Hi,

Im new here... but i ran across some older posts about horse trailer insurance... IF you have a Farm Bureau in your state, check with them.  I have a 2003 alum 3 horse slant gooseneck that i have insured for $17,000.00   AND a 20ft gooseneck flatbed insured for $3500.00.. and I pay $80 a YEAR!!!!!  Just some FYI.

Thanks  have a super day:-)

Farm Bureau is the insurance company. I've used them here in Utah.

LQ will always cost more than non LQ trailers.  They are more expensive to repair and generally have a higher value.  So I wouldn't think $200 per year is out of line for LQ insurance.

Just a question.........What do your insurance companies really cover?  I had a heck of a run around with my insurance company because my trailer is used.  I owe $28,000 on it.  I have full coverage on it for $252 a year. However, if it got totaled, they said they wouldnt pay off the loan balance , only what the trailer was worth. They only would do the gap insurance if it was brand new. If an accident occurs I guess I better tell them " Oh it's not totaled",,,,FIX IT!

Geesh.

I did check with my local Farm Bureau and I have my trailer insured for $40,000. They did say that it was like a car and there would be depreciation but she didn't know how they would figure it.

 She couldn't break the cost of the insurance down easily. She said it was on our farm policy which is slightly over $1 million and she thought the trailer came out to about $275 a year.

 I don't know if this is helpful to anyone but I thought I would pass it on.

That's kinda what my insurance company told me too.  It's treated like a vehicle like you stated.  I wish I could find an insurance company that would insure the "loan" amount balance if the trailer is totaled..........but then,people in hell want ice water too......

windwalker, the people that are financing your LQ trailer should be able to offer a policy that will pay off your loan under several different scenarios.

By example; one spouse dies, loss of income due to illness, and the normal fire, theft, vandalism, acts of God and so on. The first thing people say is, "but I already have a policy, why do I need another policy?" We have home owners insurance on our home. We also have a policy with our mortgage company that pays off the mortgage if one of us is deceased. We also have a "$1M rider/umbrella" that takes over if one of our regular policies is exhausted.

One other scenario that can play into this is the "prime mover" clause with your insurance company. As long as the trailer is hooked to the truck, the truck policy has to kick in to pay for damages to the trailer. Up to a specific value. That's why I carry a small liability policy on my big GN trailers, in case they come unhooked, or roll down a hill while parked and not hooked to the truck.

Worst case scenario; I pull a big GN flatbed trailer with building materials on it. It comes unhooked and wipes out a school bus. That would exhaust my regular policy pretty quickly, but the $1M rider/umbrella would take over until all liability was satisfied or until it was exhausted. Whichever comes first.

By the way, all our personal stuff is insured with State Farm and I have a business insurance provider to take care of all our contracting business insurance needs. I keep them separate for a lot reasons.  The $1M rider/umbrella is over top of everything since it's a personal policy to my wife and me.

Happy trails.

I worked in insurance claims for three years and there is no easy way to handle a claim on a horse trailer.  It is especially hard to get a book value on these.  In most cases a book value does not exist.  Normally, I would contact the dealer to get a value on the trailer.  This would serve as the easiest way to get a value when you needed to depreciate and get the actual value.

So, that would be an insurance on the mortgage for the horse trailer rather than on the trailer itself. Like a pay-off insurance on your house mortagage.

My insurance person at Farm Bureau did tell me that the most difficult part was determining what the trailer is worth.