It is very important to check out if your truck insurance covers your trailer or not before you get into an ugly situation involving an accident with your trailer. You could have a boat trailer, a storage trailer or any other trailer.
Regardless of what sort of trailer you have its insurance is a must. Even if you do not possess a trailer you could still get into a situation such as your vehicle towing a trailer.
Most of the insurance companies provide coverage for a trailer as well if you own one. However, you must discuss it with your insurance company to make sure if it covers accidents involving trailers if you have it.
While signing the contract with an insurance company you must list the trailer on the declarations section of the policy. Whether or not your truck insurance covers the trailer depends on the state laws and the insurance company.
In some cases, liability coverage of your vehicle extends to include the trailer in it. While in some cases you need a separate policy for the trailer. You could also get an endorsement to your auto insurance to protect against damages involving trailer.
Usually, you need comprehensive or collision coverage for a trailer. This is perhaps the most optimum way to ensure that you are financially secure against damages involving trailers.
Different Insurance Needs For Different Trailers:
Trailers that tow other vehicles are most of the time covered under your auto insurance policy. On the other hand, travel trailers require insurance policy of their own.
You need to figure out what is the limit of extensions of your auto insurance coverage. Another very important thing to clarify is whether your insurance will cover the objects in your trailer.
If you are towing a trailer of your possessions you need to make sure that they are also covered by the insurance policy. There are chances that the items may get damaged during the transport. So it is always better to get the items in the trailer also covered.
If you have a trailer you need to get it covered for physical damage. Comprehensive coverage comes in handy when the trailer is parked. On the other hand, while towing, collision coverage is useful. Like any truck insurance policy, you need to set an amount of deductible aside.
This amount is used when you file a claim. You have to pay this amount yourself in order to process your claim. Trailer insurance typically protects against damages arising from the fire. In case of theft and vandalism insurance policy covers the damages.
If weather inflicted losses occur such as extreme flooding or severe hailstorm insurance policy comes in handy. Collision with some other vehicle is covered by collision coverage.
Along with this, specialty RV policies help you sufficiently protect in unusual situations involving a trailer. Trailer insurance policies usually include roadside assistance and accommodating after a loss.
Furnished trailers and those including expensive belongings are also covered by a trailer insurance policy.
Trailers That Auto Insurance Policies Do Not Cover:
Trailers that are used for renting purposes or are moving trailers typically are not covered by auto insurance companies. In such cases, the moving or rental companies distribute policy themselves in order to provide financial protection to the user.
You can compare insurance premiums offered by different insurance companies to choose the best offering. You can compare the prices online by giving your trailer details, its value and the kind of insurance coverage and limit you would like to have.
By giving such information you can get an estimate of insurance premium you would most likely be charged for your trailer.