Owning a Trailer
Do you have the right trailer liability insurance? Owning a trailer can add great flexibility and mobility to your busy lifestyle or business. Whether you want to haul your watercraft and sports equipment to the cabin, or to tow construction equipment and tools for your business, a trailer can help make that happen.
The only issue with owning a trailer is that it involves risks. More than one person per day dies as the result of an accident involving a passenger vehicle towing a trailer. When you set out on the road, you may encounter unexpected mishaps that can cause problems for you and others. If you are involved in an accident, you need to make sure that your trailer is covered with trailer liability insurance.
Trailer Liability Insurance
If you are involved in an accident and you were at fault, having liability insurance will help to pay for the medical bills of the persons in the other vehicle. It will also cover damage to the other person’s personal property. If someone decides to take you to court to pay for their injuries, liability insurance will help recover some of your legal fees.
The minimum requirements for liability insurance will vary by state, but will include the total amount of bodily injury coverage per person, the total limit if two or more people are injured in the accident, and the amount of coverage for property damage.
Another type of liability insurance that you may want to consider is cargo liability. This type of insurance protects the products you carry on your trailer. It will help to cover the costs to repair or replace the objects if they are damaged. The policy may also pay for the removal of debris from the roadway or waterway caused by an accident involving your trailer.
Your trailer is covered by your auto insurance policy while it is attached to your vehicle and in the process of being towed from one point to another. If the trailer was not attached properly to the car or truck and accidentally becomes unhinged while in transit, then the general liability coverage of your auto policy will probably extend to your trailer.
This coverage is quite limited, however, as the collision and comprehensive aspects of the policy will not pay to replace your trailer if it is damaged in an accident.
Trailers can be used for both personal and commercial use. You may own one to haul your extra car to your lake home or campsite. Or, you may have a business that requires you to own a specialized trailer.
If your uses are purely personal, then you are not required to own any insurance, but it’s always a good idea to have some protection just in case.
For commercial uses, there are laws in place requiring some coverage and be registered with the state department of motor vehicles. The type and amount of coverage can vary from state to state, so contacting your local independent insurance agent will help you to get the information that you need.
Before purchasing a separate policy for your trailer, you’ll need to provide your independent insurance agent with the proper information. The costs to insure your car hauler trailer vary widely. There are several different factors that affect the overall cost, including:
- The year, make, and model of the trailer
- The length and width of the trailer.
- The original purchase price.
- Whether you plan to use the trailer for commercial or personal use
- Whether or not you plan to use the trailer in more than one state
Trailer Safety Tips
The National Highway Transportation Safety Administration (NHTSA) and AutoMD.com have called for safe travel while out on the road this summer. First, make sure you know the maximum weight limits for your trailer. You don’t want to load anything that’s too heavy and cause mechanical issues to your car, or have control issues while in traffic. Second, make sure the trailer frame has been built specifically for the type of equipment that you want to haul. After the trailer has been hitched and the items loaded, check the brakes and turn signals. Lastly, be sure the load has been distributed for optimum stability. The organization recommends that 60 percent of the weight be in the front half of the trailer. Do not leave your trailer unattended with only the parking break on.
Speak to an Agent
The best way to find out more about trailer insurance is to speak to your local, independent insurance agent. He or she has the knowledge and experience necessary to recommend the right coverage for you.
Other Enhanced Insurance articles related to Trailer Insurance:
Enhanced Insurance is not written by attorneys. If you’re looking for legal advice, you need to contact a lawyer. Further, insurance practices and forms change constantly and are varied from state to state. For definitive answers in your area, contact a local agent.
While the majority of people want an agent involved in their purchase of insurance, many people want to see if they can save money by buying direct from the insurance company. Others want to try a direct quote to make sure the premium they’re now paying through their local agent is fair. If you want a quote for your coverage, click on the competitive quote button on the right side of this page.