Unowned Trailers Also Need Coverage. Obtain Trailer Interchange Insurance

Transporting companies in Nevada can carry both their own and other motor carriers’ trailers. If the trailer you are hauling doesn’t belong to you, you must have a written interchange agreement with the motor carrier that owns the trailer.

Once you have the contract, you carry the whole responsibility for the trailer you don’t own. You are in charge of it even if it is not attached to the truck. Here, Nevada Trailer Interchange insurance comes to your rescue to protect the trailer from damage.

Physical Damage Coverage for Exchanged Trailers

Trailer Interchange insurance offers Physical Damage protection for trailers that are used but not owned by you. If you already have a regular Physical Damage insurance, keep in mind that it will not cover these trailers. It will only cover the trailers that are your property.

This is why you need a separate Physical Damage coverage provided by Trailer Interchange insurance. It will pay the expenses for the non-owned trailer in case it is damaged by collision, vandalism, fire and theft or any other physical damage.

Recommendations Related to Trailer Interchange Insurance

To benefit from Trailer insurance, you must have a truck or a pickup with at least one trailer. Other types of vehicles are excluded from this coverage. Additionally, make sure you have Liability insurance so that Nevada Trailer coverage will be available for you.

If you are motor carrier, protect your leased trailers by Trailer Interchange coverage before starting your trailer interchange operation. This might also be required by other motor carriers before they do business with you. We offer you our friendly support if you need more advice to keep clear of any risks.

Trailer Interchange Insurance Rates and Limit Requirements

The cost of the coverage will depend on the limit and deductible you choose. It will increase your overall insurance costs by $100-$1500 annually. However, the exact cost of the insurance will be impacted by factors like equipment value, driving record or loss history.

The insurance provider will always cover the expenses after your deductible is paid. And if the costs exceed the limit you have previously chosen, you will have to pay the difference.

That’s why when choosing the limit for Trailer Interchange package, you should be informed about the actual price of the trailer so that you don’t over-insure it. If your truck costs less than your limit, your deductible will be unfairly high. If it costs more than the limit, you might end up paying more than just a deductible.

The average limit ranges from $20 000 to $30 000, with an average deductible of $1000.

Our team of experts will guide you through this time-consuming process, helping you at every step. We’ll also provide consultation on choosing the right limit for your Trailer coverage. Contact us if you want to get alternative solutions for your trucking business insurance. We are fast to deliver our protection as we really understand the importance of every hour you lose while on the road. Start making progress with us!