Owning a trailer is a dubious endeavor. I recall my great uncle telling me a story about the time he lent his trailer to a friend: The friend called up my great-uncle loudly cursing that the cruise control did not work and now the trailer was upturned in the middle of the median of Interstate 5. It seems that the friend had activated the trailer’s cruise control — thinking the trailer would drive itself — and left the wheel to fix himself a drink and use the vehicle’s facilities. In due course, the trailer had wildly veered out of control, pitching into the center of the road. There’s a simple lesson to be gleaned here: Buy trailer insurance.
Important Terms
Trailer insurance contains mostly the same lingo and jargon as conventional auto insurance, but considering the amount of personal possessions and different situations pertaining to trailers, coverage specifics and terms take on new meanings.
Total loss replacement is the most comprehensive form of insurance on the market for trailers. Most total loss replacement coverage plans provide for the procurement of a brand-new trailer (of comparable components) within five model years; meaning that if crashed and totaled, your trailer is completely replaced by your insurance provider within a specified time limit. An unstated benefit of this coverage is that owners can potentially avoid the depreciation of their trailer.
Collision and liability insurance should be familiar terms, but since a trailer comes complete with awnings, patios, and other attachments, collision insurance specifics change. Coverage is available for both the protecting and the exclusion of the aforementioned attachments (obviously coverage of pull-out awnings and patios will be more expensive than plans without).
Amenities provided by your trailer insurance supplier should include a 24-hour roadside assistance and emergency expense package. The reason for this is simple: a trailer doubles as an automobile and home, so owners need to protect themselves in case of accident or breakdown in inhospitable climes. For instance, in case of accident, not only are you without transportation, but without living accommodations as well. Respectable insurance carriers will offer emergency expense and roadside assistance benefits.
Another unique aspect of insurance for trailers is that owners typically operate their vehicles during certain months, while other times the trailer lays dormant. However, it is extremely difficult to locate an insurance provider willing to insure said trailer during certain specified months. Most policies are annual, which can be a good thing considering theft, fire, and flood are not strictly summer occurrences. Protecting your trailer yearlong is ultimately a wise investment.
Fire, flood, and theft are contingencies typically covered under more comprehensive insurance plans. Since a plethora of personal possessions are stored and used in your trailer (and homeowner’s insurance rarely covers these items when placed in a vehicle), opting for more comprehensive coverage grants owners an affordable sense of security.
My advice is: Take it.
Using online resources (namely quote search engines) to select a trailer insurance provider fosters competition between rival companies, ultimately giving consumers better benefits at lower prices. Try www.rvainsurance.com for a good idea of going rates. Electronic quote-scout sites scour the internet for the most competitive, buyer specific plans — take care to use these resources. And next time you need to use the bathroom, ask your wife to grab the wheel.
By Jean-Pierre Lacrampe