Can anyone tell me if I have to get Kubota insurance when I purchase my tractor???? One dealer insist I have to have upset/collision coverage.....My homeowners insurance does not cover that. Other dealers say homeowners is all I need??? /forums/images/graemlins/confused.gif
Insurance Kubota Insurance???
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NY_Yankees_Fan
Veteran Member
- Joined
- Mar 4, 2002
- Messages
- 2,206
- Tractor
- Kubota BX 2200
My dealer accepted my homeowners insurance policy. No problem, gave him a copy and that is all he needed.
Hope this helps/
Hope this helps/
JDgreen227
Super Member
Check your homeowners policy, I am with triple A and my coverage clearly states that AAA covers "motorized land conveyances not registered for road use that are used to service the insured's premises." That term covers my ATV's, my garden tractor, and my JD 4210. JD Credit happily accepted my coverage. Even if you only mow your property one time a year with your CUT, or push an inch of snow with your ATV, that is all that's required with AAA for coverage.
art
Super Member
You don't have to as we never have required it nor have I been told that we needed to sell it for that reason.
GregW
Bronze Member
Hi,
It's my understanding that a homeowners policy will cover a tractor,provided it's being kept and used on the property that the homeowners policy insures.
Where the problem with the homeowners policy would be is if you took your tractor to another location(that is not associated with your homeowners policy) such as a freinds home or a Little League practice field to do someone a favor and the tractor was stolen or anything else happened to it your homeowners policy WOULD NOT COVER THE LOSS.
It Is further my understanding that homeowners coverage doesn't cover a tractor in transit, such as being transported by trailer......a loss on the road would have to be covered by your Automotive policy.
Therfore if you have any plans on using you tractor anywhere besides the area covered by your homeowners policy I would recommend getting a suplemental policy for the tractor for peace of mind.....I elected to accept the coverage that Kubota offered as a matter of convenience, I could have got it a little cheaper through the company I have my homeowners through, but if I remember right the Kubota coverage was only around $10 per month on my BX 22.
If I'm wrong about this please let me know.
Thanks
Greg Williams
It's my understanding that a homeowners policy will cover a tractor,provided it's being kept and used on the property that the homeowners policy insures.
Where the problem with the homeowners policy would be is if you took your tractor to another location(that is not associated with your homeowners policy) such as a freinds home or a Little League practice field to do someone a favor and the tractor was stolen or anything else happened to it your homeowners policy WOULD NOT COVER THE LOSS.
It Is further my understanding that homeowners coverage doesn't cover a tractor in transit, such as being transported by trailer......a loss on the road would have to be covered by your Automotive policy.
Therfore if you have any plans on using you tractor anywhere besides the area covered by your homeowners policy I would recommend getting a suplemental policy for the tractor for peace of mind.....I elected to accept the coverage that Kubota offered as a matter of convenience, I could have got it a little cheaper through the company I have my homeowners through, but if I remember right the Kubota coverage was only around $10 per month on my BX 22.
If I'm wrong about this please let me know.
Thanks
Greg Williams
Kubota insurance would add about $650 to the price of the tractor (b7510) if I go 60 months..That is about $11.00 per month. The tractor would only be used on my property.. I'd rather use that money for something else.......My homeowners policy will cover it under my existing policy for the same things my home is covered under (fire,theft,etc.)
NY_Yankees_Fan
Veteran Member
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- Mar 4, 2002
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- 2,206
- Tractor
- Kubota BX 2200
Greg,
Make sure the Kubota coverage is for replacement cost and NOT ACV (actual cash value), or has a coinsurance clause. This is a good practice for any type of insurance you buy for your house and/or any property you own. Our minivan, which is 4 years old and has 100K miles on it, I have it insured for $27K for all coverages. In case you are wondering about this the coverage is called agreed amount coverage. I pay an extra $100 a year. The AVC is more like $12-15K on the van.
The difference being with ACV they will depreciate the value of the tractor based on the age of the tractor. With replacement cost you get what it would cost to replace the tractor, minus your deductible. Also the Kubota insurance is only for the life of your loan, when you get done paying you have no coverage.
Make sure the Kubota coverage is for replacement cost and NOT ACV (actual cash value), or has a coinsurance clause. This is a good practice for any type of insurance you buy for your house and/or any property you own. Our minivan, which is 4 years old and has 100K miles on it, I have it insured for $27K for all coverages. In case you are wondering about this the coverage is called agreed amount coverage. I pay an extra $100 a year. The AVC is more like $12-15K on the van.
The difference being with ACV they will depreciate the value of the tractor based on the age of the tractor. With replacement cost you get what it would cost to replace the tractor, minus your deductible. Also the Kubota insurance is only for the life of your loan, when you get done paying you have no coverage.
cpicton1
Silver Member
We have American Family insurance for our autos and homeowners. My agent assures me that our homeowners will cover anything that might possibly happen to my BX2200. Whether it be at home, towing on the trailer, at the farm or anyplace else. If it is damaged or destroyed it is covered. I have checked and double checked with our agent and that is the story. The trailer is covered by the towing vehicles policy and the tractor by the homeowners. All insurance companies have different rules and regulations, so you need to check with yours for specific information on your coverage. If your homeowners policy doesn't cover it I'm sure you can buy other insurance coverage on your tractor at less cost than the Kubota insurance. The dealer may make a little profit from selling the Kubota insurance. I don't know that for a fact but it is common practice for some businesses to sell insurance on their products and make a percentage of the sell. There's nothing wrong with that, it's just business. What I don't like is if they try to shove it down your throat. If you say no, I'm not interested, that should be the end of it. That's not always the case. If you are buying your tractor through Kubota Finance all you need to do is provide a document from your insurance company proving that you have coverage.
It's nice to have a local agent that you can talk to face to face.
Good luck, hope you enjoy!
It's nice to have a local agent that you can talk to face to face.
Good luck, hope you enjoy!
KubotaSteve
Platinum Member
- Joined
- Dec 4, 2003
- Messages
- 834
- Location
- eastern panhandle of WV
- Tractor
- Kubota B7800 with loaded R-4s
I was told by my dealer that since I was financing a portion of the tractor I would either have to buy the Kubota insurance or provide the name and agent of my homeowners policy. Upon contacting my homeowner's, he stated that if the tractor is 30 HP or more a separate policy is needed. He said he would check to be sure since my 7800 is rated at 30 HP. I haven't heard back yet.
