Does anyone know about KTAC insurance. I always thought you could insure any Kubota based on book value. They tell me that KTAC is only available if I purchased the tractor within the last 30 days from a Kubota dealer. Has something changed because I'm pretty sure I had a quote only a couple years ago and that wasn't an issue. The machine is a b2620?
KTAC ins question?
- Thread starter mike paulson
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TheOldHokie
Well-known member
Lifetime Member
Equipment
L3901/LA525, B7200DT/B1630, G2160/RCK60, G2460/RCK60
I think they're more interested in securing loans than in insuring older tractors. KTAC insurance even covers the tractor if it comes flying off a trailer and gets destroyed, or if it catches on fire because of operator error. I can see if they were going to do that, they'd want to get another tractor in the owner's hands ASAP to help prevent defaulting on the loans.
I am about to buy an L4060HSTC and KTAC is heavily on my mind. $58 a month, $250 deductible with full replacement for 5 years. My HO won't cover away from home use, travel damage, and has a $2500 deductible for $158 a year. I highly doubt it would give full replacement value either.
Just waiting on the final numbers to see how much I need to put down for the loan to fit my budget.
After the loan is over you can get an annual contract on the tractor, but after 5 years no full replacement, depreciation value like all the rest, but still get damage coverage, and all the rest.
Call 800 348-5802 to get a quote on your older tractor. They can answer whether or not yours can be covered as they do offer after finance insurance but only on Kubota products. If I were to insure my B2410, they would cover the loader, tractor, but not the Woods backhoe.
Just waiting on the final numbers to see how much I need to put down for the loan to fit my budget.
After the loan is over you can get an annual contract on the tractor, but after 5 years no full replacement, depreciation value like all the rest, but still get damage coverage, and all the rest.
Call 800 348-5802 to get a quote on your older tractor. They can answer whether or not yours can be covered as they do offer after finance insurance but only on Kubota products. If I were to insure my B2410, they would cover the loader, tractor, but not the Woods backhoe.
Yes KTAC (underwritten by Ohio Indemnity) has made a TON of changes. They had to. People were taking advantage, which costs the company more than they were taking in, which means they gotta pass the costs on somehow, and limit a few things.
I saw much of it when I was at the dealer.
Regardless, I still like KTAC over HO.
I saw much of it when I was at the dealer.
Regardless, I still like KTAC over HO.
Another advantage of KTAC ( If you are getting coverage for a tractor). is that a claim on a KTAC policy will not effect the premium cost of your homeowners policy (HO policy). If yo have your tractor covered on an HO policy it would count as a chargeable loss. 1 claim in 3 years is not too bad maybe a 5-10% increase in premium. But if you have 2 claims in a 3 year period I have seen premium hikes of 50% or more... (At least in Michigan).
Yes, another reason I went with KTAC. When we first moved in here in 2001 a tree fell on the house damaging the roof. That was a claim, we had a $500 deductible. Then later on that year someone broke into our barn and stole my toolbox. How did they know it was in there, don't know, but I have my suspicions it was the guys who worked on repairing the roof and gutters. That was another claim, after that they raised the deductible up to $2500. Our HO is over $2300 a year now, and because State Farm, Allstate and the others do not have "farm" coverage, we are limited in where we can go and have not been able to find anything less expensive.
Try going to www.trustedchoice.com it is a website run by the independent insurance agent's association. From that site you can find a local independent agency that will write farm coverage.
That said farm coverage is broader than a homeowner policy as it takes in account that there is business activity going on.
Not sure who writes farm coverage in I'll but I know there will be several companies. Hastings usually has good prices in Michigan. But they are not the only company that I use.
I'll check it out. I had received a quote from one of the local agencies that does farm insurance, and the rate was no better than what I already have with the same deductible, and auto insurance was higher, if I wanted a lower rate I would need the big brother oversight ODBII plugged in.
Ahh yes the tracker that goes in the OBDII port. Back when I did personal lines. Progressive was 1st coming out with it. And offered it to agents to try to see how it worked regardless of what company the agent had their policy with. It just had the link to the website that showed what it tracked. I was not a good candidate LoL. Got to be a game to see how many hard braking and hard acceleration event's I could have. For some reason it when up a bunch when I plugged it in one of my boys LS powered Trans Am 6 speed....
Also it beeps when you stop ( for what it considers) too fast. Annoying as H* double hockey sticks
Butch
Active member
Equipment
Kubota 2410, RC60-24B, FL1000- kubota hydrolic front snow blade- plug aerator
I work my tractor... it is not a garage queen by any standard. Bought her new and do all the wrenching and maintenance myself. It is a 2000 B2410 HSD 4 wheel drive. It runs and looks like it about 2 yo.
I swear by KTAC... There are at least 4 situations over the last 22 years that came too close for comfort that would have required the dreaded KTAC call (1 was due to operator stupidity .... me, 1 by mother nature and 2 while in transport off property).
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Are you still carrying KTAC insurance after the loan is paid off? I was under the impression that KTAC is available only under the loan period then is no longer available?
You can purchase an annual contract after the loan, just give them a call for details and a quote. It doesn't have the full replacement value, pro rated instead, but similar coverage for everything else.
JeepinMaxx
Member
Lifetime Member
Equipment
BX2660, LA243 FEL, RCK54P-23BX MMM, BX2751 QH Subframe, BX2750D 50" Blower
I purchased KTAC insurance on my used BX2660 with loader and MMM in 2019 no loan. For a value of $18,200 it cost me $284 / year $250 deductible. Covers way more than doing a homeowners insurance adder and covers the tractor off property. And damage due to operator error! (like a roll over)
Butch
Active member
Equipment
Kubota 2410, RC60-24B, FL1000- kubota hydrolic front snow blade- plug aerator
Oh yes! I have a current annual policy from KTAC. If you are like most of us here we take our tractors off property frequently especially during the winter to clear driveways for our neighbors and occasionally trailer/tram it along public roads. KTAC makes sense unless you have $20K handy to replace your tractor and implements (covered separately under KTAC policy)
Note; If something would happen on or off your property KTAC covers the tractor and covered implements only.
Also, KTAC is not a liability insurance. That's where a conversation with your insurance agent would be advised and anything short of a policy tractor liability endorsement should have a paper trail between you and your agent.
All in all, KTAC gives me great peace of mind and when I couple that with the liability coverage my Homeowners gives me.... I feel my bases are covered. Contact KTAC directly. They will send you everything you need to know to evaluate their services and give you quotes.
I agree KTAC is great insurance and I have it now. I thought that it was more of an insurance that protects Kubota credit corp and is therefore only available while you have an active loan through Kubota credit. Good news that I was incorrect!
When you pay off your loan they will send you a quote for 1 to 3 year terms. Just renewed my machine After payoff.
I just renewed mine in Oct last year on my L3901DT, FEL and backhoe. Paid off the loan 4 years ago.