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Commercial Trailer Insurance: Cost & Quotes From $11

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Trailers can be expensive to maintain, so the last thing you want is to incur losses because of an accident that wasn't covered by insurance.

 

It's in your best interests to ensure you're fully protected with a comprehensive commercial trailer policy from a reputable insurer. If you don't have coverage, you may find yourself stuck footing the bill for repairs, which could put you out of business before you even get started.

 

When looking for insurance, know how much you’ll spend  for the best coverage. And this can vary widely depending on what type of trailer you own, where you live, and other factors.

 

We've prepared this comprehensive guide to help you figure out the best commercial trailer insurance available and give the considerations when shopping around for the right policy.

Are Trailers Covered Under Commercial Auto Insurance?

The commercial auto coverage of the vehicle pulling the trailer can provide protection. However, if you mean whether or not trailers on their own can get coverage through commercial auto insurance, then the answer is no. 


Commercial auto insurance is a policy for transportation having their own engine. Trailers have none. This is why they can’t be covered. 


But still, you can get covered through commercial trailer insurance. Proceed to the next section and know what this is. 

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What is Commercial Trailer Insurance?

The most basic form of commercial trailer insurance covers liability only. When you have trailer liability insurance, if someone were to sue you for damages caused by your trailer, they'd only receive compensation up to the amount of your policy limit.

Business trailer insurance is offered at relatively low prices, but it does not include personal injury protection.

If you're looking for more extensive coverage, you should consider purchasing additional types of coverage such as physical damage coverage, cargo insurance, and collision coverage.


Physical Damage Coverage

This type of coverage protects against damage to your trailer caused by named perils such as theft, fire, lightning, and vandalism.

Cargo Insurance

Cargo insurance helps protect your trailer against damage or loss due to accidents involving your trailer's contents. For example, if you transport goods worth thousands of dollars, you probably wouldn't want to pay for their replacement after being hit by a car.


Collision Coverage

This is a type of trailer insurance business use to provide coverage for a trailer involved in a vehicular accident. It will pay repairs and help resume business operations quickly with the least investment involved. Having this is very important as collisions can occur during loading/unloading, parking, or driving.

Note that aside from it being a specialized insurance product, a commercial trailer insurance can be a broad term for specific insurance options for different types of trailers such as:

  • Commercial horsebox insurance

  • Tractor trailer insurance or semi truck and trailer insurance

  • Commercial travel trailer insurance

  • Commercial utility trailer insurance

  • Truck and trailer insurance

  • Insurance for dump trailer

Another thing to note is that commercial trailer insurance already includes coverage for semi trailers. Therefore, this policy serves as a semi trailer insurance.

Tractor Trailer Insurance

If you own not only a trailer but also a tractor truck where it’s attached, then consider getting protection through commercial tractor trailer insurance. Policies included in tractor trailer truck insurance are discussed below.


Commercial Auto Insurance

Commercial auto insurance for tractor trailers consists of auto liability coverage, collision coverage, and comprehensive coverage.


Auto liability coverage will kick in if your tractor trailer caused an accident and you’re being held to pay for the injuries sustained by third parties.


Collision coverage will help you mitigate the cost of repairing the tractor truck and its trailer upon getting involved in an accident.


Comprehensive coverage works the same way as collision coverage. What makes it different is that it caters to repair costs not only in the event of a vehicular accident but also extreme weather, fire, theft, vandalism, and other named perils.


Bobtail Liability Insurance

Commercial auto insurance for tractor trailers doesn’t provide coverage if the tractor is running on the road with no trailer attached.


That’s why you should decide to get bobtail liability insurance, which is offered as a stand-alone policy or part of commercial insurance for tractor trailers. This policy helps you pay for victim compensation if the tractor causes an accident while on the way to get another load without any trailer attached.


Truckers General Liability Insurance

Auto liability insurance will only provide protection if you’re obligated to pay for the damages and bodily injuries resulting from a vehicular accident.


If the injuries or property damage happened because the trailer detached or the cargo unloaded on its own without warning while the tractor was moving, then commercial auto liability might not cover you.


Carriers offer general liability insurance that includes such an exclusion. This policy will take care of bodily injuries or property damage to third parties caused by your tractor trailer’s services.


Pollution/Environmental Damage Coverage

Pollution and environmental damage coverage is included in insurance tractor trailer and will take care of costs when your tractor trailer gets involved in an accident while transporting hazmat goods. This policy will help you pay for the cost of cleanup, containment, and rehabilitation of spilled harmful substances.


Quick Clarifications

Insurance for semi truck and trailer is another term for tractor trailer insurance. This is because in essence, tractor trailer is the industry jargon for a semi truck that has its trailer attached. A tractor trailer insurance company might use the terms semi truck and trailer insurance and tractor trailer insurance interchangeably but don’t get confused.


But here’s another thing to note too. Semi truck and trailer insurance can also be a specialized insurance product that offers commercial auto insurance, physical damage coverage, and truckers policy.


Commercial Truck Trailer Insurance

A specialized commercial truck trailer insurance includes commercial auto liability insurance, non trucking liability insurance , and pollution coverage. Some carriers also offer motor carrier policy and MCS-90 endorsement in their commercial truck and trailer insurance for semi truck and trailer owners.


Commercial Horsebox Insurance

Horsebox insurance is typically included in commercial horse transport insurance. It offers general liability coverage with products and completed operations, collision insurance, comprehensive coverage, and cargo insurance or inland marine insurance.


Commercial Travel Trailer Insurance

Are you running a travel trailer rental business? If so, decide to get your equipment covered through commercial travel trailer insurance. This consists of the following insurance policies:

  • Replacement cost for personal effects coverage - In case of an accident and the installments inside the utility trailer got damaged, replacement cost for personal effects coverage will help you replace or repair what was damaged.

  • Vacation liability - Accounts for bodily injuries and property damage caused by your utility trailer to the renters due to poor maintenance and other related reasons.

  • Emergency expense coverage - Pays for the cost of towing and other associated costs when the utility trailer is unoperational and needs to be hauled from where it is


Truck and Trailer Insurance

Truck and trailer insurance offers physical damage coverage, auto liability insurance, replacement cost coverage, and cargo insurance. But note that, you might find carriers that only offer physical damage coverage and auto liability insurance.


Insurance for Dump Trailer

Policies included in dump trailer insurance are auto liability, general liability, cargo insurance, pollution coverage, non trucking liability, personal injury coverage, loan or lease gap, and truck rental reimbursement.


Commercial Utility Trailer Insurance

Utility trailer insurance is specialized coverage for the different types of trailers commonly used for hot shot trucking such as flatbeds, car haulers, and enclosed trailers. Utility insurance offers roadside assistance coverage, and cargo insurance.


Roadside assistance coverage will help pay for costs if your utility trailer is unoperational and needs to be hauled by a towing company. Cargo insurance, on the other hand, will help you reimburse the total value of damaged goods on the utility trailer in the event of fire, theft, vandalism, or accident.



How Much Does Trailer Insurance Cost?

So how much is trailer insurance? The average cost of commercial trailer insurance is $300 a month or $3,600 a year provided that it only includes $1 million liability policies. Commercial trailer insurance cost varies based on many different factors, including the following:

  • The type of vehicle you drive

  • How old your trailer is

  • Where you live

  • Your age

  • Whether you have multiple trailers

As mentioned earlier, there are different types of coverage you can add to your policy. To get a further idea of trailer insurance cost, look at the table below showing the pricing of different insurance policies for trailers:


Cost per Month Cost per Year
Liability policies only $300 $3,600
Cargo loss $214 $2,568
Collision $150 $1,800
Physical damage coverage $121 $1,452

For further reference, here’s a table showing the commercial trailer insurance price of the most recommended companies:


Cost per Month Cost per Year Best for
CoverWallet $159 $1,908 Commercial trailer insurance quote comparison online
Elephant $172 $2,064 Commercial trailer insurance you can claim quickly
State Farm $213 $2,556 Numerous policies included in commercial trailer insurance
Progressive $223 $2,276 Commercial trailer insurance and truck tractor insurance

Tractor Trailer Insurance Cost

Tractor trailer insurance average cost is $8,350 per year or $695.83 a month.





Things to Keep in Mind When Shopping for Commercial Trailer Insurance

Here are a few tips to help you get the best policy for your commercial trailer:


Shop Around

When searching for commercial trailer insurance quotes, shop around. You don't want to pay too much for an insurance policy that won't provide adequate coverage. Take quotes from at least three different companies, so you can compare them side-by-side.

So that it's easier to look for insurance, use an online quote comparison tool. Start by using the one here. Click the " Get Quotes " button and fill up the form.


Look at All of the Options

You might think you'll just need one type of coverage, but that's rarely the case. Many people opt for different types of coverage, including both liability and property damage coverage. If you decide to purchase this extra coverage, make sure you get enough limits to cover everything you need to insure.


Compare Prices

Once you've found some potential insurers, compare their prices before signing anything. Make sure they offer competitive rates, as well as affordable premiums. It's also important to know what discounts are available to you. Some companies will give you a discount if you sign up for auto insurance, homeowners insurance, renters insurance, etc.


Don't Forget Discounts

Some companies offer discounts to customers who buy more than one kind of insurance product. For example, if you already have auto insurance, you could qualify for a discount when purchasing additional commercial cargo trailer insurance.



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Commercial Trailer Insurance Requirements

Trailers used for business purposes must have physical damage coverage and the minimum liability coverage mandated by each state. Additionally, it must be added to the coverage of the motor vehicle pulling it. Also, those renting or leasing trailers for business purposes must get a trailer interchange policy. 


What States Require Trailer Insurance?

Some of the states that require trailer insurance are Texas, Virginia, and Florida. Before getting trailer insurance, go to the nearest trucking authority and ask if you need insurance for using trailers commercially. 

Compare Cheap Commercial Trailer Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Commercial Trailer  Insurance Companies

There are plenty of commercial trailer insurance companies, so how do you find the right company for your needs? We've handpicked the top four carriers below based on their overall customer satisfaction rating. 


CoverWallet Commercial Trailer Insurance


Pros

  • Easy comparison tool

  • Free quotes

  • Offers cheap tractor trailer insurance

Cons

  • Not an actual carrier but an aggregator platform


CoverWallet is an excellent platform for searching and comparing truck trailer insurance quotes, tractor trailer insurance quotes and other types of commercial trailer insurance. Note that you can buy the policies of CoverWallet’s partners and have the liberty to manage them using the MyCoverWallet app or the CoverWallet website. 

 


Best for: Commercial trailer insurance quote comparison online

Average cost: $159

Our rating: 10/10

 


 

Elephant Insurance for Commercial Trailers


Pros

  • Quick claims processing

Cons

  • You'll need to work with an agent


Elephant Insurance is an excellent resource for finding cheap insurance for commercial trailers. They specialize in connecting owners with low-cost carriers that won't break the bank.


Best for: Commercial trailer insurance you can claim quickly

Average cost: $172

Our rating:   9/10



State Farm Commercial Trailer Insurance


Pros

  • Great customer service

  • Wide variety of policies

Cons

  • Higher deductibles compared to other major carriers


State Farm was founded back in 1922, and today they're one of the largest auto insurance providers in the country. They're also one of the few remaining independent auto insurance companies left, meaning they aren't owned by an umbrella organization like other large carriers.


Best for: Numerous policies included in commercial trailer insurance

Average cost: $213

Our rating: 8/10

 



Progressive Commercial Trailer Insurance


Pros

  • Excellent customer service

  • Available in all 50 states

  • Offers truck tractor insurance aside from commercial trailer insurance

Cons

  • Allowable fleet size is limited


Progressive Insurance has been providing insurance since 1919, making it one of the oldest and most trusted names in the industry. They're known for offering excellent customer service.


Best for: Commercial trailer insurance and truck tractor insurance

Average cost: $223

Our rating:   7/10  


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