Horse trailers are great transportation items and just like a car, you should consider insuring your horse trailer. Theft is one of the biggest risks you face when you own a horse trailer, but so are accidental damage and loss from fire and other situations. Luckily, there are some very good horse trailer insurance policies out there that will give you the coverage you need against damage and theft or even loss. But to get the best, there are a few important things to keep in mind to enjoy good value with the policy you get.
Even if it is not a legal requirement to insure a horse trailer, you will definitely feel more secure when you have the policy in force. A careful review of the policy you are about to get will help you make the best decision.
What does it cover? – Most horse trailers are covered against theft, accidental damage and loss of the trailer. However, some will also cover legal liability in the event of accidental bodily injury and property damage. The more the policy covers, the better, so always check where you are covered.
Is the content of the trailer covered? – It is something that most people assume, although in reality it should not be so. Just because an insurance policy covers your horse trailer doesn’t necessarily mean it covers the contents of the trailer. However, most policies cover contents at a specified value, and in some cases it may be possible to increase the value to suit your needs at a cost of course. Find out whether or not your insurance covers the contents of the trailer and how comfortable you are with that.
When is the trailer covered? – This is an important question because different insurers offer different coverage for your trailer. On-site insurance covers the trailer while it’s at home, while travel insurance covers it on the road. It is very important to get a cover that offers the best type of coverage based on your personal preferences. Also think about towing, because some policies cover specific distances from your home.
What about the excess? – The excess can be defined as the contribution that must be paid for the costs of the claim and the policies have it well indicated. There are very good insurance companies that do not overcharge, but some will, so be sure to check and make sure you are comfortable with all the terms of the policy.
Are there security requirements? – Horse trailer theft protection sometimes comes with security requirements, such as installing anti-theft clamps on the wheels to help prevent instances of theft. Some companies do not value wheel, wheel bar and hitch locks or chains and locks, so it is very important to check with your insurer about such requirements when obtaining insurance coverage.
What details are needed before covering the policy? – The value and type of the trailer are obvious requirements, but some insurers may require legal accessories that meet the standards of the trailer, driving history, and use of the trailer, whether for personal or commercial use.
