If you are in the market for a boat trailer, you probably have a lot of questions. Many people are unsure about the coverage they need, and whether their boat trailer can be covered with their car insurance, homeowners insurance, or boat insurance.
Getting information about boat trailer insurance doesn't have to be difficult. A local independent insurance agent can help.
What Is Boat Trailer Insurance?
Boat trailer insurance applies to trailers specially built to transport a boat safely to and from a home to a lake, river, or ocean.
A boat trailer will have some coverage under your homeowners policy while it's being stored at your home. And it will be protected by the liability coverage in your car insurance policy while you're pulling your boat. But if you want comprehensive coverage that will cover your trailer anywhere—for both damage to the trailer itself and any damage that it may cause—you'll want to look into adding boat trailer coverage to your boat insurance policy.
Is Boat Trailer Insurance Required?
No state requires you to have boat trailer insurance, but that doesn’t mean it isn’t a wise investment.
As with most types of insurance, whether you need to insure your boat trailer really depends on many factors, including the value of the trailer, how old it is, how often you use it, and whether you have the financial resources to replace it.
Evaluating those factors can help you determine whether boat trailer insurance makes sense for you.
What Does Boat Trailer Insurance Cover?
Boat trailer insurance generally covers theft and damage to the trailer, whether it’s stored at home or at a recreation area. It should also provide liability coverage in the event that your trailer causes damage to another vehicle, trailer, or boat or if it injures another person.
You'll likely have some coverage for your boat trailer within your car, home, or boat insurance policies. But boat trailer insurance coverage varies by state and by insurance company, so it’s important to check the fine print on all of your policies to make sure you have adequate protection.
Boat Trailer Coverage in Your Boat Insurance Policy
Boat insurance typically covers physical damage to your boat, whether it's in the water or on the road. But boat insurance typically won't provide coverage for damage that you cause to another vehicle or person while you're hauling your boat. That type of liability insurance may be provided by your car insurance policy.
Your boat insurance might cover physical damage to your trailer and other boat accessories, but this is generally coverage that must be purchased separately or in addition to your basic boat insurance. You'll have to get help from an independent insurance agent to see which boat insurance companies in your area offer this type of coverage.
Boat Trailer Coverage in Your Car Insurance Policy
If you cause an accident while you're towing your trailer and it injures someone or damages their property, your auto insurance policy may help pay for the other party's expenses.
You may be required to list the trailer on your auto insurance policy in order for it to be covered. If your trailer is not listed on your policy, you may have limited coverage or no coverage at all.
And you'll likely need to pay extra for comprehensive and collision coverage that both apply to physical damage to your boat trailer. If your trailer is damaged in an accident, collision coverage can help pay for repairs. If the trailer is stolen or damaged by something like hail or vandalism, comprehensive coverage may help pay for repairs.
Both types of physical damage coverage have an applicable deductible that will have to be paid before your coverage kicks in.
Boat Trailer Coverage in Your Homeowners Insurance Policy
A homeowners policy may provide limited physical damage coverage for your boat and boat trailer when they're stored at your home. This coverage usually has a relatively low limit (e.g., $1,000) and only applies if the trailer is damaged by a covered loss, such as fire, wind, hail, or theft. If you have concurrent boat insurance with trailer coverage, that would apply first.
The liability coverage in your home insurance won't extend to your boat or boat trailer. If you harm someone or damage someone's property while pulling your boat, you'll have to look to your auto insurance or boat insurance for coverage.
How Much Does Boat Trailer Insurance Cost?
The cost of insurance for your boat trailer will depend on the value of the trailer. It also will depend on whether you bundle the insurance with another type of insurance.
A small trailer used to haul a boat used in a calm lake will be the cheapest to insure. Larger trailers for oceangoing boats will be more expensive. If your trailer is brand new or has any special features, that will also drive up the cost.
It's usually very affordable to add boat trailer coverage to your boat insurance policy. You can work with an independent insurance agent to find the coverage that fits your budget.
How Can an Independent Insurance Agent Help You Find Boat Trailer Insurance?
You can meet face-to-face with a local independent insurance agent to get information about available coverage in your area and compare quotes on boat trailer insurance. Your agent can discuss your particular situation and help you determine if boat trailer insurance is right for you.
Independent insurance agents aren't tied to any one insurance company. They can obtain quotes from a number of insurance companies to find the right fit for you. Get started by contacting an independent insurance agent now.
