Many residents of California own and use trailers on a regular basis. Whether you own a utility trailer for your lawn care service company, a boat trailer for your boat or a horse trailer to transport your prize-winning stallion to the Diamond Jubilee Benefit Horse Show, you can protect your finances by having a suitable trailer insurance policy. Although sometimes this extra insurance coverage is not mandatory, you may want to review a variety of trailer insurance quotes in California and consider purchasing a policy.
Number of Trailers Registered in California, 2000
- Total number of trailers registered in the U.S.: 21,541,490
- Total number of trailers registered in CA: 2,796,851, as follows:
- Commercial trailers: 692,226
- Light farm trailers, car trailers, etc.: 1,504,647
- House trailers: 548,640
- Federal government owned trailers: 379
- State, county and municipal government owned trailers: 50,959
Why Should California Residents Consider Trailer Insurance?
If you own a trailer, you have increased liability risks any time you go on the road with it in tow. There are a number of ways that you might cause an injury or property damage with your trailer. The most common occur when drivers misjudge a turn or clip another vehicle while changing lanes. Less common but more damaging are runaway trailer incidents that can occur if the trailer happens to detach from your vehicle while you are driving. In any of these cases, you may find yourself facing expensive liability lawsuits.
Chances are good that you already have some coverage through your auto insurance policy, but that coverage may be limited. If you carry trailer insurance as part of another policy such as boat insurance or ATV insurance your coverage will be more complete. If you do not carry a policy that includes trailer insurance and you want coverage, you will need to purchase a trailer insurance policy.
What Kinds of Trailers Can You Cover?
You can cover any type of trailer with trailer insurance, although some such as livestock trailers will need specialized coverage. Trailers for which you can buy trailer insurance include the following:
- Horse and livestock trailers
- Cargo trailers
- Utility trailers
- Travel trailers
- Auto hauler trailers
- Boat trailers
Whether you use your trailer for commercial purposes or personal use, there is a trailer insurance policy for you.
What Does Trailer Insurance Cover?
Whether you have trailer insurance as part of your auto, boat, business or other insurance policy or as a standalone policy, you can expect it to have the following coverage options:
- Liability coverage: This can provide the funds necessary to compensate third parties for injuries or property damage they sustain in an accident involving your trailer for which you are responsible. It can also cover any associated court costs and legal fees, up to your coverage limit. While your auto insurance may provide some coverage, the extra liability coverage provided by a trailer insurance policy may be necessary.
- Collision coverage: This can compensate you for the costs associated with the repair or replacement of your trailer due to damage in a collision, regardless of fault. Those who own very expensive trailers, such as livestock trailers, can benefit the most by including this coverage.
- Comprehensive coverage: This can compensate you for the costs associated with the repair or replacement of your trailer if it sustains damage in a non-collision-related event. Covered hazards include such things as a flood, fire, falling objects, flying debris, vandalism and theft.
- Contents coverage: This can compensate you for the costs associated with the repair or replacement of the things you are transporting with your trailer if a covered event results in their damage, regardless of fault. If you are transporting livestock or horses, a specialized form of this coverage will be necessary to compensate you for animals injured or killed in an accident.
- Roadside assistance coverage: This can cover the costs associated with specialized towing or assistance if your trailer becomes inoperable while you are on the road.
Is Trailer Insurance Expensive?
When it comes to trailer insurance, your auto insurance policy may already provide you with sufficient coverage, although it may be necessary to add a trailer endorsement. You can usually do this for a nominal fee of $5 to $10 a month.
Trailers used for commercial purposes and more expensive trailers such as campers and livestock carriers will require you to purchase specialized trailer insurance if you want to have full coverage for them. The cost of specialized trailer insurance will vary based on several factors, such as the following:
- The type of trailer you need to insure (i.e., horse trailer, cargo trailer, travel trailer, etc.)
- Your trailer's weight and size, including length and width
- Your trailer’s make, model, year and purchase price
- Whether you are purchasing actual value coverage or replacement coverage
- The coverage options you wish to purchase as well as the coverage amounts you choose
- Where and how you plan to store your trailer when it is not in use
- Whether your trailer is for personal or commercial purposes or both
To find out how much a trailer insurance policy will cost you, you will need to obtain quotes from trailer insurance companies in California. It is a good idea to request quotes from at least three different insurance providers in order to be certain that you are getting your policy at a reasonable rate.
How To Learn More About Trailer Insurance in California
If you are considering trailer insurance for the first time, you probably have a lot of questions. Whether you are wondering about the coverage you already have, the coverage you still need to get or the policy options that may be right for you, an independent insurance agent in the Trusted Choice® network can provide you with answers. These agents can work with a number of highly rated insurance companies to obtain a variety of suitable, competitively priced policies for your review.
Trusted Choice agents have offices throughout the state, so it should be easy to find one near you. Contact a local agent to get more information and to start comparing trailer insurance quotes in California.