Whether you use your trailer to carry cargo to and from your Maine business office or to haul horses to the next show, finding insurance coverage for your particular trailer doesn't have to be confusing. Before you search for quotes on your trailer insurance, however, it's a good idea to read up on the various policies and coverage options available to Maine residents.
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Are Trailers at Higher Risk for Accidents?
With major highways such as I-95 running through Maine, a trailer accident is not unusual in our state. According to the National Highway Transportation Safety Administration, one out of every nine traffic fatalities in 2008 resulted from a collision involving a large truck or tractor-trailer (gross weight greater than 10,000 pounds).
Many times, a trailer is involved in a crash when it becomes unhitched from a vehicle. At other times, debris or objects falling from a trailer cause thousands of dollars in damage due to injuries or collisions.
What Types of Trailers Are Covered?
Most Maine insurance companies offer policies that cover a wide variety of trailers. They include, but are not limited to, the following:
- boat trailers
- cargo trailers
- utility trailers
- horse trailers
- flatbed trailers
- auto hauler trailers
Does Maine Require You To Carry Trailer Insurance?
Even though Maine does require some trailers to be registered, the state does not mandate trailer insurance. In some cases you may find that your vehicle's liability insurance policy covers your trailer. If you cannot find trailer protection listed under your current policy, you should be able to cover it with extra coverage under your vehicle's existing insurance plan.
What Is Trailer Insurance?
Trailer liability insurance provides coverage for injuries and damages. It can also cover legal fees in the event that someone takes you to court after an accident involving your trailer. If you have a trailer for commercial use, commercial trailer liability coverage can protect your Maine-based business in the event of a lawsuit.
This coverage is often included in the automobile or truck insurance policy for the vehicle that is towing the trailer, but you may need to purchase coverage as an additional rider or endorsement. When you purchase a new trailer, it is a good idea to review your auto insurance coverage.
What Does Trailer Insurance Cover?
The typical trailer liability insurance policy purchased in Maine provides coverage for the following, up to your policy’s limits, if you are involved in a covered collision:
- Property damage: If your trailer strikes another vehicle or object and causes damage to another person’s property, this coverage will provide compensation to that person or business and protect your personal finances.
- Bodily injury: For example, if your trailer becomes unhitched from your vehicle and injures a pedestrian, your policy is designed to cover that person's medical bills and other services, such as rehabilitation.
- Legal costs: If someone sues you for injuries or damages resulting from a covered incident, your liability insurance will cover your court and legal defense fees.
What Does Trailer Insurance Cost?
Much like automobile insurance, most Maine companies consider the following when they give you a quote for a policy:
- How you use your trailer
- The size of your trailer
- What you will be towing
- Where and how often you use your trailer
- Your driving record
- The limits you choose
- Your deductible
- The insurance company you choose
For the most part, you can expect a basic trailer liability insurance policy to be very affordable when purchased as an endorsement to a personal car or truck insurance policy. On average, people spend about $75 a year for this extra coverage.
Finding the Best Trailer Insurance Is Easy
When you contact a knowledgeable Trusted Choice® independent insurance agent, finding affordable and comprehensive trailer insurance policy quotes is quick and easy.
These agents don't work for the big insurance companies. They have the ability to research many Maine insurance companies to find you the best policy at the least expensive price. Contact your agent to get started.