Kubota Insurance?

[Indian MC]

Hey Folks,
Yesterday I was sitting on my rear end and decided to go through my Kubota paperwork for the 2601 I purchased last fall.
Like a good Ol' boy I read just about ever page of the Tractor Manual... But,, don't cheer me on yet I still have the FEL and Back hoe manuals to read.
Ok, I purchased. " Was forced to purchase " Kubota Insurance for my new machine.
Do any of you who were also forced to purchase Kubota insurance have a contract/paperwork in your hands?
Anything?
Seriously, I have nothing in my paperwork relating to any type of insurance on my machine.
Though, I am paying monthly for it.... SMH.

 

[jeff9366]

Like you, I have no KTAC paperwork.

However, having made two claims to KTAC on Kubota financed tractors in six years, one on each of two tractors, I have to report KTAC is easy to deal with and quick to pay WITHOUT paperwork.

Probably because your Kubota dealer is in the middle to evaluate/validate claims. As KTAC is paying for Kubota parts it is a closed loop in certain aspects.

LINK: Google:KTAC


Read SIMILAR THREADS box at foot of this page.

 

[Indian MC]

Like you, I have no KTAC paperwork.

However, having made two claims to KTAC on Kubota financed tractors in six years, one on each of two tractors, I have to report KTAC is easy to deal with and quick to pay WITHOUT paperwork.

Probably because your Kubota dealer is in the middle to evaluate/validate claims. As KTAC is paying for Kubota parts it is a closed loop in certain aspects.

LINK: Google:KTAC


Thanks,,, I just thought it was a little strange not to have any paperwork on something that one is paying for.

 

[Indian MC]

Here is my take on this.

Let's say I roll over my 2601 and total her out.... I submit the claim to Kubota insurance.
Do we think in our wildest dreams that Kubota will mail a check to cover the loss?
Nope,, they will look in their dealer network to replace your Tractor with a similiar used model off the parking lot of one of their dealers.
Seriously,, No matter what you have for Insurance, Home & Vehicle etc, you always have a Policy in hand.
No Terms of Agreement with this.

 

[s219]

KTAC is actually offered by Ohio Indemnity Company. It's "endorsed" by Kubota, but not offered by Kubota or tied to Kubota corporate. There are plenty of posts here on TBN (search for them) where people get checks to cover damage. I have no idea if they cover the full new replacement cost (doubt it) but they sure don't give you a used machine from a dealer -- they are not connected to or affiliated with dealers. I know in the case of repairs, they will work with a dealer to pay the claim, but that's like any equipment/vehicle insurance arrangement with repair shops and dealers.

The requirement for KTAC comes when you finance a tractor, and I'd almost bet the paperwork is between KTAC and Kubota Finance. You're not in the loop on that because it's not your tractor (yet)! The insurance is there to cover Kubota Finance's butt more than you at this point.

I bought KTAC for my first and second Kubota tractors that I purchased with cash, and did get paperwork. But in those cases I was the owner. The transaction was between me and KTAC. I got the standard policy paperwork (loads of fine print) as well as annual renewal notices, etc.

I stopped KTAC insurance on my L3200 after three years, and never got it for my 2016 RTV since new. Just haven't felt the need.

 

[jeff9366]

INDIANMC: If you are new to operating tractors I recommend KTAC insurance because in the learning curve it is probable you will incur some damage.

 

[Tractor Seabee]

I just paid for the second year after paying off the BX. In my opinion; for what they cover it is a no brainier to keep it. $315/yr for ther BX, the brush hog, and the rototiller. Yes, they do cover any implements that have a model and serial number by Land Pride (now owned by Kubota). Not sure on other brands. They will send you the policy if you ask. When renewing at KTAC Online Payment it is a down loaded receipt and policy on that site.

At $1800 in premiums I have collected over $8000 in casualty repairs over 6 years. No hassles at all. I would not have not been able to self insure for that much cost.

Ron

 

[Indian MC]

Sounds good! Everyone here is giving the insurance nothing but praise. I just get a little spooked when I'm pressured into purchasing something and then later on it doesn't seem to go with the norm. Personally, Yes, I can see Kubota requiring this.
When I purchased my machine, they were offering zero down with zero % financing. Which tells me that Kubota is holding the full note for a gazzilion pieces of equipment. If one goes bad.. If one faults on their loan.. total her out.... Kubota is holding full recourse. The Kubota dealer will take your machine back for resale. Kubota is holding the responsibility. They're covering their *** if the customer defaults or has a catastrophe.
When I purchased my 2601 & FEL and Backhoe I put half the money down on the package.
The sales person fought me tooth and nail not to put "any money down" at all.
Funny,, I myself sell retail online. This is an excellent sales tactic. " Keep the down payment cash $ money in the customers pocket "
If you can do that,, they will have free cash to purchase implements and toys from your dealership later on down the road.
All is good.

 

[KTAC]

Here is my take on this.

Let's say I roll over my 2601 and total her out.... I submit the claim to Kubota insurance.
Do we think in our wildest dreams that Kubota will mail a check to cover the loss?
Nope,, they will look in their dealer network to replace your Tractor with a similiar used model off the parking lot of one of their dealers.
Seriously,, No matter what you have for Insurance, Home & Vehicle etc, you always have a Policy in hand.
No Terms of Agreement with this.

Indian MC,

You're wrong about the claim process and payment.

For a previous post from someone else, the dealer should have provided a copy of the insurance dec page. The dec page prints out with the contract and other documents so you should have left the dealership with everything you need. If you didn't get one, call KTAC at 800-348-5802 and we will be happy to send you a copy.

As far as the claim process, KTAC is not in business to handle dealer inventory or Kubota's inventory for that matter. For a total loss (including theft), the insurance payment is made to the policy holder which is either Kubota Credit (if the equipment is financed) or the owner (if paid off). If the equipment is damaged and needing repair, the check is cut to an authorized repair shop and the customer has to endorse the check (to verify they are satisfied with the repair). My wife's car (Lexus) was wrecked and our insurance provider told her to take it to some independent repair shop. I called them back and told them the Lexus dealership she bought it from will be doing the repair work because I wanted Lexus parts and paint. They finally made an "exception" and agreed to pay extra for the Lexus dealership. Note: I got stuck with my wife's old car so you better believe I am going to take care of her new one!

 

[Fallon]

I searched for cheaper insurance through my homeowners & elsewhere for my old L3200. They were happy to sell me policies with less coverage (No off property, no commercial, way higher deductible) for significantly more money than KTAC.

I didn't even bother looking at other options when I sold the L3200 & upgraded to the L4060. KTAC for the win.