Posted 2010-05-06 12:43 PM (#119814 - in reply to #119811) Subject: RE: Insurance
Veteran
Posts: 144 Location: Hickory Hills, IL
Yes. When we financed our trailer the bank required full coverage on the trailer. Cost was really really cheap though- GEICO premium is about $150 every 6 months for full coverage @ replacement value of $30K. We paid off the trailer in a year but kept the insurance because if anything happened to it without coverage I couldn't afford to replace it!
Posted 2010-05-06 3:40 PM (#119820 - in reply to #119811) Subject: RE: Insurance
Veteran
Posts: 197 Location: MT
Probably depends because your pickup insurnace should cover your trailer too because the trailer is hooked to the pickup. I know thats how it works here I could be wrong in other states. But it is cheap and I would say get the insurance if you can afford it.
Posted 2010-05-06 3:57 PM (#119821 - in reply to #119811) Subject: RE: Insurance
Veteran
Posts: 184 Location: Indiana
"pickup insurnace should cover your trailer too because the trailer is hooked to the pickup."
This only applies to the "liability" portion of the insurance. You have to add the comprehensive/collision coverage for the actual trailer damage to be covered- say for fire, theft, collision etc
Posted 2010-05-06 4:04 PM (#119823 - in reply to #119811) Subject: RE: Insurance
Expert
Posts: 3802 Location: Rocky Mount N.C.
Welcome to HTW.
The bank wants "their trailer" insured. Once you get it paid for, you can do with it as you wish. I got extra insurance on all of ours. Theft, fire, hail, tree falling on it, barn falling down, Juan or Jesus running into it with a tractor, etc..... You don't ever know what may happen. Insurance is cheap.
Posted 2010-05-06 4:53 PM (#119825 - in reply to #119823) Subject: RE: Insurance
Expert
Posts: 1351 Location: Decatur, Texas
Originally written by retento on 2010-05-06 4:04 PM
Welcome to HTW.
The bank wants "their trailer" insured. Once you get it paid for, you can do with it as you wish. I got extra insurance on all of ours. Theft, fire, hail, tree falling on it, barn falling down, Juan or Jesus running into it with a tractor, etc..... You don't ever know what may happen. Insurance is cheap.
, you are so right!
It is so cheap I even insured my flatbed hay trailer too. Well I had to because my truck carries a commercial policy and the truck insurance only covers the truck and nothing else. Kinda stupid but still cheap.
Posted 2010-05-07 11:18 AM (#119847 - in reply to #119811) Subject: RE: Insurance
Member
Posts: 48 Location: Northern IL
I have insurance on my trailer and have it on with my truck insurnace, think they call it a towing package....I only have a bp 3 horse slant stocksides trailer, nothing fancy...It cost my $29.65 every 6 months...I usually keep all my tack in the trailer and that is covered under my renters insurance that I carry on the apartment I live in...I have this all on one policy that I pay every 6 months...
Posted 2010-05-08 8:06 AM (#119905 - in reply to #119811) Subject: RE: Insurance
Regular
Posts: 69 Location: TEXAS
we have ours insured even though it is paid off. Farm bureau it is about $200 a year $25k replacement $6k contents replacement comp/collision. The trucks liability covers it when hitched up and homeowners covers some but we have it to cover the rest. This insurance will cover things when it unhooked outside off our property like at shows
Posted 2010-05-08 9:55 PM (#119914 - in reply to #119811) Subject: RE: Insurance
Elite Veteran
Posts: 714 Location: Minnesota
Just remember, every individual policy will have it's own individual deductible. I have all my insurance (auto, farm,trailer) with with one company, and would have one deductible period. If insured with different companies you could have multiple deductibles. An example would be if some one stole your trailer with all your tack in it, clothing, food, tv, etc. in the LQ, then crashed the trailer. Result: Trailer insured with company A ($500 deductible), Tack insured with farm policy with company B ($500 deductible), clothes, tv, food with company C ($250 deductible). Total of $1,250 deductible. By the way the trailer crashed into someones brand new F350 Crew Cab($50,000). Total loss. No liability coverage because it wasn't hooked to YOUR covered truck. Now you are being sued because the thief has no money or insurance.
Posted 2010-07-06 2:54 PM (#121960 - in reply to #119840) Subject: RE: Insurance
Location: Del Mar, CA
I know this thread is old but thought I'd add for anyone searching for info... I called my State Farm agent to verify that my truck insurance would extend to any trailer being pulled - yes it does for liability only. I also found that insuring my Circle J 2H trailer (currently worth $2500) would be $11/year ($7 comprehensive no deduct; $4 collision $100 deduct). I've never had any damage at all but that's so cheap I just had to do it.
Posted 2010-07-06 3:04 PM (#121962 - in reply to #119821) Subject: RE: Insurance
Extreme Veteran
Posts: 447 Location: cedar rapids iowa
Originally written by ClaudiaIN on 2010-05-06 3:57 PM
"pickup insurnace should cover your trailer too because the trailer is hooked to the pickup."
This only applies to the "liability" portion of the insurance. You have to add the comprehensive/collision coverage for the actual trailer damage to be covered- say for fire, theft, collision etc
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Plus hail damage or a tree falling on it. I pay 150.00 a year for 28K value full coverage with a 500.00 deductable
Posted 2010-07-07 12:00 PM (#121998 - in reply to #119811) Subject: RE: Insurance
Expert
Posts: 3853 Location: Vermont
Finally...if you charge your friends to transport their horses, you better have a commercial insurance policy, because your personal policy will NOT cover you if there is a problem...
Posted 2010-07-07 5:50 PM (#122017 - in reply to #121960) Subject: RE: Insurance
Extreme Veteran
Posts: 479 Location: central sierra nevada foothills
Originally written by AppyRider on 2010-07-06 2:54 PM
I know this thread is old but thought I'd add for anyone searching for info... I called my State Farm agent to verify that my truck insurance would extend to any trailer being pulled - yes it does for liability only. I also found that insuring my Circle J 2H trailer (currently worth $2500) would be $11/year ($7 comprehensive no deduct; $4 collision $100 deduct). I've never had any damage at all but that's so cheap I just had to do it.
Hey Appy,
Is your 2h insured with State Farm then? We have them for our ranch policy, I need to look into some for my trailer then.
Posted 2010-07-08 1:48 AM (#122032 - in reply to #119811) Subject: RE: Insurance
Member
Posts: 14
Location: peyton, colorado
I would ask your agent what it would be, ours is on its own coverage, it has paid for its self. Had a trailer i hated and a hail storm damaged the roof. Insurance paid me enough to clear the loan and get a trailer i wanted. Bank will want proof that it is insured and mine wanted a deductable of 500 or less.
Posted 2010-07-08 12:19 PM (#122049 - in reply to #119811) Subject: RE: Insurance
Extreme Veteran
Posts: 479 Location: central sierra nevada foothills
We have AAA on house, auto, life, but they don't cover trailers for "acts of God" or other things. We do have Farmers for our ranch policy so may be checking with them on this. My trailer was paid in cash in full,no bank loans, I just want a peice of mind on comp/collision, acts of God, or other things. We will be putting our travel trailer under the same thing.
Posted 2010-07-13 3:26 PM (#122323 - in reply to #119811) Subject: RE: Insurance
Regular
Posts: 54 Location: nc
I just got a new policy on my new trailer the bank did require liability and comp. with a max of $500 deductable. I got my policy with Progressive it was $487 per yr. for $47k coverage. The policy covers towing too if I break down so that is nice. It does cover the RV part of the inside but not my personal effects I got a seperate policy for that for $9.00 per yr for $1000. in personal properity w/no ded. My home owners covers my saddles so I was not worried about them.
Insurance
, you are so right!
