Policies Included in Dump Trailer Insurance
Owning and driving a dump trailer has its risks. That's why you need the coverages that apply in your line of work. These include:
Dump Trailer Auto Liability Insurance
Accidents might happen on the road and you might injure someone. If your dump trailer caused the accident, auto liability coverage can assist you in paying any legal obligations. Auto liability insurance is a state-required coverage that every dump trailer must have.
Auto liability insurance for dump trailers includes bodily injury and property damage liability. Bodily injury liability will compensate for the pain and suffering of third parties. On the other hand, property damage liability will help you pay for the damages to the third parties' property.
Dump Trailer General Liability Insurance
General liability insurance is a dump trailer rental business insurance and dump trailer business insurance policy. It will cover you for bodily injury and property damage caused by your dump trailer to other individuals or their property while it lies stationary in the terminal.
Dump Trailer Cargo Insurance
Dump trailers are also useful for transporting high-value commodities. If this applies you, consider getting dump trailer rental business insurance or dump trailer business insurance to cover cargo. If you're moving a shipment and are involved in an accident, you may be liable to compensate the client for the cargo's loss. Cargo insurance can help safeguard your cargo from damages resulting from collisions, theft, and fire.
Dump Trailer Physical Damage Insurance
Does a dump trailer need insurance for physical damage? Absolutely , using your own money to pay for repairs can be so expensive. Since liability insurance won't cover damages to your dump trailer, getting a physical damage cover helps you get back on the road without paying too much for a mechanic’s service.
Note that physical damage coverage is included in collision insurance and comprehensive insurance.
Collision insurance will pay for the repair service of your vehicle if it got involved in a road crash, while comprehensive insurance will fix any damage to the dump trailer as caused by flood, storm, vandalism, theft, arson, and other named perils.
Non-Trucking Liability Insurance
Non-trucking liability insurance covers accidents that happen when a dump trailer is used by the driver for personal errands.
If you're at fault in an accident but weren't on the clock, this policy can assist in covering the responsibility to pay for the losses or damages of third parties.
Also read:
Contracted Value, Loan, or Lease Gap Coverage
If your dump trailer depreciates faster than its contracted value, loan or lease gap coverage can help ensure that you do not end up with a net loss on your loan or lease.
Truck Rental Reimbursement Coverage
You can rent a replacement dump truck and dump trailer and receive compensation for a major portion of the rental cost if you have equipment rental reimbursement coverage.
Dump Trailer Rental Insurance
Those renting our dump trailers for money must get coverage through dump trailer insurance. Policies included are general liability insurance with products and completed operations coverage, equipment breakdown coverage, inland marine insurance, and commercial auto insurance.
Dump Trailer Rental Insurance Cost
The best way to know how much insurance for rental dump trailer costs is to speak with your insurance broker or get quotes online. Expect to pay $2,000 a year or 166.66 a month for insuring a single dump trailer with tailored rental coverage. One factor that determines cost is the physical size of the dump trailer - the bigger it is the higher the premiums.
Dump Trailer Insurance Cost
The average dump trailer insurance cost in the United States is $140 a month or $1,680 a year for a $1 million general liability insurance.
But still, we can also determine the pricing based on the specific policies included. And so, here's a table showing the cost of dump trailer insurance policies.
| Cost per Month | Cost per Year |
Commercial auto
| $200 | $2,400 |
| General liability | $140 | $1,680 |
| Physical damage | $150
| $1,200 |
| Cargo insurance | $150 | $1,800 |
For further reference, here’s a table showing the pricing of the best dump trailer insurance companies.
| Cost per Month | Cost per Year | Best for |
| CoverWallet dump trailer insurance | $139 | $1,668 | Dump trailer insurance quote comparison online |
Geico dump trailer insurance | $152 | $1,824 | Dump trailer commercial auto insurance policies |
| Progressive dump trailer insurance | $206 | $2,472 | Tailored dump trailer insurance for high-risk operations |
| Travelers dump trailer insurance | $214 | $2,568 | Fast dump trailer insurance claims process |
The Hartford dump trailer insurance
| $225 | $2,700 | Dump trailer insurance available in all locations of the US |
Factors Affecting Dump Trailer Insurance Cost
In essence, dump trailer business insurance will vary between brokers or carriers as numerous factors affect the pricing such as:
Vehicle-based factors
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Safety driving devices on the dump trailer
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Brand of dump trailer
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Age and condition of the dump trailer
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Value of the vehicle itself
Usage-based factors
