Utility trailers provide unparalleled performance and are integral in commercial trucking just like enclosed trailers. Businesses leverage these commercial utility trailers to haul equipment and machinery as well as transport goods and supplies to destinations.Â
Similar to horse trailers, authorities will require you to insure and register big utility trailers. While each state will have various insurance requirements, a standard requirement is purchasing utility trailer insurance.
Commercial utility trailer insurance is a specialty cover taken out by businesses as a protection from unexpected events involving their commercial utility trailers. It offers compensation in the event that the commercial utility trailer is damaged, lost, or is liable for the injuries and property damage of others.Â
Unlike a personal tool trailer insurance, commercial utility trailer insurance is more comprehensive as it offers different kinds of business insurance policies.Â
 Commercial Utility Trailer Insurance coverages
The features of commercial equipment trailer insurance differ from one carrier to the next. Nonetheless, these are the most common business insurance policies you can get:
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For utility trailer businesses, general liability insurance provides a $1 million-$3 million per occurrence limit with an aggregate of $3 million-$4 million.Â
Professional liability insurance will pay for indemnification and defense costs if clients sue for negligence because of:
In the event of the occurrence of the insured risk, professional liability insurance offers a $1 million per occurrence limit with an aggregate of $2 million.Â
Similar to general liability insurance, product liability insurance also covers attorney fees, settlements, administrative costs, and other related expenses.
Product liability insurance is available as a stand-alone policy. The limits of the policy are $1 million-$2 million with an aggregate of $2 million.Â
The primary function of commercial property insurance is to recover losses if your utility trailer business’s building is damaged or destroyed by:
For utility trailer businesses, commercial property insurance provides a $15,000-$25,000 coverage for business property damage or loss. This is just the minimum though. It’s possible for you to find a carrier providing up to $500,000 coverage.Â
Workers’ compensation insurance will cover the following costs:
Determining whether you need insurance for a utility trailer depends on several factors, including how you use the trailer and your existing insurance coverage.
The cargo insurance will allow you to reimburse the owners if the cargo being transported through your trailer becomes lost or damaged due to a vehicular accident, employee error, theft, lightning, jettison, and other covered perils.Â
There are various factors that will affect the cost of utility trailer insurance, such as the type of trailer, the dedicated value of the trailer and the different policies available. Here’s breakdown of average costs along with the affecting factors:
Average Costs
Minimum Coverage: Typically, minimum utility trailer insurance can be estimated to cost between $200 to $800 in a year.
Full Coverage: On the other hand, full coverage can also be high, reaching from $417 to $1, 674 a year, depending on the insurance company and some specific details in the policy.
Insurance companies also underwrite emergency roadside assistance for utility trailer businesses. This will provide a $750 compensation for transportation expenditures if your utility trailer breaks down and needs to be towed. You also get a $500-$1,000 refund for tire replacement and roadside repair services.
On average, a dual utility trailer will cost between $1,200 and $3,000, depending on size and weight capacity. A commercial-quality utility trailer will cost between $4,000 and $7,500.Â
For most businesses, this will take a huge chunk of your budget. Fortunately, depending on your business model, you can rent out a utility trailer.Â
The insurance coverage starts by covering the cost of the actual renting. After that, every cost incurred while you are in possession of the utility trailer is covered by your rental policy.Â
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Theft insurance for utility trailer will cover the repair costs in the event of theft. This policy can also replace your utility trailer if you can’t recover it after being stolen.Â
Utility trailer theft insurance is bought as a replacement cost or actual cash value policy. An actual cash value theft insurance will only compensate your loss if the utility trailer gets damaged or lost due to theft.Â
On the other hand, replacement cost theft coverage will compensate and give you the chance to buy a new utility trailer.Â
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The insurance rate for a utility trailer depends on multiple factors. The average utility trailer insurance cost is $800 per year or $66.67 per month for a $1 million liability coverage. The disparity with this figure is likely since trailers come in all shapes and sizes.
Take a look at this table that shows the rates of the best utility trailer insurance companies:
Company | Cost per Month | Cost per Year | |
CoverWallet | $25.67 | $308.04 | |
NEXT | $27.88 | $334.56 | |
Tivly | $27.88 | $334.56 | |
Thimble | $31 | $372 | |
Progressive | $33.83 | $406 | |
State Farm | $34.75 | $417 | |
USAA | $35.50 | $426 | |
Geico | $97.33 | $1,168 |
Here’s a breakdown of the best utility trailer insurance companies. Read to know their pros, cons, and pricing for a $1 million general liability coverage.Â
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It covers utility trailers used commercially through its commercial truck and trailer insurance program. Policy options are general liability and commercial auto insurance.Â
Average cost: $25.67 per month
Our rating: 10/10
You need to call a representative of this company to know if your utility trailer can get covered. If it does, insurance policies you can avail for your utility trailer are equipment breakdown, liability, physical damage, and theft insurance.Â
Average cost: $27.88 per month
Our rating: 10/10
NEXT provides coverage if you rent or lease utility trailers. Business insurance policies you can avail for your utility trailer business are general liability, commercial property, workers compensation, and more.Coverage for utility trailer rental or leasing businesses is offered in partnership with Tivly.Â
Average cost: $27.88 per month
Our rating: 9/10
Average cost: $31 per month
Our rating: 9/10
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Geico is the country’s second-largest insurance company. It offers low rates utility trailer insurance enabling you to save a lot of money on auto insurance.Â
 A search online of Geico’s average annual rate is $1,168. This value will be lower or higher depending on the specifics of your utility trailer.Â
Average cost: $97.33 per monthÂ
Our rating: 9/10
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State Farm offers its auto insurance policy in a total of 33 states.a full-coverage policy will cost you $1,045 per year.
Best for: Customers seeking to connect with local representatives
Average cost: $34.75 per monthÂ
Our rating: 9/10
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USAA is a great option for young drivers with a utility trailer. USAA only allows people who have served in the military and those whose direct family members have had USAA insurance.Â
Average cost: $35.50 per monthÂ
Our rating: 8/10
Progressive utility trailer insurance makes provisions for policy extension. You can include personal property coverage that includes coverage for all personal effects within the utility trailer.
Average cost: $33.83 per monthÂ
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.
Decent experience with Hiscox business insurance
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.
Best insurance ever
Coolest concept, I wish this was applied to other insurance products too.
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!
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
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
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
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
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
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
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
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
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
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
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…
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.
Decent experience with Hiscox business insurance
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!
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!
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!
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.
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.
Hiscox's the best! My business is insured with them for over 12 years and am not planning to switch!
Excellent experience with Hiscox BOP for my coffee shop. They provided all it needed.
My HI barbershop is well covered with their great BOP product for 5 years already! not planning to switch!
Best insurance ever
Coolest concept, I wish this was applied to other insurance products too.
Great experience
Didn't relate to the concept much, but it makes sense if you need insurance to go
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.
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.
Excellent concept which is useful to many small businesses!
Been waiting for this type of solution for a long time!
Love their business insurance solutions for freelancers! Great app!