What Is Trailer Insurance?

If you believe your trailer is more than just a soulless piece of metal, then you might need to insure it – and yourself – against the unexpected. Trailer insurance can work with trailers of any type and size, including utility/motorcycle/boat/horse/all-terrain trailers, and more. Keep in mind, though, that your homeowners insurance or auto policy may also protect your trailer.

What Do You Need It For?

The exact type of coverage you need would depend on the trailer type and usage. The most popular types are:

  • Liability – damage that may be caused to third parties.
  • Collision – damage from road accidents.
  • Comprehensive – theft, storm, hail, etc.

Trailers used for business should be insured with commercial trailer insurance, which encompasses livestock/logging/gooseneck/side dump/concession/flatbed trailers and other types.

How Much Would It Cost You?

You would have to pay about $375 a year, though the premium might differ significantly depending on the type/size/value of your trailer and other factors. Keep in mind, though, that in some states this type of insurance is obligatory, whereas in other states it’s voluntary.