Trailer Insurance

There are times when the only way to move something is via a trailer that’s been hitched to a vehicle. Trailers aren’t motorized, but instead are towed on a truck, van or SUV. In these cases, the trailer can be damaged or prone to theft. Insurance may be a sound investment, protecting your personal assets if the trailer is damaged.

There are various types of trailers, including horse and livestock trailers, boat trailers, auto trailers and camping trailers. There are also commercial trailers, which are used to move goods or equipment for a business. While trailer insurance isn’t legally required, it’s a smart investment if the trailer or the items within it are especially important.

Comprehensive Coverage: This part of trailer insurance will reimburse you for loss associated with fire, smoke, severe weather, vandalism and theft. There are additional circumstances under which you may be reimbursed as well.

Contents Coverage: While insurance may cover the trailer itself, you may want additional coverage to protect whatever’s inside the trailer. Contents coverage will protect the items from damage, vandalism and theft.

Emergency Expenses and Roadside Assistance: If you break down on the road, get a flat tire, have battery problems or need a jumpstart, this type of coverage will protect you.

Liability: The liability portion of trailer insurance covers any damage that’s caused to other people, like property damage or bodily harm.

Total Loss Replacement: To understand this part of coverage, you have to know the difference between actual cash value (ACV) and replacement cost. ACV tends to be lower than replacement cost because it takes depreciation into account.

The type of trailer insurance you opt for will depend on specific circumstances. While some boat, auto and homeowners insurance includes trailer insurance, there may not be enough coverage to protect you in the event of an accident.

For more information regarding automotive Insurance in Virginia, Maryland, West Virginia, and District of Colombia, call 703-803-8191 to speak to an insurance agent from Credo 1 Solutions today