Horse trailers make very good transportation items and just like an automobile, you should consider insuring your horse trailer. Theft is among the biggest risk you face when you have a horse trailer, but so are accidental damages and loss by fire and other situations. Luckily there are very good horse trailer insurance policies that will offer you the necessary cover against damages and theft or even loss. But to get the best, you must take a few important elements into considerations so you enjoy good value with the policy that you get.
Even if it’s not a legal requirement to insure a horse trailer, you definitely will feel safer when you have the policy in place. A careful check on the policy you are about to get will help you make the best decision.
What does it cover? – Most horse trailer cover against theft, accidental damage and loss of the trailer. However, some will also cover legal liability in case there is an accidental bodily injury and damage to property. The more the policy covers the better it is so always check to see where you are covered.
Are trailer contents covered? – It is something that most people assume even though it is really should not be. Just because an insurance policy covers your horse trailer does not necessarily mean that it covers the contents of the trailer. However, most policies do cover the contents to a specific value and in some cases it would be possible to increase the value to match your needs at a cost of course. Find out whether your insurance covers the trailer contents or not 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 at home, whereas a travelling insurance covers it on the road. It is very important to get a cover that offers the best kind of coverage depending on your personal preferences. Think about towing too, because some policies cover specific distances from your home.
What about excess? – The excess can be defined as the contribution you are required to pay toward claim costs and policy schedules have this well indicated. There are very good insurance companies that do not charge excess, but some will so be sure to check and ensure that you are comfortable with all policy terms.
Are there security requirements? – Horse trailer theft cover sometimes comes with security requirements such as the installation of anti-theft wheel clamps to help prevent theft cases. Some companies do not value wheel lock, wheel bar and hitch locks or chains and padlocks making it very important to check with your insurer about such requirements when getting the insurance cover.
What details are needed before the policy cover? – The trailer value and type are obvious requirements, but some insurers might ask for legal fittings that meet trailer regulations, driving record and the use of the trailer whether it is for personal use or business.