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 Extreme Veteran
Posts: 302
Location: W. Pa. | What can you expect to pay for insurance for a new horse trailer in the $30,000 to $40,000 range? |
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 Elite Veteran
Posts: 600
Location: Oklahoma & Texas | It's pretty cheap because the liability part follows the truck not the trailer since that is the mechanism driving both so if you're already insuring the truck you're already paying most if it...i added mine to my auto insurance for a stated amt of the purchase price of the trailer ( 35k) and so they only added comp and collision to my policy on it and it is less than 100 bucks every 6 months. ..the big cost on our insurance is liability not comp and collision so most auto insurance companies just add it to your auto policy since you'll be pulling it with the truck on your policy that already is carrying your liability for it...i think i have a 100 dollar deductible on it... (I'm an insurance adjuster supervisor for a big insurance company ) some insurance carriers may refuse it as a "trailer " and want to insure it as an rv depending on the trailer living quarters but mine didn't do that. |
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Extreme Veteran
Posts: 464
| $6 per $1000 in value is a good estimate. Too cheap to skip. |
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Extreme Veteran
Posts: 302
Location: W. Pa. | Thank you!!
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 Expert
Posts: 1718
Location: Southeast Louisiana | Question about insurance... I understand if you are in an accident pulling the trailer, your auto insurance should cover it whether the accident is your fault or not. If it gets broken into, would most homeowner's policies cover that? Also, why would you need insurance if the truck's policy covers it? Maybe just for the additional cost of an expensive trailer? I guess my question is, do you really need the insurance if your trailer isn't very expensive? |
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Elite Veteran
Posts: 600
Location: Oklahoma & Texas | The insurance you put on a trailer covers theft, vandalism, hail, fire, falling objects hitting it or even your horse freaking out tied to it if it damages the trailer, and it covers the trailer itself if its in a bad accident either while being pulled or parked for body damage and dmg to the interior....your typical auto insurance covers the liability part only when its being pulled and only covers the damage you do to others not damage you do to your trailer unless you have collision coverage on it... unless you add the comp and collision part if your trailer was stolen or got hailed on real bad or burned to the ground youd want the comp or collision coverage for the trailer....you are right though for items not bolted down to the trailer a homeowner or renter policy will cover the belongings like saddles and tack and bedding etc...but depending on your saddles etc you may want to look into increasing your coverage of property not at the house typically its 10% of your personal belongings so if you carry 100k for personal belongings youll only get 10k for items away from your home in your trailer or wherever...10k doesnt go far if you've got a couple nice saddles and whatnot...its a lot to think about..also it is pretty cheap to add if it only costs about 10 more bucks a month on your iinsurance even if your trailer is only worth 5k itd be nice to get that check to help replace it rather than have to save up for another if something happened to it...
Edited by BBrewster 2015-01-24 9:58 PM
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 Ace Ventura Pet Detective
Posts: 2411
Location: Wisconsin | BBrewster - 2015-01-24 3:50 PM It's pretty cheap because the liability part follows the truck not the trailer since that is the mechanism driving both so if you're already insuring the truck you're already paying most if it...i added mine to my auto insurance for a stated amt of the purchase price of the trailer ( 35k) and so they only added comp and collision to my policy on it and it is less than 100 bucks every 6 months. ..the big cost on our insurance is liability not comp and collision so most auto insurance companies just add it to your auto policy since you'll be pulling it with the truck on your policy that already is carrying your liability for it...i think i have a 100 dollar deductible on it... (I'm an insurance adjuster supervisor for a big insurance company ) some insurance carriers may refuse it as a "trailer " and want to insure it as an rv depending on the trailer living quarters but mine didn't do that.
This is what i did...And my new 3 month old trailer was stolen from the Circuit Finals and because it wasnt hooked to truck, it wasnt covered...had to pay for a trailer that i never got back  Just be aware of that. our is 520 a year on a 45K balance on my trailer. |
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Ace Ventura Pet Detective
Posts: 2411
Location: Wisconsin | Mine is covered as RV, if it has a living quarters thats what they required. |
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Ace Ventura Pet Detective
Posts: 2411
Location: Wisconsin | Nita - 2015-01-24 9:36 PM Question about insurance... I understand if you are in an accident pulling the trailer, your auto insurance should cover it whether the accident is your fault or not. If it gets broken into, would most homeowner's policies cover that? Also, why would you need insurance if the truck's policy covers it? Maybe just for the additional cost of an expensive trailer? I guess my question is, do you really need the insurance if your trailer isn't very expensive?
Mine was stolen as i stated above, because it wasnt hooked to truck. And my homeowners insurance did pay for my equipment..Of course that didnt help me pay off my 3 month old trailer...and i was left at circuite finals with a horse and a halter  |
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Elite Veteran
Posts: 600
Location: Oklahoma & Texas | Yea thats why it needs the comp part added to it specifically because comprehensive covers the theft of the trailer itself for things like theft...mine made me do a stated amt which i just did the purchase price but peace of mind for sure...id hate to be making a payment on a trailer i didnt have anymore...homeowners is only gonna pay for loose belongings like tack |
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Elite Veteran
Posts: 600
Location: Oklahoma & Texas | Nettie i bet Wisconsin insurance law is a little bit different than ours here too and polices do vary by state and carrier...I'd make sure whoever is adding a trailer to a policy asks all the questions like your situation for example as well as what exactly is covered...i know for mine here in Tx with my carrier i am covered for any situation minus a few exclusions like war lol but definitely ask the questions and read your policy too...agents are great but sometimes the best to ask are the ones in customer service for the insurance carriers because 1.they are recorded calls that if they tell you wrong they can locate the call and force the coverage and 2 they usually know the policy best especially for claims situations. |
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