Once you hit the road, you need to pay special attention to all the many kinds you pass on the highway to see the wide variety of sizes and types of trailers that are available. Everything needs to be portable because our society is so mobile. It could be a load of mulch for your flower beds, construction supplies for the most recent home improvement project, a utility trailer for your job, a commercial trailer for your farm or business, a travel trailer for a vacation, or one to transport your motorized toys to the mountains. It could also be a trailer to transport your lawnmower to the repair shop.
You must be aware of your liabilities risks and what needs to be taken into account for the right truck and commercial trailer insurance cover, regardless of your requirement for or use of a trailer.
Commercial trailer insurance Can Vary Depending on a Few Different Things
Because coverage is applied differently based on whether the towing vehicle is covered under a Personal Auto Policy or a Business Auto Policy, trailer insurance can be a bit complicated. Additionally, the style of the trailer can alter what you might need to think about. Therefore, the specifics of the coverage you need for a trailer will depend on a number of different elements.
With your Own Vehicle, Trailers Are Pulled
Let’s start by taking a look at trailers that your personal automobile or pickup truck is capable of towing. These may be the little flatbed trailers you need to transport your four-wheelers. You might utilize a cargo trailer to haul your motocross or dirt bike.
If you work as a tradesman, you might additionally have a trailer for your tools.
These trailers are handled equally in terms of liability and property damage if they are insured under a Personal Auto Policy as long as they are titled to you personally.
The Trailer Is Automatically Included in the Liability Limit
First, the responsibility limit that applies to the towing vehicle automatically extends to the rear of the trailer being towed. To be covered by liability insurance, the trailer does not need to be scheduled or included on your own auto policy. However, if you want to ensure that your liability limits are adequate when you customize your auto insurance policy, you need to take this into account.
Physical Damage to a Trailer Never Happens By Accident
Physical Damage Coverage on the trailer, however, is never a given. The trailer must be specified on the policy in order for damage to it to be covered. The company will need the unit’s Year, Make, Model, VIN, “Cost New,” or “Stated Value,” as well as other information.
Travel trailers are subject to separate insurance coverage.
Travel trailers might be protected on a different Recreational Vehicle or Travel Trailer Policy when it comes to RV and travel trailer insurance. Compared to a conventional Personal Auto policy, this kind of coverage will offer you more complete protection.
How would I feel if my neighbor stole my trailer and wrecked it?
Your insurance will cover the repair costs for the physical damage to your trailer if your neighbor borrows it and destroys it. Even if your neighbor is prepared to cover your deductible, your insurance will still be liable for the claim.
How would it be if I borrowed my neighbor’s trailer and damaged it?
Your insurance policy will offer liability protection if you borrow a neighbor’s trailer and use it to cause property or physical harm to others.
What occurs if I rent or lend a business trailer?
The insurance is fairly comparable to a personal trailer when you rent or lend a business trailer. The towing vehicle immediately extends its liability insurance to the trailer. Therefore, if you borrow a trailer, your business auto policy’s liability coverage covers it.
Your neighbor’s insurance will cover any liability claims brought against them if you lend them your trailer. The owner’s insurance, where the trailer is listed, will ultimately provide physical damage coverage for the trailer. However, you can add coverage to a commercial motor policy that protects against physical loss to a “hired or non-owned” trailer for an additional price.
Finally, check sure your trailer is hooked firmly. Additionally, double check to see what insurance is pursuing you! Asking what insurance protection you have after that trailer came unhooked and careened down the road makes no sense, just like it makes no sense to “shut the barn door after the cows are out”!
Please get in touch with our specialists at Kelly Lee Insurance if you’d like to talk about the specifics of your case. Happy hauling in the interim, and enjoy a wonderful, risk-free trip with your travel trailer!