There are many different types of trailers for personal and commercial use. You may have a small, inexpensive utility trailer for towing an ATV, motorcycle or snowmobile, or you may have a large expensive trailer for hauling horses to horse shows. How can you find the right trailer insurance for you needs as well as deals and discounts to make your coverage more affordable?
It is a good idea to talk with a knowledgeable agent to find out what kind of insurance you need for your particular trailer, and how to qualify for trailer insurance deals and discounts. Contact a local agent in the Trusted Choice® network. With more than 27,000 member agency locations nationwide, there is an agent right in your neighborhood ready to help you get the coverage you need to protect your trailer.
Top Trailer Insurance Discounts
- Multi-line discount for home, auto, boat, or trailer, to name a few
- Multi-vehicle discounts for multiple cars and trailers
- Claims-free discounts for those who have never filed an insurance claim
- New business discounts for new customers
If you want coverage for damage or loss on your trailer, be sure to inquire about the right insurance for you, including coverage for both the trailer and its contents. It is important to consider the value of everything you may be hauling around, whether it is equipment, vehicles or show animals.
The good news is that your trailer coverage does not need to be expensive. For small trailers, coverage can often be added onto your existing auto policy in most cases. For larger trailers, you may need a separate policy, but getting coverage from the same insurance company you use for your other policies can often yield premium discounts.
Additional Discounts and Deals
Be sure to ask your agent about the following additional discounts:
- Low mileage rating: If you are not using your trailer on a regular basis, you may qualify for a low-mileage discount.
- Short commute discounts: If the distance you travel on a typical basis is only as far as the nearby lake, your risks are lower and you may get a better deal on your trailer insurance.
- Senior discounts: Most likely if you are in your golden years, you take fewer risks on the road. Your insurance company may reward you with a discount based on your age.
- Family discounts: If several people living under the same roof all have coverage, you may qualify for a discount for multiple policies.
- Long-time client discount: If you have been with the same insurance agency for a long time, be sure to ask whether you qualify for a better deal on your insurance due to your loyalty.
Finding the Right Coverage
It may be tempting to cut down on the coverage in your policy to get a better deal on your insurance premiums. And in some cases, this may be wise. Just make sure you don’t cut out important coverage, such as liability and property damage, that can help you pay for theft, storm damage and more importantly legal costs if you are responsible for an accident.
Depending on where you live, you may have to carry a minimum amount of liability insurance on your trailer. Ask your insurance agent about the requirements in your state.
Tips for Making Your Trailer Insurance More Affordable
- Make sure the correct make and model of the trailer is recorded by your insurer.
- Do not over-insure your trailer. If it is worth $5,000, insure it for $5,000. Any more is taking away your savings advantage.
- Always read the manufacturers manuals. Many are available on the manufacturers’ websites. The documentation will often provide safety tips on hooking up lights and information on weight restrictions. Following these precautions will help you stay claims-free and thus potentially earn you better rates on your insurance coverage.
Finally, it pays to shop around to find the best deal on your trailer insurance. An independent agent can do this research for you, as these agents are affiliated with multiple insurance companies.
A Trusted Choice member agent will do a multitude of comparisons to find the best deals on coverage based on your individual needs, and will provide you with an affordable, personalized plan. Contact a local agent in your area today.