Do I have John Deere Insurance coverage on my equipment?
The insurance indicator is located on the original lease documents on the Master Lease Schedule. There is a section titled "Physical Damage Insurance". The section is located on the right side of the page near the middle (top to bottom). The box marked indicates the type of insurance, if any, that pertains to the equipment.
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Will I get a refund of insurance when the lease pays out?
If you terminate your lease prior to the maturity date the unused insurance premium is calculated into the buyout figure. If you terminate the lease at maturity there is no refund of insurance premium.
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The equipment I am leasing has been damaged. What do I do?
- Report the incident to your insurance company immediately. They will guide you through the claim process.
- Inform John Deere Credit that there is an insurance claim being filed.
- Any payments that become due remain the responsibility of the lessee.
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I have a check from my insurance company in payment of damages sustained to my equipment. John Deere Credit is listed as payee with me. How can I use this check to pay for repairs?
Send a letter to John Deere Credit requesting that the check be endorsed and returned to you. Be sure to include the check (do NOT endorse the check) and a copy of the work order with your letter. The check will be endorsed and returned to you via regular mail.
John Deere Credit Customer Service
Attn: Insurance Coordinator
P.O. Box 6600
Johnston, IA 50131-6600
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I have a check from my insurance company in payment of a total loss to my leased equipment. John Deere Credit is listed as payee. How should I handle this check?
- Call John Deere Credit at 1-800-275-5322 to obtain a buyout figure and an invoice.
- Endorse the check.
- Return the bottom portion of the invoice and the endorsed check to the address shown on the invoice.
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