Do I Need Trailer Insurance?
At TP Trailers, we’re experts in ALL things trailers and we often get asked questions about using and owning the equipment we sell. One of the most common questions we hear is, “Do I need trailer insurance?” While trailer insurance may not be required in Pennsylvania, we do recommend that you notify your agent that you have purchased a trailer and he or she can guide you through the process.
While we aren’t insurance agents, we have been in the trailer business a long time. When customers are wondering, “Do I need to insure my trailer?” we usually tell them to start by speaking with their insurance agent.
What to Know About Insuring Your Trailer
Most times your trailer may only be covered when it is hooked to a vehicle and it will have no coverage if it is not. A trailer is a serious investment, whether it’s for business or for personal use. Even if it’s not a legal requirement to drive on the roads, trailer insurance protects your equipment.
Commercial or Personal
The first thing you need to determine is if your trailer will be covered by commercial or personal tow vehicle insurance. If you purchased the trailer for your business, you may need commercial coverage. However, while it is more expensive, commercial trailer insurance can also have a provision that insures the cargo as well as the trailer.
The Role of Tow Vehicle Insurance
Generally speaking, an insurance plan that covers your tow vehicle may cover the trailer when it is attached in transport for liability only. However, that means that when your trailer is sitting on the lot or if it ever becomes detached, the tow vehicle insurance may no longer apply. Since the trailer isn’t covered by tow vehicle insurance, you may be fully responsible. In addition, if your trailer were to be damaged while in storage, without separate insurance you may be left to replace it on your own.
Liability or Full Coverage
Just like with car insurance, you can opt for liability insurance or full coverage. Liability-only trailer insurance protects you if your trailer causes injuries or damages — this most often occurs as part of a car accident. For example, with trailer specific-liability insurance, if your trailer detached from your vehicle during an accident, you would most likely be covered against damage it caused. On the other hand, full-coverage trailer insurance may cover damage to your own equipment, allowing you to replace your trailer if needed. Your insurance agent will be able to go into further detail.
Getting Insurance before You Buy
Most people prefer to secure their insurance before picking up their trailer from us. This is wise as it ensures there is not a gap in coverage when you’re bringing the trailer home. In order to do this, contact your existing insurance agent and add the trailer to your policy. You’ll need to provide them with the year, make, VIN, and GVWR — which your TP Trailers expert can give you. This allows your insurance agent to write the policy before you take ownership of the trailer.
The Benefits Outweigh the Expense
When people ask us, “Do I need trailer insurance?” we inform them that the benefits do outweigh the expense for all of these reasons and more. You want to protect your investment and you want to protect your own finances in the event of an accident. Protect yourself and protect your equipment — consider utility trailer insurance for your trailer so that you’re covered in case damage or injury occurs.
Read our official car trailer buying guide.
Shop Our Trailer Selection
At TP Trailers, we are one of the largest and most experienced vehicle trailer dealers in the area. Our inventory ranges from ATV trailers all the way to heavy equipment trailers — we rent and sell many models.
Not only do we provide a huge product inventory from the top trailer manufacturers, but we also help our customers find the perfect trailer for their needs and their budget. Whether you have a trailer model in mind, or you’re still in the beginning stages of deciding, our trailer experts can help.
Contact us to learn more about our inventory — and get pricing today!
