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| COVERAGE |
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| UltraGard provides coverage for the following accidental direct causes of loss or damage: |
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Collision
Earthquake
Fire
Flood
Hail |
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Lightning
Rock Ingestion
Theft
Tornado
Upset or Overturn |
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Vandalism
While in-transit
Wind |
| COVERED PROPERTY |
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Machinery, equipment, attachments, trailers designed to transport machinery or equipment:
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- Sold or leased under a
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Loan Contract /Retail Installment Contract / Equipment Lease |
- Consumer Products sold to rental businesses on a loan contract Security Agreement
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(Repair and overhaul contracts are not eligible for UltraGard physical damage coverage.) |
| EXCLUSIONS |
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Government Action |
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Unexplained Disappearance |
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Nuclear Hazard |
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Wrongful Conversion by insured |
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War and Military Action |
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False Pretense |
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Delay, Loss of Market |
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Unauthorized Transfer |
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Faulty material, or faulty workmanship, inadequate design |
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Wear and tear, hidden latent defect, gradual deterioration, depreciation, mechanical breakdown, corrosion, dampness, cold or heat |
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| DEDUCTIBLES |
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The deductible is based on the use at the time of loss: |
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Agricultural and Consumer use |
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$500 |
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Effective 01 July 2005, all cotton strippers financed on a John Deere Financial (JDF) retail note or lease, which include UltraGard Physical Damage Insurance, will have a $500 deductible (reduced from $5,000 deductible). This change applies to JDF contracts with an effective date of 01 July 2005 or later.
Effective 01 July 2003, the deductible on cotton pickers will be $5,000 for any loss, except by fire. For loss caused by fire, the deductible is the greater of $5,000 or 3% of the original selling price (prior to any trade-ins or other allowances.) |
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Commercial and Construction/Industrial use |
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$1,000 |
| VALUATION |
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Actual Cash Value |
Last Modified: June 28, 2017
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