Trailer Insurance
Trailer insurance is another type of commercial trucking insurance that helps to make a great quality policy.
Like we’ve mentioned in other parts of our website, lots of differentiated truck insurance policies exist in order to maximize the effectiveness of insurance for trucks with special applications.
While not every driver or company will need trailer insurance or policies in the following categories, truck insurance policies as a whole can be divided into 4 separate types: trucking insurance, trailer insurance, cargo insurance and commercial insurance policies for your employees or business operations.
There are plenty of commercial trucks out there that will not require trailer insurance, which is why it’s not included in basic liability policies. Tow truck insurance, for example, won’t ever need to account for trailer damage because none are ever in tow.
Even semi truck insurance won’t always need trailer insurance as a commodity. It is not totally uncommon for trucking companies to haul trailers owned by other companies who hold their own trailer insurance policies.
It is, however, always a good idea to be familiar with the forms of commercial truck insurance that commonly cover trailers. All motor carriers or independents that need to look out for damages to trailers they own and continuously use will want some type of trailer insurance coverage. Those hauling other people’s trailers may find trailer interchange insurance to be a valuable trucking insurance commodity as well.
Here’s a bit more about trailer insurance and what it covers.
Truck Trailer Insurance
Sometimes, basic truck trailer insurance can be a convoluted form of trucking insurance. It’s definitely not an uncommon occurrence throughout the commercial trucking world for trailers to change hands with every haul.
Truck trailer insurance isn’t one of the required forms of commercial truck insurance by law, but oftentimes it’s in the best financial interest of motor carriers to cover any trailers they own with blanket trailer insurance.
Oftentimes shippers that own trailers will not have truck insurance policies that protect their trailers when in the authority of other trucking companies. It’s in the best interest of any motor carriers to make sure that if they are hauling another company’s trailer, they have trucking insurance to cover their assets in the event of an accident.
Trailer Interchange Insurance
Trailer Interchange insurance is a type of commercial trucking insurance designed to protect trailers between two commercial trucking companies who operate with trailer interchange agreements.
A trailer interchange agreement is essentially an agreement between two trucking companies to finish a haul for one another. Oftentimes, this is so both companies benefit financially and cut down on truck driver hours. Any companies that have active trailer interchange agreements should look into this type of commercial trucking insurance.
Find out more about trailer interchange insurance, or contact an agent to grab a free commercial truck insurance quote!
