Michigan offers many beautiful locations for boating, camping, horseback riding, dirt biking, and other activities that require the use of a trailer. In recent years, more than 10,000 RV trailers were purchased in The Great Lakes State alone, not to mention the many utility trailers and commercial trailers on the highways. But with ice, snow, rain, and crowded urban roads, towing a trailer can be dangerous. Whether you use your trailer for play or for work, you can protect your investment with a Michigan trailer insurance policy.
Your trailer may be partially covered under your auto insurance, boat insurance, or business insurance policy. Often, trailer owners do not realize that the trailer is not fully covered until an accident occurs and damage is done. A local independent insurance agent can help you find out exactly how much trailer coverage you may need. Contact an independent agent today to get Michigan trailer insurance quotes tailored to a specific trailer and how you use it.
Does My Trailer Need Coverage?
Trailer insurance is not required by MI law, but if you want to protect yourself and your property from the added risks of driving with a trailer, it is a good idea to look at your Michigan trailer insurance options. Some trailers are meant for personal or recreational use and may be covered under your auto insurance policy. Keep in mind that if the trailer is very valuable, your auto or truck insurance may only cover a portion of its worth. Commonly, personal and recreational trailers are:
If you own a boat, your boat policy may include boat trailer insurance. A local agent can look over your boat or auto insurance policy to find out whether your trailer is protected with collision coverage, comprehensive coverage, and liability coverage. Some of the many types of trailers used for business include:
If you use your trailer for work, you may have trailer insurance through your business policy. However, comprehensive trailer coverage and replacement costs may not be included in your coverage. A separate line of trailer insurance added to your policy is an inexpensive way to protect your business's finances from loss if an accident involves your trailer. A local, independent agent can help you find Michigan trailer insurance for your business trailer.
What Does Michigan Trailer Insurance Cover?
Liability coverage: Protects you from the financial losses that can stem from an accident in which another motorist suffers bodily injury or property damage. Trailers are prone to fish-tailing, detaching, and collisions while backing up. Liability coverage provides added protection to pay for your legal defense if your trailer is involved in an accident and you are sued.
Comprehensive coverage: Pays for damage due to storm, fire, vandalism or other non-collision damages to your trailer, even when it is not hooked up to your vehicle.
Replacement cost: If your trailer is covered through your auto, boat, or business insurance, it may only be covered for actual cash value, which is the initial cost of your trailer, minus depreciation. If you want to insure your trailer for the current full replacement value, you will need trailer insurance that covers total loss replacement.
Contents coverage: Do you carry valuable merchandise or equipment on your trailer? If so, you may need to include contents coverage in your trailer insurance policy. This will protect you from financial loss if the contents of your trailer are damaged, lost, or destroyed.
Roadside assistance: This coverage kicks in if your trailer experiences equipment failure or a flat tire, and requires immediate assistance from a local contractor.
An independent agent in your neighborhood can discuss your trailer coverage needs with you, and help you find the Michigan trailer insurance you want at a price you can afford.
What If I Live in My Camping Trailer?
Many retirees and outdoor adventurers live in their travel trailers full-time, or the majority of the year. These trailer owners may require special trailer insurance.
- Full-timer coverage provides extra liability insurance, similar to what a homeowners policy provides.
- Stationary travel trailer insurance covers the contents of the trailer, as well as comprehensive coverage and liability.
A member agent in your neighborhood can show you policies from a variety of companies, and help you choose one that best meets your needs.
How Much Does Trailer Insurance Cost?
Trailer insurance is usually inexpensive. Often trailer owners purchase coverage for less than $75 per year. However, if you own a large, expensive trailer, or tow valuable goods, your costs may be higher. A member agent can show you multiple quotes and coverage options to find the combination that is right for you. You will need to provide the following information to determine trailer insurance cost:
- Do you operate your trailer for personal or business use?
- What type of trailer do you own?
- What was the initial cost of the trailer?
- What is the make, model and age of the trailer?
- What will you haul in the trailer?
- What are the dimensions of the trailer?
- Who tows the trailer?
- Do you lend it out or rent it out for others to use?
A local agent can also combine Michigan trailer insurance coverage with other types of insurance, such as homeowners insurance, which can result in discounts.
Where Can I Find Michigan Trailer Insurance?
It is easy to find Michigan trailer insurance when you enlist the help of a friendly, independent agent in our network. Member agents work with many insurance carriers and can find the right combination of coverage for your trailer, auto, and boating needs.
Contact a local agent today to start comparing Michigan trailer insurance quotes tailored to your unique lifestyle and budget.