Kubota Insurance

[8upbowhunter]

I recently bought my tractor (will take delivery tomorrow) and since they offered 0% interest for 60 months I went that route instead of paying it outright but had to buy the insurance to get 0%. Anyone have any experience with their insurance? Is it worth the cost, any issues getting claims paid etc? I know it covers theft and a few other things but I am not yet sure of everything that is covered. I do have the option and money to pay it off early without a penalty if I deem it isn't worth the cost. Any info/help good or bad is appreciated.


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[AndyM]

I found a rider to my house insurance was quite a bit cheaper. Can't say how the claims coverage would work out and hope not to have to find out!

 

[North Idaho Wolfman]

My take on it, if the insurance cost as much as the interest would have cost you, then your no further ahead.

 

[lugbolt]

Have dealt with the Kubota insurance quite a bit. It's seamless at any Kubota dealer. Drop tractor off (or have them pick it up, they'll pay transportation charges), they call you when it's done. Pretty simple. You do have to call Kubota insurance to start a claim though, but that's about all you need to do.

I've seen them pay for stuff that should not have been "Insurance claims", and I'll leave it at that. For no more than it costs, yes, absolutely worth it! Actually, IMO, if you have Kubota's insurance, then there's absolutely no sense in buying into their extended warranty, since EW doesn't cover certain things.

Say youre driving along, let's say bush hogging. You hit a, oh I don't know, maybe a tree limb. You don't even know it because your really nice Ultra Grand II cab tractor is so quiet and smooth that you don't feel it unless you hit a tree or a brick wall. Said stick, or limb, punctures the radiator and coolant leaks out while running, overheats the engine, and then the engine subsequently destroys itself due to overheating. Extended warranty ain't gonna help you. I've seen rider policies decline stuff like this. But I've seen Kubota's insurance pay for it. Quite a few times actually.

 

[Grouse Feathers]

Do a search on Kubota Insurance, there have been several threads with lots of information and opinions on this topic.

 

[1970cs]

I am with Lugbolt on this! I have seen them pay some really stupid stuff with no questions asked!

Another thing that everyone seems to be glossing over is the deductible for homeowners. Not always a given, but most homeowners policies have a $1000.00, where the Kubota is $250.00

Also you have to watch for the Insurance companies that will not issue a binder and claim that it's listed on the policy, but Kubota insurance will not accept that, it has to be called out with serial and model numbers for each piece purchased.

Pat

 

[8upbowhunter]

Thanks everyone, I will do a search here in a minute for more info. The tractor will live about 2 hours from my home at my camp so theft is always a possibility. The dealer said Kubota is replacing tons of them in our area due to the flooding earlier this year. He told me there were a few that they were not certain if they were flooded or not and Kubota said replace them and get them out of service, no questions. I can always pay it off and cancel it later if I decide it isn't worth the cost so I am not locked in with no options.




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[bearskinner]

If you have a loan, you must have insurance. Compare the policy's. I had Kubota insurance on mine the first two years I owned it, paid off the tractor so I wouldn't have a payment, and dropped the insurance. K was priced the same as my homeowners.

 

[Gundoctor]

I had the same deal 6 years ago when I got my M7040. I had my farm insurance company forward to Kubota my rider and they took it. It was half what Kubota wanted.

 

[Jass]

My dealer suggested to check with my homeowners insurance carrier and they said they cover a tractor so long as less than 40HP, so I did not need to get the kubota insurance as a result. Suggest you look into that

 

[lugbolt]

Recently talked to a dealer I used to work for. Guy running the shop is a friend of mine. Anyway, they have an RTV-X1100 in the shop, engine is junk (knocking horribly, no compression on front cylinder). Guy changed his own oil and left the filter loose-which looks to me like it's easy to do given the location of the filter. It's a bear to get to. Anyway, the guy has it covered on his homeowner's insurance. They won't touch it. So he's got to eat a potentially $5000 repair. When I was working at that dealer, about 2 years ago we had a L3200 come in for almost exactly the same thing. Kubota insurance covered it no problem. $250, owner got a new engine, even though it was his mistake for not checking the filter. Leaked oil out while in operation, trashed the engine.

Over the years when I was doing this more for a living, I have seen guys run their equipment into ponds. Run them in fallen timber, I mean they should've been using a bulldozer, run sticks through the radiator. I remember one where a guy was using his tractor on a river bank and rolled the tractor off into the river. It was stupid, just dumb, to operate the tractor along the hillside like that, but Kubota insurance covered it, $250. Numerous times have had them in for tornado and/or storm damage. Hundreds of hoods, fenders, destroyed gauge clusters from hail, wiring harnesses eaten by rats. On the wiring, a harness for an L3301/L3901 is over $1000, PLUS labor for someone to install it (and it's pretty involved). If you have insurance, it's $250. Just before I quit, had a guy bring me a L3301 with a knock, smoke, and beeping in the dash. Diagnosed as a stage 5 DPF failure; in other words the DPF was plugged. The tractor had around 600 hours on it. DPF stage 5 happened at 280, so the guy had been running the tractor with a beeping noise which is VERY annoying, as well as a check engine light and 2 flashing lights, for 320 hours. Well for those who do not know, the DPF is just basically a screen inside the muffler that catches diesel soot. When it gets stopped up, the internal engine temperature runs really hot...hot enough to eat itself if it's allowed to continually run. Well what the man was doing was to start the engine, and it would run "normally" for about a minute or so, then it would de-rate the power automatically. It is programmed into the ECU to de-rate after a period of time with a stage 4 and 5 DPF. Guy had repeating this process for who knows how long. Absolute stupidity. There are flashing lights and buzzers and beepers telling him that there's a problem, and he ignores them, and destroys the engine in doing so. $250, and he got another tractor. The engine and DPF parts are so expensive to repair on the L3301/3901/4701 that it was enough to Kubota insurance to total it. Around $18,000 if I remember right. I seriously doubt homeowner's would touch a situation like that.

It is seamlessly operated. If you have accident or claim, you call the insurance company to report it. The dealer comes and gets it, or you take it in. Dealer takes care of the rest. Then you go pick it up or have it delivered. $250.

 

[tempforce]

i had a engine failure, due to oil loss. plus a bunch of physical damage due to large limbs falling on the tractor. hydraulic lines getting smashed. it went it for the engine repair. i had forgotten that i bought the insurance. anyway it took almost three months for the claim to be settled. the second adjuster split the job into two claims. one for the engine, another for all of the other damage. so two $1,000 deductibles. the tractor was fixed.
the repairs came to way more than the policy cost..
well worth the expense. plus the benefit of a very low interest rate.
the exterior damage to the tractor was due to clearing fire damaged property. moving logs, skidding logs. clearing/moving brush and the process of replanting.

 

[D2Cat]

Lugbolt, that's a good explanation from personal experience. Seems extremely reasonable since all is covered, not questions asked.

Homeowner's insurance can quickly become a "who done it when" game of trying to fine who is REALLY responsible.

I have St. Farm ins. for homeowners, farm, automobiles, business and umbrella policy. All totally different policies.

When I had a renter injured at the farm, and he filed a lawsuit. I had to go through a long interview process to determine how, when, and conditions of accident. Ins. company needed to know was the trailer hooked up to the truck when the manure spreader was pushed off. And a kazillion other details. They had to decide among them WHICH company paid for the damages.

If the truck was not connected to the trailer, it was the farm policy. If it was connected it was the truck policy. If they couldn't come to a conclusion...I guess the umbrella policy.....

Yes, there are several companies within St. Farm Ins.Company. The problem was covered, it was just a lot of time and interviewing to get going. I have nothing bad to day about the ins. co. They did an excellent job of protecting me. I still use them to this day.

I am just showing how ins. can get complicated.

 

[1970cs]

Were not trying to scare anybody into the Kubota insurance! Which had about 20% increase during the summer.

To support what Lugbolt was stating. We had a customer with L4060 put a stick through the oil filter and did not notice it. Well he ran it long enough to smoke anything that was rotating in the engine. Anybody care to guess which insurance he had?

His homeowners said we will pay for the filter and oil and the rest was his! Which well below what your deductible is any way.

IIRC parts and labor was around $5,500.00. Policy from Kubota would have been 40% of that repair for a five year policy.

You can roll the dice and win and sometimes you lose.
Or as we say at our dealership " Don't step over the $20 to pick up a $10"

Pat

 

[8upbowhunter]

I will stick with the Kubota policy. You guys should try dealing with homeowners down here after a hurricane, they nitpick every item and by the time they are done with your claim you are sick to your stomach. I am sure it's like that everywhere but the deductibles are sky high if it is a named storm and even worse if you live right on the coast.


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[RCW]

Bowhunter - I did the Kubota insurance also.

At the time, location was important for my homeowner's policy - only covered if at the house. Kubota insurance is not location sensitive. Might be important to you if it's at another location.

I don't travel much, but I do work at ALL my neighbor's houses at one time or another.

I paid the 60 mo. loan off in 24, and the policy ended. I was refunded the difference, since the premium was part of the monthly loan payment.

 

[8upbowhunter]

I never checked with my homeowners insurance but I would think their coverage is not the same as Kubota. Mine will be 100 miles or so away from home so if something happens I am covered. After I build a storage building for it and do a few things to disable it when gone I may pay it off and cancel the coverage.


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[Daren Todd]

When I was in the dealers purchasing my zero turn mower, a guy was in picking up his tractor. He was bush hogging trails at his deer lease. Had a tree branch wipe out the fuel pump. Part of the pump dropped down inside the engine. He put a new fuel pump on, drove it out of the woods, and had it quit on the trailer. The piece wiped out the cam the ran the fuel pump.

Ran a claim through his insurance and had it fixed. That sold me on the insurance for my mower. Insurance cost me about $300 for the full 4 year term on the loan.

 

[Daren Todd]

I will stick with the Kubota policy. You guys should try dealing with homeowners down here after a hurricane, they nitpick every item and by the time they are done with your claim you are sick to your stomach. I am sure it's like that everywhere but the deductibles are sky high if it is a named storm and even worse if you live right on the coast.


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It's the same with tornados as well. But also depends on the insurance company. Just from damage in my neighborhood, some insurance companies stepped right in and took care of there client. Other companies made there customers jump through hoops till they were blue in the face then cut them short on what they were covered for.

 

[8upbowhunter]

It's the same with tornados as well. But also depends on the insurance company. Just from damage in my neighborhood, some insurance companies stepped right in and took care of there client. Other companies made there customers jump through hoops till they were blue in the face then cut them short on what they were covered for.

Difference here is if it is a named storm (Hurricane) my deductible is $3,500.00, un-named storm ie tornado, tropical depression etc my deductible is $1,000.00. All of this started after Katrina blew through here and left the gulf coast a mess. A lot of insurance companies big and small stopped writing new policies in some areas and later when policies came up for renewal they said sorry we are not renewing yours, go find someone else which left a bad taste in your mouth about those companies. I will never have Farm Bureau again even if they do offer policies here now because they were one that 2 weeks before your policy was due for renewal said sorry we don't want your business.


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