Trailer Insurance: A Guide
Insurance can be complicated, but it’s necessary for making sure that you’re covered in the event of an emergency. While some people think that they don’t need trailer insurance, the truth is that there are many situations where your regular vehicle insurance policy will not cover your trailer.
In this article, you’ll learn everything you need to know about trailer insurance: whether you need it, what it covers, and more. We hope this article helps you find the policy that’s best suited to protecting you and your investment.
Do You Need Trailer Insurance?
Many people assume that car or truck insurance automatically covers any trailers being towed, but there are several reasons why this may not be the case.
The first is that trailers do sometimes become unhitched. In this circumstance, your liability coverage probably won’t apply to the unhitched trailer. As well, it’s rare for car policies to cover damage done to your trailer, or damage done to anything inside your trailer.
While it’s worthwhile to take a look at your insurance policy to see what’s covered, there’s a good chance you’ll need to get a separate policy to properly insure your trailer.
What Does Trailer Insurance Cover?
What trailer insurance covers will vary widely based on the type of insurance you get. It’s always a good idea to have liability insurance, as this protects you in the event of an accident. A liability policy will pay for another driver’s bodily injury or property damage if it’s determined that you’re at fault for an accident.
Collision insurance will help pay for repairing or replacing your trailer after an accident, while comprehensive insurance is designed to cover you for any damages that occur when your trailer is not on the road. Comprehensive insurance is particularly useful in the event of theft, which trailers are at high-risk for. That said, it can also cover other events like fire, water damage, and so on.
If you’re using the trailer for commercial purposes, it will need to have a commercial insurance policy. It’s wise to check with your employer to learn more about this kind of policy.
As always when discussing insurance, one of the best things you can do is to speak with an insurance agent, who will be able to speak to your specific concerns and situation. You shouldn’t necessarily be focused just on the price of the policy, as you also want to make sure it’s providing you with all of the coverage that you need.
Looking for a Trailer in Arkansas?
Silver Moon Trailers is Arkansas’s trailer dealership of choice. For years, we’ve been helping people just like you find the trailer that’s best suited to their needs. We offer a broad suite of options.
Even better, if you can’t find the trailer you’re looking for, our custom trailer program allows you to get a trailer with the exact specifications that you’re looking for.