Many residents of Hawaii own and use trailers for personal or commercial purposes. If you are one of them, a suitable trailer insurance policy can cover your investment while shielding you from financial losses. Whether you have a trailer that you use to transport your boat to and from the Pacific Ocean or one that you use to take lawn equipment to job sites, a suitable trailer insurance policy may come in handy. Although this insurance coverage is not mandatory, it may be worth your while to review a variety of trailer insurance quotes in Hawaii and give this coverage some serious consideration.
Number of Trailers Registered in Hawaii, as of 2000
- Total number of trailers registered in the U.S.: 21,541,490
- Total number of trailers registered in HI: 19,385, as follows:
- Commercial trailers: 3,340
- Light farm trailers, car trailers, etc.: 15,206
- Federal government owned trailers: 5
- State, county and municipal government owned trailers: 834
How Can Hawaii Residents Benefit from Trailer Insurance?
If you own a trailer, you have increased liability risks any time you drive with it in tow. If you misjudge a turn, you might damage property, or if you clip another vehicle while changing lanes, you might cause bodily injury to the occupants of the vehicle. And if your trailer should happen to detach from your vehicle while you are driving, you might find yourself facing all kinds of liability lawsuits.
You probably already have a measure of coverage through your auto insurance policy or carry trailer coverage as part of another type of insurance such as ATV insurance or boat insurance. Otherwise, if you want to safeguard your finances and your investment, you will need to purchase a trailer insurance policy.
What Kinds of Trailers Are Covered?
Trailer insurance policies are available for all types of trailers, including the following:
- Horse and livestock trailers
- Utility trailers
- Cargo trailers
- Travel trailers
- Boat trailers
- Auto hauler trailers
Whether you use your trailer for personal or commercial purposes, there is a policy for you.
What Coverage Does Trailer Insurance Provide?
Whether your trailer insurance is part of your auto, boat, business or other insurance policy or it is a standalone policy, it will normally include the following coverage options:
- Liability insurance: This can provide the coverage necessary to compensate third parties for injuries or property damage if you are liable for an accident involving your trailer. It can also cover associated court costs and legal fees.
- Collision insurance: This can cover the cost to repair or replace your trailer if it sustains damage in a collision, regardless of fault. Those with very expensive trailers can most benefit from this coverage.
- Comprehensive insurance: This can cover the cost of repairing or replacing your trailer after it sustains damage in a non-collision event such as a fire, flood, falling object, vandalism or theft. Those with very expensive trailers can most benefit from this coverage.
- Contents insurance: This can cover the cost of repairing or replacing the items you are transporting with your trailer if they sustain damage in a collision, regardless of fault. When you are carrying horses or livestock, a specialized form of this coverage can compensate you if an incident results in their injury or death while they are traveling in the trailer.
- Roadside assistance: This can cover the cost of necessary specialized towing or assistance if your trailer becomes inoperable while it is out on the road.
How Much Will a Trailer Insurance Policy Cost?
If you have a small utility trailer that you only use on occasion, your auto insurance policy may already provide you with sufficient coverage, although you might need to add a trailer endorsement for a nominal fee. Trailers used for commercial purposes and expensive trailers, such as campers and livestock carriers, will need specialized trailer insurance if you want them to be fully covered.
The cost of trailer insurance will vary depending on several factors, including the following:
- The type of trailer you need to insure
- Your trailer’s weight and size, including length and width
- Your trailer’s make, model, year and purchase price
- The coverage options you wish to purchase, as well as the coverage amounts
- Where and how you store your trailer when not in use
- Whether your trailer is used for personal or commercial purposes, or both
To discover how much a policy will cost you, you will need to obtain insurance quotes. It is a good idea to request at least three quotes from different providers so that you can be certain that you're getting a policy at a reasonable rate.
Get More Information About Trailer Insurance in Hawaii
If you are thinking about buying a trailer insurance policy, you may have questions about what coverage you already have and what coverage you still need to get. Fortunately, the independent insurance agents in the Trusted Choice® network can help you find your answers.
Trusted Choice agents are located throughout the state, so it should be easy to find one near you. Contact an agent in Hawaii to get more information and to start comparing trailer insurance policies and quotes.