KTAC Insurance: Kubota Tractor Insurance Cost From $15/month

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Kubota Tractor Corporation (KTC) boasts quality equipment, making Kubota a business partner that helps with the heavy lifting. These tractors are quite the investment which is why you might want to approach Kubota Tractor Acceptance Corporation (KTAC) Insurance to help protect your equipment. In this guide, know what KTAC insurance is, how much you will pay for premiums, and more. 

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What is KTAC Insurance?

KTAC insurance, also known as KTAC insurance agency, steps in as the company that sells and manages the Kubota-endorsed property damage insurance for Kubota tractors in the USA. It is offering flexible options and an efficient claim process. Note that KTAC's Kubota insurance is a revenue-neutral program whose goal is to cover the equipment while making the financing relatively quick and seamless. This company’s Kubota tractor insurance gives you coverage on and off your property for exposures such as:

• Floods

• Vandalism

• Earthquake

• Theft

• Collisions

• Hurricane

• Tornado

• Upset rollover

• Hail

• Infestation

• Wind

• Falling objects

• Water damage

KTAC insurance covers your machine even when you use it for commercial purposes like renting it out. Additionally, the Kubota tractor insurance also covers the tractor if used off-property, meaning you can lend it out without fearing the financial repercussions of paying for damages out of pocket.

It is prudent to mention that KTAC insurance's property damage insurance policy is underwritten and issued by Ohio Indemnity Company.

Suppose you decide against getting the KTAC insurance and instead go with the typical homeowner's policy. In that case, some of what's covered within Kubota insurance will not be included within your homeowner's policy. For instance, coverage for some of the events covered within the specialty insurance from Kubota is not included. Besides, you might have limitations on the amount of coverage you could get. Moreover, with the typical homeowner's policy, the claims end up being handled by multiple parties who might not have pertinent product knowledge.

Further, suppose you go with the property damage policy through KTAC. You get insured for some of the risk factors covered within the KTAC insurance. Note that in this scenario, you are insured up to the original sales price. Moreover, the claims get to be handled by professionals that are industry experts and who have an appreciation for Kubota equipment.

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How Does KTAC’s Insurance for Kubota Tractors Work?

KTAC’s insurance for kubota tractors is a fusion of different coverages for tractors. Namely, the functions of theft insurance, equipment breakdown insurance, and physical damage insurance for tractors are  incorporated in its specialized insurance program.

Tractor Theft Insurance

Also known as tractor theft coverage, this policy takes care of any costs if your tractor were to get lost or damaged due to theft. Further, consider a situation where thieves were to get away with part of your tractor or damage it, this theft coverage will take care of the repair or replacement expenses. If the tractor was to be stolen in its entirety, then the theft coverage will reimburse you the purchase value of the tractor. 

Note that KTAC includes the terms of the theft coverage within the Kubota-endorsed physical damage insurance policy for tractors. Similarly, it's prudent to mention that the reimbursement provided to you will be sufficient to cover financial losses of the tractor as a result of the loss of the tractor. Reimbursement will be based on the covered unit's depreciated or non-depreciated value. 

Tractor Equipment Breakdown Insurance 

KTAC insurance provides funds if the tractor incurs damages either on-site or off-site due to the above factors. Kubota allows this tractor equipment breakdown insurance to act as tractor trolley insurance, that way protecting the tractor , the trolley,  and all its other attachments in the event of damages. 

The goal of the tractor equipment breakdown insurance is to take care of some of the maintenance costs. Kubota recognizes that maintenance can be expensive, and in a bid to ensure that their customer gets the very best in terms of replacement units and adjourning repair, they are committed to providing some sort of cushion when it comes to the repair of any damages to their tractors. 

Physical Damage Insurance for Tractor 

As you buy your Kubota tractor, you are expected to protect this investment with physical damage insurance. The latter is meant to cover your tractor in the event that the unit sustains damage caused by specific exposure. 

Kubota insurance underwrites the physical damage insurance for tractors as either a comprehensive policy that covers parts repair or replacement if it were to suffer damage as a result of the covered perils. 

On the other hand, the physical damage insurance can also be underwritten as a collision policy which would then step in to take care of repairs or replacement of the parts that get damaged following the crashing of the Kubota tractor into an object or vehicle while it was on the road. 

Exclusions In KTAC's Kubota Insurance Policy 

With Kubota equipment insurance sold by KTAC, your tractor is covered for a lot of common incidents that might occur at the farm or while the equipment is on the road. However, there are a few exclusions that you need to be aware of.  For starters, you are not covered for any:

• Mechanical breakdown

• Wear and tear

• Terrorism

• War

• Nuclear accidents

Note that this is not the exhaustive list of the exclusions within the KTAC insurance policy. You will need to read the fine print within your policy document to find the complete list of what is not covered. 

What is KTAC Total Loss Replacement Option?

KTAC insurance includes a  Total Loss Replacement Option in its Kubota-endorsed property damage insurance. 

With this option, you receive the original sales price as reimbursement for a covered equipment. This is advantageous to you as the customer as the depreciation is not considered. 

Conditions that you have to meet to qualify for the total loss replacement option include:

• The equipment must be currently financed by Kubota Credit Corporation

• For the retail installment contracts, the loss must have occurred within the first 60 months of the contract term 

• Replacement equipment must be new and of similar quality as the original manufacturer's and must have been purchased from an authorized dealer 

• You must have purchased the replacement within 60 days after the date when you filled the claim settlement

Why KTAC’s Kubota Insurance and Not A Homeowner’s Policy?

You can cover any tractor under a homeowner’s policy, provided that it has a personal article’s coverage or contents coverage. The downside of a homeowner’s policy is that it might be lackluster. Take a look at this table that shows why KTAC insurance is better than a homeowner’s policy when insuring tractors:

Term Policy vs Annual Policy 

KTAC’s property damage insurance for Kubota tractors is available as a term policy or annual policy. Both are good options.  By going for an an annual plan, you’ll enjoy the following:

• Meet the insurance requirements for Kubota credit-KTAC will tailor the coverage so that you can easily meet the insurance requirements for Kubota tractor financing. KTAC’s Kubota insurance when bought as a term plan is an “all-risk” insurance policy, and Kubota Credit will be automatically named as loss payee and a lien holder on its terms

• Lock-in rate- Your term Kubota tractor insurance from KTAC will not have hidden charges. Adjusters see to it that your premiums remain stable while the Kubota tractor is under a loan regardless if a claim is filed or if an issue occurs with policy management 

• Premiums included in retail contract payments-If you’re an owner of a Kubota tractor still financed by Kubota Credit, then know that your premiums will be automatically included in your monthly installments for the tractor. And so, you can pay for insurance and your tractor in one go 

• Total Replacement Option-The total replacement option we discussed above is only available if you decide to opt for a term coverage with KTAC

• $250 Deductible-All of the coverages included in KTAC’s insurance program for Kubota tractors is set at $250. This means that you’ll get the most from the coverages you’re paying for 

If you don’t want a term plan, then KTAC’s Kubota insurance is also available as an annual policy. The following are its perks:

• Flexible annual payment options-KTAC’s adjusters will devise a very flexible annual payment option if you go for an annual plan. This makes it easier for you to budget for insurance and predict expenditures for premiums 

• All inclusive-Buy KTAC’s Kubota insurance as an annual plan and you’ll not only have your tractor insured but also its attachments and underlying equipment

• Fast policy renewal-Renewing a policy is easy. You just need to file a policy renewal request and KTAC will tend to it provided that you haven’t breached the prohibitions stated in the fine print

• Cheap rates for fully paid tractors-KTAC’s annual Kubota insurance becomes cheaper if your Kubota tractor isn’t loaned from Kubota Credit or any other financing institutions 

• Continuous coverage-KTAC’s annual Kubota insurance doesn’t only cover tractors under financing. Coverage is still available if your tractor has long been paid. In other words, you can choose to purchase it while you’re still paying for your tractor up to completely satisfying your loan 

How To Get KTAC Kubota Tractor Insurance?

The easiest way to get Kubota tractor insurance is to look for a Kubota dealer. Kubota dealers are authorized to help customers get insured. By working with one, you can get insured by KTAC without filing any forms. Note that the insurance is available in all 50 states of the US. 

Is Kubota Insurance Only Available In The USA? 

Kubota-endorsed property damage insurance isn’t only available in the USA. You can also get this in Canada provided that you bought a tractor in the country through a financing option offered by Kubota Canada Ltd.  Note that the policy is underwritten by Chartis Insurance Company of Canada. Let’s quickly discuss the features. 

Just like its USA counterpart sold by KTAC, Kubota insurance when bought in Canada also offers a replacement option. Particularly, you’ll enjoy full reimbursement for the totaled tractor's original selling price. 

Convenient payment of premiums is also implemented. Your rates will be automatically included in the monthly payments of your Kubota financed tractor. 

Perils included in the policy are wind, flood, theft, windstorm, hail, fire, and vandalism. If you think about it, coverage is a bit lackluster as compared to the specialized Kubota insurance sold by KTAC in the USA, which covers 13 perils. Also, exclusions are more numerous namely:

• Government seizure

• Malicious acts of the renter or borrower

• Mechanical breakdown

• Wear and tear

• Nuclear accidents

• War

• Terrorism

One question we have to answer is “Does the Kubota tractor insurance in Canada provide coverage if you take a covered tractor to the US?”. The answer to this is a no. Kubota-endorsed property damage insurance doesn’t have worldwide coverage. In other words, it only applies in the country where it’s bought. 

Does Kubota Insurance Only Cover Kubota Tractors?

While KTAC’s Kubota insurance is usually bought for tractors, the policy doesn’t limit itself to the said machines. KTAC’s brochure shows that customers can also insure their Kubota RTVs. Going with this, it’s also possible for you to insure a kubota excavator, bulldozer, or any related machines manufactured and financed by the company. As we said earlier, large pieces of Kubota equipment can also be covered by Kubota tractor insurance. 

Who is KTAC's Kubota Endorsed Property Damage Insurance Best for?

KTAC’s speciality insurance is best for the following businesses or individuals using Kubota tractors or any other equipment manufactured by the company:

• Homeowners: KTAC’s kubota insurance is perfect for homeowners looking for comprehensive and efficient insurance plans for their Kubota riding lawn mowers and zero turn mowers

• Farmers: Farmers can seek help from KTAC when it comes to insuring multiple Kubota farm tractors under one insurance policy

• Construction businesses: Construction businesses shouldn’t shy away from insuring their Kubota construction equipment and heavy machinery with KTAC. This is especially true for contractors whose Kubota units are under a financing plan 

Kubota Insurance Cost  

Kubota remains the most reliable tractor brand. The brand offers more than 10 tractor models, with the smallest of these costing between $11,000 and $57,000. Seeing as these are quite the investment, getting Kubota KTAC insurance is a must.

Kubota tractor insurance cost $1.30 per one thousand dollar value of the tractor. This Kubota KTAC insurance cost applies when the Kubota tractor is financed by Kubota. On average, as a Kubota insurance policy holder, the average KTAC insurance cost is $34 per month or $407 per year for a one-stop Kubota insurance coverage. These Kubota insurance rates are subject to a couple of factors, including your previous claim history as well as the model and year of your Kubota equipment. The condition of the covered equipment also determines Kubota insurance cost. It is advised that you get the annual policy. That way, you can negotiate your Kubota insurance price to fit your budget. 

Suppose an event that you are covered for under the KTAC insurance occurs. You can submit your claim online by visiting the KTAC insurance agency's official website. Similarly, you can speak to one of the claim representatives over the phone. This filing of the claim needs to happen within 60 days as this reporting period cannot be extended. 

When filing your claim, there's some information that you ought to have at hand. This includes the serial number of the damaged equipment, the specific date that the damage occurred, an account of the events, and how you can be reached. You want to provide both your phone number and email address through which the agent can reach you. Finally, you ought to have the contact information of the dealer that will be completing the estimate and the repairs. In the event that you do not have a dealer in mind, Kubota can arrange for one of their trusted dealers to help with arranging for the repair of your equipment.  

After the claim is filed, an OIC adjuster will be assigned to your claim. They will help you with finalizing the claims process. The insurer is committed to making the claim process straightforward, ensuring that you can quickly get your insurance money.