The finance companies only require that you HAVE physical damage insurance, not who you have to use for it.

The thing many people miss out on is that they think it's like car insurance and it's not, in one major way. The insurance these finance and equipment companies sell is physical damage ONLY. There is no provision at all for liability. I sold it for years with John Deere financing and tried very hard to make sure people understood that.

The other catch with JD Insurance (I'm assuming they're all this way) is that the insurance was tied to the note. If they paid it off early, the insurance cancelled with the loan payoff.