I purchased a new B2601 and would like some info on the Kubota insurance plan. Is it a good value? I declined the extended warranty but I guess it is not too late for me to change my mind as my tractor has not delivered yet.
Kubota KTAC Insurance
- Thread starter robert2601
- Start date
It's an excellent value when you need it. If you never need it, it's a horrible expense. I purchased it because they will cover losses off of my property. My homeowners insurance only covers losses incurred on my property, not on my neighbors property, the road, or anywhere else.
Goz63
Well-known member
Equipment
Kubota L2501, LA525 loader, QH15,Land Pride RCR1860, BB2560, SGC0660, forks
It is a hit for sure but if you are going to really use your tractor it is great peace of mind. ANYTHING you do to it or any implements you bought with it is covered. If it falls off the trailer going down the road you are covered. Mesicks has a good video on it. Talks about a guy who had a barn fire and the loader was in the barn and burned up. $250 and here is your new loader.
Elliott in GA
Well-known member
Equipment
LX 2610SU w/535,LP RCR1860,FDR1660,SGC0554,FSP500, DD BBX60005
It seems to be a good value for the coverage; I bought it. You will sometimes hear people quote lower costs with third party insurance (homeowners add-on or separate policy), but you need to ensure that you are making an apples to apples comparison. KTAC provides for replacement coverage (not value at time of loss), covers you off your property and has 200K liability coverage (verify your umbrella threshold if applicable).
It's good value if you need comprehensive insurance. Insurance (to my mind) is there to protect you against unforeseeable and potentially crippling losses. So it makes sense if:
1. You think you may unforeseeably break, burn or lose your tractor. Some of that is within your control so you could be careful instead. Some of it isn't. Like any insurance, it's a collective thing - so if you're more careful than the average person, and less likely to have a fire or theft than the average person, then you're likely to on net lose money on it
2. You need your tractor, and you couldn't take the financial hit if something bad happened. In that sense it's like reverse gambling - most of the time you lose a small amount of money, once in a while it saves you from a really big loss. Actually, maybe that's just like gambling. But anyway, it makes sense if you can't afford the loss. If you can afford it, then across the portfolio of things you own and over 15-20 years, you'd probably be better off self insuring.
1. You think you may unforeseeably break, burn or lose your tractor. Some of that is within your control so you could be careful instead. Some of it isn't. Like any insurance, it's a collective thing - so if you're more careful than the average person, and less likely to have a fire or theft than the average person, then you're likely to on net lose money on it
2. You need your tractor, and you couldn't take the financial hit if something bad happened. In that sense it's like reverse gambling - most of the time you lose a small amount of money, once in a while it saves you from a really big loss. Actually, maybe that's just like gambling. But anyway, it makes sense if you can't afford the loss. If you can afford it, then across the portfolio of things you own and over 15-20 years, you'd probably be better off self insuring.
From all the research and Stories ive read about others having it. It sure seemed like a good deal to me. I got It for my lx2610
Elliott in GA
Well-known member
Equipment
LX 2610SU w/535,LP RCR1860,FDR1660,SGC0554,FSP500, DD BBX60005
One other thing to consider is that you need liability insurance - no matter what. You would not want to self-insure for liability; the potential for loss far exceeds the value of the equipment. Simple example, you are mowing on the road in front of your property, and a car collides with your tractor resulting in injuries. Even if you are not at fault, you will want the insurance company to defend you. This example is also potentially more complex, because you may or may not be on your property - depending on your deed, local laws on easements and etc.
You might want to roll the dice on the value of your equipment but not the potential liability.
Its been so long since I bought my tractor but I did get the Kubota insurance as I financed it for the five years 0%.(paid off in four yrs) but becouse I financed I had to get my own insurance or buy theirs. So I did.
And three months after buying my tractor I changed from Pallet Forks to Bucket and didn't lock in one of the quick connect handles fully. Went up the driveway to do some digging in the ditches and after three digs the bucket was loose and headgear was bent. It was like $450. in repair replacement at the local dealer.
I think the out of pocket was $200. or $250. But I was glad I had it.
I have it covered now under my business policy incase I do something stupid again.
And three months after buying my tractor I changed from Pallet Forks to Bucket and didn't lock in one of the quick connect handles fully. Went up the driveway to do some digging in the ditches and after three digs the bucket was loose and headgear was bent. It was like $450. in repair replacement at the local dealer.
I think the out of pocket was $200. or $250. But I was glad I had it.
I have it covered now under my business policy incase I do something stupid again.
What is the typical cost of the KTAC insurance? I have a new 2601HST being built (ready in about 10 days) with loader/backhoe/grapple. The Dealer didn't mention it at all, seems like a good idea. My Homeowner's insurance (USAA) only covers $ 3K and they don't offer a rider to increase that amount
Granted I don't have anything to compare to, but that doesn't seem to be too bad.
D
Deleted member 47704
Guest
I have Progressive on my side x side and my daughters Polaris Ace. Its like $150.
a year for both. 2014 and 2015. But you might check with them for a quote.
a year for both. 2014 and 2015. But you might check with them for a quote.
This is a question that just came up for me. I ave an L4060HSTC on order, financing through Kubota 0/84 and insurance is required. This is my second Bota financed through Kubota, the first one I went with homeowners. I actually still have the rider for it on my policy, but I also have a $2500 deductible. It only covers damage if done by barn, weather, or theft. The KTAC goes a step above in covering off the property where HO does not, and if it gets damaged by doing something stupid, full replacement value.
I could put a $44,000 additional rider on my policy, but unknown what the cost will be, and it has three limits that KTAC does not. So I am considering going the KTAC route instead of homeowners, that plus my insurance rep has a nasty receptionist that I can't stand dealing with.
The more I look into it, the more appeal it has, especially considering the deductible is 10% of my HO one. If something breaks out of warranty during normal use, like the gear set in the HST, it gets covered. That is what was stated in the Messicks video on KTAC.
So, has anyone actually had use of it? I will contact the dealer to get a price quote on it, can it also be done outside of the dealer?
I could put a $44,000 additional rider on my policy, but unknown what the cost will be, and it has three limits that KTAC does not. So I am considering going the KTAC route instead of homeowners, that plus my insurance rep has a nasty receptionist that I can't stand dealing with.
The more I look into it, the more appeal it has, especially considering the deductible is 10% of my HO one. If something breaks out of warranty during normal use, like the gear set in the HST, it gets covered. That is what was stated in the Messicks video on KTAC.
So, has anyone actually had use of it? I will contact the dealer to get a price quote on it, can it also be done outside of the dealer?
TheOldHokie
Well-known member
Lifetime Member
Equipment
L3901/LA525, B7200DT/B1630, G2160/RCK60, G2460/RCK60
I have not used it but its trivial to have your dealer sign you up during your purchase. I never left my office chair.
Dan
Joepa
New member
Lifetime Member
Equipment
2021 Kubota M7060HD12, front loader, pallet forks, root grapple
I sent an inquiry in to a nationwide rep near me, waiting to hear back as they are ag specialists for farm and ranch and am looking to change carriers if I can get better rates and lower deductible. My auto insurance is with Gieco, 3 cars and an RV, and no one has YET been able to beat their rates even after 2 total posses paid out, none at fault though which makes a bit difference.
Hmm, I wonder if Gieco has tractor insurance, will have to look that up, but they don't have farm coverage, already asked.
My KTAC insurance will run out in November of ‘22, MX5200, box blade, 72” brush hog and FEL. Options after, USAA, ?????? Open to options or ideas, thank you!