station tractor currently w/450 hrs accessed by KTAC @ $28,275...... actually the accessed KTAC value might be low i think given price increases for the model over the recent years.....nonetheless, it's a big increase!!!! i have never filed a claim....having said this, i will continue the KTAC insurance given the alternatives & liability through the years. probably "best" deal around thanks again