WEDNESDAY, JANUARY 28, 2015
So you finally bought that camper trailer you've been dreaming about for decades. Or, as the boating season approaches, you're going to buy a boat and boat trailer. Maybe you now have needs for a stock trailer. Whatever the reason, if you are a trailer owner, should you worry about trailer insurance? Interesting question!
Most auto policies (personal auto policies and commercial auto policies) offer automatic liability coverage to a trailer while attached to the insured vehicle. So no need to worry about insuring that trailer, right? Problem solved!
Not so fast! What if that pesky trailer were to suddenly become unattached? We're all human, and trailers have been known to be incorrectly attached to the vehicle. If you're rolling merrily along, and your trailer becomes unattached, jumps the curb, and plows into the nearest carport, unless the trailer itself has liability protection, there's no coverage!
And there's this aspect to consider: most trailers are expensive! If you paid $25 grand for a trailer, and it became seriously damaged in an auto accident--or if it caught on fire--wouldn't it pay to have physical damage coverage? (Comprehensive and collision.) If you borrowed the money for the trailer your lender is going to insist you buy this coverage!
Obviously, the best remedy is to buy full insurance coverage for your trailer. As a general rule, trailer insurance is fairly inexpensive, and it will definitely buy peace of mind!
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