Why You Need Insurance for Your Cargo Trailer

You just purchased a new cargo, motorcycle, boat, car, rv, atv, or landscaping trailer and you are ready to hit the road with your gear.  This all sounds fine and well, but before you make the rubber hit the road make sure your investment is covered from unexpected loss.  Not only is accidental collison a concern but theft or loss of property should be on your mental radar.

Here are some important point to cover with your insurance company

  • If your trailer is covered through your vehicle insurance, it may only be covered for liability risks. This means that if your trailer is damaged or destroyed, you may not receive compensation for it.

  • Your trailer may be covered, but not the contents.

  • Your trailer and contents may be covered, but not for the replacement value.

  • Your cargo trailer may be covered if you are the one towing it, but not if you lend it to someone else.

  • Your trailer may be covered for liability, comprehensive and collision while it is attached to your vehicle, but may have only minimal coverage (for example, through your homeowners policy), when detached and parked.

Here are some of the things that the insurance can cover

  • Damage to the trailer itself, whether from a roadway collision, damage from severe weather, fire, or vandalism

  • Damage to the contents of the trailer

  • Theft of the trailer

  • Your liability risks, in the event that you cause property damage or personal injury with your trailer

  • Damage caused by an uninsured or underinsured motorist in a collision

The bottom line when it comes to covering your trailer assessts is to know your risks and your optioins.  If there's any question you have in regards to purchasing or financing a trailer please let us help you.