KTAC Claim Experience

[ZackA]

I’ll keep the story short as I’m just looking to see if anyone has run into something similar.

I appeared to have hit a small rock brush hogging at some point with my 2019 L3301, and it took a chunk of my oil pan with it. Initial conversation with dealer after filing with KTAC has me now sweating. He said insurance usually replaces engine when the possibility of running without oil is present. He stated it would probably be over $14,000 to replace, and my tractor is covered through KTAC for $17,415 as that’s what it was bought for new. If totaled, a new one is several thousands more. Would the owner have to pay that difference if that’s the route it goes? Or does KTAC kick in the extra to replace the machine? The policy chart is a bit confusing to comprehend, so looking if anyone has been down this road.

Thanks in advance.

 

[TheOldHokie]

Quite frankly you are going to get a lot of opinion and little if anything factual here.

Dan

 

[Henro]

Quite frankly you are going to get a lot of opinion and little if anything factual here.

Dan

I thought KTAC replaced in kind, and I don't remember reading in the past that there was any kind of consideration when that happened. Could be a set deductible per occurrence though, don't know... interested to hear more...

 

[tlefire]

My understanding is they pay you what you paid for the tractor, minus the deductible. Sooooo, you could not claim the insurance, pay 14,000 for a new engine, or file and let the insurance pay for a new engine or give you your money back at their discretion.

 

[DustyRusty]

My understanding is they pay you what you paid for the tractor, minus the deductible. Sooooo, you could not claim the insurance, pay 14,000 for a new engine, or file and let the insurance pay for a new engine or give you your money back at their discretion.

Could someone please decipher the above message? I was a physical damage adjuster, and I could not intelligently say that without seeing the actual policy that was in effect on the day of the event, no one knew exactly how the claim would be handled.
If I owned the tractor, I would have the dealer pull the pan and determine if there is any damage to the engine. A lot depends on how soon the engine was shut down after the loss of the oil. There might be no damage to the engine, or there could be significan't engine damage. Only by removing a couple of bearing caps can one know for certain.

 

[The Evil Twin]

Like anything that gets totalled, why would you expect K to give you a brand new unit in place of your used one?
Hell, if they do then I might [deleted] shortly before the KTAC expires.

 

[tlefire]

The Collateral Physical Damage Installment Sales Policy (“Term policy”) is offered
with the Kubota Credit Corporation, U.S.A finance agreement and includes Original
Sales Price Protection. Premium is included in the monthly retail finance agreement
payment.

Straight from KTEC website. The policy will pay off your original loan, including sales tax and fees, and gives you the rest. But, and it's a big but, you have to buy the same or similar tractor within 60 days.

At least this was how my dealer explained it 6 years ago when I purchased my tractor. And yes, I got it in writing.

 

[The Evil Twin]

The Collateral Physical Damage Installment Sales Policy (“Term policy”) is offered
with the Kubota Credit Corporation, U.S.A finance agreement and includes Original
Sales Price Protection. Premium is included in the monthly retail finance agreement
payment.

Straight from KTEC website. The policy will pay off your original loan, including sales tax and fees, and gives you the rest. But, and it's a big but, you have to buy the same or similar tractor within 60 days.

At least this was how my dealer explained it 6 years ago when I purchased my tractor. And yes, I got it in writing.

I had to edit my previous post to eliminate any potential evidence of my new plan

 

[lugbolt]

Could someone please decipher the above message? I was a physical damage adjuster, and I could not intelligently say that without seeing the actual policy that was in effect on the day of the event, no one knew exactly how the claim would be handled.
If I owned the tractor, I would have the dealer pull the pan and determine if there is any damage to the engine. A lot depends on how soon the engine was shut down after the loss of the oil. There might be no damage to the engine, or there could be significan't engine damage. Only by removing a couple of bearing caps can one know for certain.

you don't remove main bearing caps on kubota engines (well most of them). You remove the engine and pull the crank out of the back of the block-adds labor cost which KTAC may or may not be willing to pay. You can pull rod caps in-frame though. But they don't always tell the whole story and that's one of many reasons KTAC generally doesn't deal with "rebuilds" in cases like this. Have to call KTAC and ask them.

"Usually" KTAC would cover the vehicle up to the cost of the tractor. If new tractor costs more, you're on the hook for the additional, and you'll get the originally-installed loader and any implements or attachments removed from the "old" tractor and installed onto the new. Maybe that's changed since I got out of it, but that's how they used to do it.

 

[DustyRusty]

You are correct about them putting the old loader and backhoe onto the new tractor. I have seen several KTAC salvage auctions for BX23S tractors without the loader or backhoe. The only time that I have seen them with the salvage tractor is when they are damaged as in a rollover. Having been watching these salvage auctions for a few months now, it seems that there are 2 buyers that get most of them. One is in Texas and the other is in Canada.
I purchased a snowblower from a Salvage Auction, and other than a few parts having shifted when the snowblower ingested a piece of wood, it was in perfect condition. My only conclusion was that the dealer didn't want to gamble to take it apart to check the damage, and it was replaced by KTAC. After a few hours of work, it was good as new. The only new parts needed were shear pins.