Illinois citizens enjoy active, outdoorsy lifestyles. Whether you want to transport a motorcycle, animals or heavy farm equipment, trailers are often the best transportation option. With the varying uses and sizes, trailers are a convenient, inexpensive way to move merchandise, livestock, outdoor toys, and many other items. When hauling your valuables by trailer, have you considered protecting your investment with Illinois trailer insurance? Contact a local independent insurance agent in our network in your neighborhood to insure your trailer when stored or on the move, whether you live in Chicago, Carbondale, Evanston or all points in between.
- Cars towing trailers are four times more likely to be in an accident than passenger vehicles
- In recent years, there were 345 deaths in the U.S. in accidents involving boat trailers
- Over the last 25 years, more than 500,000 people have been injured in accidents involving trailers (2,000 per year on average).
What Is Trailer Insurance and What Trailers Are Covered?
Trailer insurance provides financial protection from damage or loss to your trailer due to an accident, weather or other damaging events. If you carry trailer liability insurance, you may also be protected from financial loss should you be at fault for someone else’s injury, property damage or death due to an accident you caused. You can purchase trailer insurance that covers your risks both when your trailer is in use or parked.
Trailer insurance can be purchased for toy trailers, personal watercraft trailers, motorcycle or all-terrain vehicle trailers, horse trailers and those that haul farming or work equipment, to name a few. While trailer insurance may not be required by law, you may be required to carry it if you’re hauling for commercial purposes, or if you’ve financed the purchase of your trailer through a lending agency or bank.
Are Trailers Not Covered by My Auto Insurance?
While it is true that trailers can be covered by auto insurance on the towing vehicle, not all trailers are automatically covered. Some insurance companies require an extra premium to cover trailers while other companies will cover only the least expensive trailers. Also, the coverage provided often does not apply to the trailer when it is unhitched and either parked or stored. Illinois has the sixth-highest incidence of tornadoes among states, so tornado damage is an example of weather risk to a parked trailer.
Is Trailer Insurance Required in IL?
While there is no state law that requires trailer owners to purchase insurance, you should take into consideration the added risks trailers bring when hitched to a vehicle, especially if you spend a lot of time on the road. A trailer hitched to your car or truck increases your braking distance, decreases your visibility and maneuverability in some cases, and may risk coming unhitched and causing an accident. An agent in our network can help you get coverage for that worst-case scenario when you’re on the road with your trailer.
What Does a Trailer Insurance Policy Cover?
If you decide that you need more than the coverage your auto policy provides, you can find a trailer insurance policy that protects you in much the same way as auto insurance. The basic policy will likely include:
- Property damage liability: If you’re at fault in an accident and your trailer damages another vehicle or property, this coverage pays for the repairs, up to the policy limit. It will also pay for your legal defense.
- Bodily injury liability: If you’re at fault for bodily injury or death to a third party in an accident involving your trailer, this insurance coverage option will help pay for medical bills, funeral expenses, and other items, up to the limit you set on your policy. It will also pay for your legal defense.
- Collision: This pays for damage to your trailer that is sustained in an accident.
- Comprehensive: Pays for damage to the trailer suffered in “other than collision” accidents, such as due to a weather event or a falling object.
How Much Does Trailer Insurance Cost in Illinois?
The cost of Illinois trailer insurance can vary dramatically from one insurance company to another. You can expect to pay somewhere in a wide range from $0 (if the trailer is small and you are able to add it to your vehicle coverage) to a few hundred dollars annually for a larger trailer such as a horse trailer. Factors that go into determining your rate on an Illinois trailer insurance policy include:
- Value of the trailer
- Size and purpose of use
- How often it is used
- Whether it is stored
- Your driving record
- Where you live in the state
Be sure to talk with a local independent agent about how to find the best rates for you, and to find out whether discounts are available based on the type of use.
How to Compare Illinois Trailer Insurance Quotes
Contact a local independent agent in our network to shop for the best coverage. A neighborhood agent will sit down with you and provide the best Illinois trailer insurance quotes for your trailer. To get peace of mind whether you’re on the road or parked at home, contact your neighborhood agent today.