Trailer Insurance Protects Investments

Often the only way to move something from place to place is with a trailer hitched to a vehicle. The trailer is not motorized, but is portable when you tow it with a van, truck or SUV. How do you protect a trailer from damage and theft, and for any liabilty risk you might face?  Trailer insurance can be a wise investment that will keep your finances protected if an accident damages your trailer.

Not all insurance companies offer trailer insurance, and those that do offer it vary in premium cost and specific coverage types offered. An independent agent in the Trusted Choice®  network can compare insurance policies from multiple companies and find the right policy at the right price for you. Contact an agent in our network to get a trailer insurance quote today.

Types of Commercial and Personal Trailers

  • Horse trailer
  • Livestock trailer
  • PWC trailer
  • Boat trailer
  • Auto trailer
  • Camping trailer
  • Commercial trailer (used to transport equipment or goods used in a business)

Trailer insurance is not required by law, but is a good investment if the trailer and its contents are critical to your business or important to you personally.

What Does Trailer Insurance Cover?

The right policy depends on your particular circumstances. Your independent agent will ask about your situation and explain the various coverage options, which may include:

Liability: This portion of the policy covers damages caused to others for which you are legally liable, including bodily injury or property damage. Trailers are sometimes covered under the boat, auto, or homeowners liability policy, but coverage may not be adequate to protect you after an accident.

Comprehensive Coverage: This portion of the policy reimburses you for loss associated with several kinds of events, including, but not limited to, the following:

  • Fire, smoke
  • Severe weather such as hail, wind or lightning
  • Theft and vandalism

Be sure to ask whether accessories attached to the trailer are covered. These might include items such as awnings, TV antennas, satellite dishes and air conditioning units.

Total Loss Replacement: Different insurance policies may cover the same items, but not for the same amount. “Actual cash value” (ACV) is typically lower cost coverage than “replacement cost” because ACV accounts for depreciation. Some companies offer total loss replacement which will provide full replacement cost if a new trailer is destroyed within the first five years. After five years, the insurance company pays the original price. Because trailers can depreciate quickly and be expensive to replace, this may be a smart investment for you.

Contents Coverage: All trailer policies cover the trailer but you and your agent should discuss whether you want the trailer’s contents to be covered. The contents coverage may be at an extra cost, but it may be well worth it if you tow valuable items such as show animals or an expensive boat. Contents coverage is designed to protect the cargo you're hauling from theft, vandalism, and damage.

Emergency Expenses and Roadside Assistance: Some trailer owners want the insurance policy to cover breakdown expenses such as flat tire, battery issues, fuel delivery and jump starts. Your trailer may get stuck in snow, mud, water or sand or may need to be towed to a repair shop. You may need a locksmith.

These are some of the more common and optional trailer insurance policy provisions. If you are living in the trailer full-time or for an extended period of time on a seasonal basis, it may be a good idea to look into additional coverage as well:

  • Full-timer coverage covers liability similar to that provided under a homeowners policy
  • Stationary Travel Trailer Coverage covers comprehensive, contents and liability.

How to Insure a Trailer

Now that you know you want trailer insurance, you need to find a policy that fits your needs and budget. Independent agents in the Trusted Choice network work with several insurance companies, so they know what the marketplace has to offer in terms of policy provisions and price. The first step to finding the right trailer insurance for you is to contact an agent and get a quote.

To get the most accurate trailer insurance policy quote, you will need to provide your agent with specific information about the trailer you want to insure. The more information you can provide, the more accurate the quote will be. You will most likely need to supply answers to the following questions:

  • Will the trailer be used for personal or commercial use?
  • What is the type of trailer?
  • Is the trailer custom made?
  • What is the make and model, age of trailer?
  • How much did the trailer cost?
  • What will the trailer contain?
  • What is the size of the trailer?
  • Who will drive the vehicle towing the trailer (driving record, age, gender)?

To get trailer insurance quotes based on your unique needs, work with a local, independent agent. The cost of insurance is nothing compared to the cost of an accident. Get a free quote today and get peace of mind.