I'm considering adding insurance coverage for my 22 ft enclosed trailer and haven't looked into it much detail yet (specifically by calling my agent and asking about it).
My understanding is that if it is a non-commercial trailer (mine is), you don't need liability insurance on the trailer because it is covered by the insurance of the vehicle that is towing it. Insurance wasn't needed to get a plate or register the trailer in NC.
This wouldn't cover it if it was stolen or (more likely) I manage to run it into something and damage the trailer itself.
Thinking of adding some coverage during the first couple of years while I'm still new to towing and more likely to screw something up (and while the trailer is new/more valuable to lose).
How have you covered your trailer? Any claim experiences or horror stories?
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You can add it to your police for a couple hundred dollars a year. IIRC it actually can go under your homeowner's policy (at least here) so a potential claim won't go on your auto claims insurance. For the more expensive camper / travel trailers it's worth it.
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Yes, I insure our camper, and always have (well... except for the first one, which was a used pop-up). If you're in a wreck and it's your fault, the camper isn't covered by the auto policy alone. Camper insurance is very cheap.
My understanding is that if it is a non-commercial trailer (mine is), you don't need liability insurance on the trailer because it is covered by the insurance of the vehicle that is towing it. Insurance wasn't needed to get a plate or register the trailer in NC.
This wouldn't cover it if it was stolen or (more likely) I manage to run it into something and damage the trailer itself.
Make sure you check with your insurance. I just checked with mine and my auto policy does not cover trailers, you have to have a separate policy.
So, while your state may not require, your insurance might if you want them to fix anything that happens.
Good Luck!
James
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I tow a 14' open utility trailer for my landscaping company. It is insured under a separate policy through State Farm (the insurer for my truck) for an additional $12/year. The trailer is owned by and registered to my company as a piece of business equipment and not as a personal trailer.
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Trailer coverage will vary by state and by insurance company. Some will extend liability coverage while its attached to your truck. Best thing to ask yerself is, if something happens to it, can I afford to pay for any damage or loss out of my pocket. If not, I'd look into insurance coverage....
Yeah, trailers are pretty cheap to insure so i have it on our 5er. Our gooseneck horsetrailer does not have insurance on it, but it's owned by myself, my dad, and my brother. So at $16k purchase price, that's only $5333 each.
My dad's always told me if you can't afford the $ loss if it got totaled, then you'd better have insurance. We've decided that anything worth more than $10k will have full coverage, period.
I don't insure our 16' tandom trailer, nor our small utility trailer, and i dont' insure our ATV's. Our boat gets full coverage with extra medical, but this is a no brainer.
What you really should ask yourself is: ' if this trailer went off a cliff tomorrow, would it really hurt my pocketbook?' Your financial situation should dictate your decision, IMO.
I also have the opinion that MOST things are not worth insuring, and insurance for the most part is gambling. JMO though.
I was told that, without the insurance, the liability of the trailer and contents gets murky, with respect to home insurance. If you are towing, then damage to the trailer might be covered in an accident, but the contents might be on your home policy. But, if a tree falls on your trailer at home or at a campground, that would be a home policy claim. If a flash flood in a campground takes out your trailer, you might not be covered at all (if you don't have flood insurance on your home). If the trailer is included on your auto policy, then all of the above would be an auto policy claim.
When home insurance gets involved, the home insurance companies get twitchy and have a habit of canceling your homeowner's policy (after the claim is settled). Also, home coverage details have different deductibles and limitations than auto insurance policies - so you often end up with less of the loss covered than you thought you would have.
We added the trailer to our auto policy. No claims so far.
I would for sure! My ex-brother in law just lost a $10,000 trailer and his RC planes when some drunk pulled out in front of him on the night of 4th of July. It was midnight, and in the middle of no where on top of that. Luckily none of his family was badly injured. Everything was totaled to include the trailer, RC planes and his bada$$ lifted & modded Ford truck. GIECO had said that the trailer would be insured since the truck was pulling it. He found out different once it was time to make good on what they said. Only the truck was covered, and luckily he had GAP insurance, as he still owed quite a bit on the truck.
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Do you insure your trailer?
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