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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.
This article comprehensive explores the best commercial trailer insurance available and gives the considerations when shopping around for the right policy.
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.
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:
This type of coverage protects against damage to your trailer caused by named perils such as theft, fire, lightning, and vandalism.
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.
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 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.
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 attach.
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.
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.
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.
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:
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.
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.
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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 trailer 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.
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:
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 |
Here are a few tips to help you minimize commercial tractor trailer insurance cost:
Shop Around; You don’t want to pay too much for an insurance policy that won’t provide adequate coverage.
Look at All of the Options; If you decide to purchase this extra coverage, make sure you get enough limits to cover everything you need to insure.
Compare Prices; Some companies will give you a discount if you sign up for auto insurance, homeowners insurance, renters insurance.
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.
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.
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.
Average cost: $159 per month
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.
Average cost: $213 per month
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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.
Average cost: $223 per month
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
9.4 / 10
Fastest ever online insurance quote and purchase! Also, great rates and professional customer reps that helps with whatever you need, if you need. Nice company!
2.8 / 10
Embroker sells a product that it doesn't honor. We purchased a combination D&O and EPLI policy. However, when it came to renewal, it told us that we only had D&O coverage even through our ACCORD certificate clearly mentions we have both. Basically they refused to honor the EPLI coverage and will leave you hanging with the bag. At time of renewal, they more than doubled our quote to get similar coverage. Basically BAIT & SWITCH. Unacceptable tactics. Easy to buy and pay but you may not be... Read More
2.8 / 10
Great platform. Terrible policy. There is no teeth behind it. No coverage. It's a fake policy that they sell. Sold us an EPLI policy that later we came to find out had no EPLI coverage. Amazing that they can get away with outright fraud. Check the positive reviews. They are all 'Anonymous' posted by Emroker staff. Stay away and find a real policy that will actually provide you coverage. We've been bitten by them and hope to find restitution via a lawsuit.
Paul Burns Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
It has been 70 days since I made a claim on the roof of my building. No one from the company will return calls. We are in hurricane season and located in Louisiana. My building is tarped to secure it.
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
They are the worst, my truck was hit in January 23 and the claim adjuster has not been out to this very day! They have every excuse in the book as to why. They have not been to the collision shop. PLEASE AVOID THESE SCAM ARTIST!
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Avoid these SCAM ARTISTS! They don’t pay claims!!! Save yourself the trouble and money!
Kasey Arey Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
This company gives you a price that was in place for a year and when you have to use it there is fine print were they can go back and charge you more. Would not recommend them to any one. Crooks
John Murphy Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Worst insurance comapny I have ever dealt with. A commercial vehicle represented by GUARD t boned my wife and daughters family vehicle in the middle of the day. Driver was cited and insurance claim insued. Fast forward 4 months and refusal of full amount of claim is still happening. Driver was found guilty, repairs started on my vehicle and when it comes to the final bill and diminished value we cannot get any help. I am out a family car, have an injured and traumatized wife and children,... Read More
Harshadray Patel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Extremely bad service, when you call , will make you wait on the phone for ever (over an Hour) and still no one to answer , so you end up hanging up. To cancel the policy, bounce you from one department to the other. They are supposed to refund from the date other insurance started and after sending the proof of other insurance policy, still they did not refund based on that actual date instead they use the date i managed to get hold of them. They charged me $7000.00 for a year's insurance on... Read More
Aaron Wensel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Guard Insurance is terrible. They were so bad I cancelled them because them couldn't figure out why I would never get a paper copy of the bill . Verified my address with them and still intermittent billing. I cancelled them in March through my local broker. Today 6/27 I get a letter in the mail from a collections company saying I owe 87.97. This was the first myself or my broker heard of owing this money. Here is some advice for this failure of a company send me a god damn bill and I will pay.... Read More
Michael Swink Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
My employer had to have workers compensation by law. He obtained a policy through this Berkshire Hathaway GUARD and they failed me. I fell from a ladder and fractured my spine in 7 different places, my clavicle in 4 places, and the base of my skull. Going to my Dr visits I was prescribed medication for pain and the insurance company placed a pre-authorization hold on me picking up the medication from Walgreens. The hold lasted 5 days! My weekly benefits have never been on time, right now... Read More
10 / 10
Liberty Mutual is one of the more simple companies to deal with. I had to file a claim for my business owner policy after I caught one of my employees stealing a large amount of products from my business. Liberty mutual paid the claim fast and with no efforts. I wish the legal process was as easy…
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
9.4 / 10
Very pleased with Hiscox - their small business insurance rates are very good and they specialize in small business which gives me a peace of mind as a small business owner. So far so good!
10 / 10
Their customer service is absolutely fantastic. Very patient, knowledgable and provided excellent explanation of the purchased policy. I would highly recommend this insurance company to anyone that's looking to protect their business from unexpected expense. Thank you Hiscox for doing a great job for my business!
0.6 / 10
STAY AWAY! I wouldn't recommend hiscox small business liability insurance to anyone. Better not waste both your money and your time. Hiscox customer service is extremely unpleasant, not organized and not professional. It is the worst company we have dealt with in almost 25 years in business!
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Extremely fast and simple. Wasted a lot of time and money until I found these guys! I feel like my business is in good hands now.
10 / 10
Hiscox's the best! My business is insured with them for over 12 years and am not planning to switch!
10 / 10
Excellent experience with Hiscox BOP for my coffee shop. They provided all it needed.
10 / 10
My HI barbershop is well covered with their great BOP product for 5 years already! not planning to switch!
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
10 / 10
Great experience
6 / 10
Didn't relate to the concept much, but it makes sense if you need insurance to go
0 / 10
It doesn't really feel sustainable to me and doesn't offer business interruption, product liability and commercial property insurance. They have no local agents and despite their technology first approach you cannot file claims online. Additionally, product manufacturers are not covered by Thimble and they don't provide enterprise solutions.
10 / 10
As a contractor that works 3 times a week for a few hours, Thimble gets really handy for me and saves me money. I have no use for these massive business insurance coverages offered by traditional insurance companies.
10 / 10
Excellent concept which is useful to many small businesses!
10 / 10
Been waiting for this type of solution for a long time!
10 / 10
Love their business insurance solutions for freelancers! Great app!
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