Re: [A/S] Insurance for trailers/ Newbie????

[John P Sargeant <sargeant@xxxxxxxxxxxxx>]

I think this question and variations on it , have come up on this list
before.
Basically,  you can think of your trailer in 2 ways. One as a vehicle on
the road and the other as a residence.
While it's a vehicle on the road, it needs coverage for damage to itself
and damage it may do to others.  That usually can be accomplished by an
automobile coverage for damage to itself and for liability. In some
jurisdictions, the liability coverage on the towing vehicle extends to
cover the trailer, while it is being towed.
Once it is detached from the tow vehicle, it becomes a temporary
residence and needs to be looked at in that light. It needs coverage on
itself and its contents, for damage and for liability. (some one falls
out your door and injures themselves and sues you as the owner of the
trailer).
You need to talk with an insurance broker or agent who is familiar with
this type of risk. A lot of folks I see on this list are insured with
Foremost.
A little reminder about insuring the trailer is to make sure that it is
properly described and valued when you insure it. Most trailers have an
active market that sets the value when there is a claim. It's called
Actual Cash Value or depreciated value. So if your trailer is 10 years
old, and was totally destroyed or the cost of repairs plus the salvage
value are more than the actual cash value, then the adjuster would set
about finding out what a 10 year old trailer of like kind and quality
would sell for. In our type of trailers, you have to make sure that the
adjuster researches knowledgeable sellers, not the local SOB dealer.
If the  trailer is "vintage" , I'd suggest that you have your insurance
agent insure it on a pre-agreed value basis. That is that you get an
appraisal on it's value prior to any claim and agree with  the insurer
that if it is written off or a total loss, that it's value is the agreed
value. No arguements, no depreciation etc.

As far as "rescue" insurance is concerned, I have CAA (like AAA) which
writes an RV coverage and will tow me or send someone out to fix my flat
tire or what ever. It is cheap insurance for what you are getting.

Hope you travel claimless.

--

                  John P Sargeant