We all know how important it is to keep our vehicles insured—in fact, except for New Hampshire, having auto liability coverage is required by state law. However, that car insurance coverage doesn't always extend to trailers being towed behind your vehicle, so trailer insurance can be used to fill this gap.
Having this form of insurance is more useful than people may realize. According to a report by the National Highway Traffic Safety Administration, rear-end collisions are the single most common type of crash and account for roughly 29% of all incidents. This means that trailers are exposed to a high degree of risk, especially when drivers can't effectively see vehicles in the lane behind them.
As a driver, you want to keep your vehicles and passengers safe. There's only so much you can do to prevent a collision, but with the right coverage plan, you can ensure that you're not going to find yourself paying out of pocket if a problem occurs.
Trailers Covered By Insurance
Most trailers can be insured, regardless of whether they're being used for private or commercial purposes. Exceptions to this are rare, and are generally limited to trailers that are considered too high-risk to insure. If you're unsure whether your trailer qualifies for coverage, call T.A. Swain Insurance Group LLC and ask for more information.
Trailer types that are usually covered include:
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Horse trailers
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Camping trailers
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Car trailers
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Boat trailers
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Cargo trailers
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Bicycle trailers
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Semi-trailers
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...and many others
What's Covered
Most plans for trailer insurance include, but do not require, all of the following:
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Liability Coverage: This form of insurance covers costs associated with property damage or bodily injury done to other people. Your existing vehicle liability coverage may or may not extend to your trailer—if not, this will need to be purchased separately or added to the main coverage.
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Collision Coverage: If your trailer is damaged during a collision, this policy can help pay for repairs (regardless of whether or not you're at fault).
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Comprehensive Coverage: This part of trailer insurance deals with damage to the trailer. Damage can come from many different sources. Fire, severe weather, vandalism, and water damage are among the most common uses for this coverage.
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Contents Coverage: If your trailer is being used to carry and store personal items (clothes, furniture, etc.), this policy can help replace them in the event they're stolen, damaged, or destroyed. For especially large shipments, you might consider cargo and freight insurance.
Please be aware that trailer insurance is not the same as commercial trailer insurance, which is designed for vehicles being used for business purposes (including the transport of products) and covers different liabilities.
If you have a trailer that needs insurance, call T.A. Swain Insurance Group LLC today to find out the specifics of the coverage and begin protecting your investment.
1. "Compulsory Auto/Uninsured Motorists." III. April 2016. Accessed April 18, 2016. http://www.iii.org/issue-update/compulsory-auto-uninsured-motorists.
2. "Analyses of Rear-End Crashes and Near-Crashes in the 100-Car Naturalistic Driving Study to Support Rear-Signaling Countermeasure Development." Naturalistic Driving Studies | National Highway Traffic Safety Administration (NHTSA). 2007. Accessed April 18, 2016. http://www.nhtsa.gov/DOT/NHTSA/NRD/Multimedia/PDFs/Crash Avoidance/2007/Analyses of Rear-End Crashes and Near-Crashes (DOT HS 810 846).pdf.
3. "Commercial Trailer Insurance | DMV.org." DMV.org. Accessed April 18, 2016. http://www.dmv.org/insurance/types-of-commercial-trailers-to-insure.php.