Insurance for Horse Trailers: Everything You Need to Know
According to a statistic taken in 2012, approximately 1.75 million American households own on average of 2.7 horses. Meaning, there are a lot of horses that need to travel, and unless you have an old town road, they need to travel in a trailer. And every trailer needs insurance. So, what all is there to know about insurance for Horse trailers? More than you might think.
Insurance for Horse Trailers can help cover damage to the trailer, theft, and even associated expenses. However, the amount of insurance you may need can vary. And not all auto insurance coverages cover horse trailers. But an insurance agent can answer all of your questions.
In the world we live in today, we spend a lot of time driving to many locations. And because of that, the likeliness of accidents occurring, rises. And the unfortunate truth for traveling horses is that they fall prey to that likeliness as well.
Horses need to travel, whether it be to shows, breeding facilities, tracks, parks, barns, sales, moves, or any other reason. And when you are on the road, you can fall victim to a crash. Whether it is your fault or another’s, those horses and the trailer need to be covered. So, how are they covered?
What does Insurance for Horse trailers cover
Like any insurance coverage, it always depends on what company you are receiving your insurance from. So, it is always a good idea to contact your insurance agent to find out what is or can be covered. And if you do not like the answer, contact other insurance agents until you find the agent and company you like the most.
But always remember, keep your needs in mind. Do not settle on your insurance. And a good insurance agent will work with you to create a plan that meets all of your needs. And they may even be able to bring up other cover items that you may have not thought of in the first place.
For Horse Trailers in specific though, there are at least three items that you need to make sure is in your insurance policy. Those three insurance policies cover damage to your horse trailer, theft, and associated expenses. And we will break down those three for you.
- Damage to the Horse Trailer – as any type of trailer, the price tag can vary from reasonable to very expensive. However, no matter the cost, you still spent your earned money on it. So it is only reasonable that you pay for coverage that covers the cost of your trailer if it is damaged. And luckily, this type of policy is in most coverages, however, the amount of coverage, deductible, and other items will vary.
- Theft – This is another unfortunate part of our world, but some people will steal if given the opportunity. And that even goes for things as big as Horse Trailers. And when a person steals, they are often not too careful to leave everything else in perfect order. So if other damage occurs, a theft policy can cover that as well.
- Associated Expenses – this category is to cover expenses that surround an accident. Meaning, if during the accident your horse(s) is injured, the Associated Expenses policy will help cover the cost of treatment or for boarding will your horse(s) recovers. In addition to, while you trailer is being repaired, and you need to rent one, this policy will help cover that rent as well. Of course, different insurance policies will offer varying options as well.
So, no matter what type of horse trailer you have, how expensive or inexpensive it was, or if you were involved in a car crash or you fell victim to theft, horse trailer insurance is going to help you a ton. Just make sure you have those three policies, and the insurance agent will help you from there on adding any other policies.
How Much Insurance does your Horse Trailer Need?
This is a very common question across all types of insurance, so it is no surprise that it is for insurance for Horse trailers. Insurance for horse trailers is the same for all aspects of insurance, and that is that the amount of coverage that you will need will depend on several factors.
Just as auto insurance, factors such as age, condition, and value of your horse trailer will need to be taken into account. You will also want to consider what the trailer will be carrying. Obviously it is horses in this case, but the number of horses, their equipment, and the collective value of everything inside must be taken into consideration.
In addition to your property, you will also want to take into consideration, the environment that you live in. Meaning, if you live in an area that is prone to natural disasters, theft, or anything out of your control, that will affect the type of policies you will need for your insurance for horse trailers.
Other key factors to think about are as follows:
- How often you will be towing the trailer
- How far you will be traveling with the trailer
- Who will be allowed to be towing the trailer
- and Where you will be storing the trailer between tows
before getting insurance for horse trailers, always ask yourself this: How much are you willing and able to pay if an unexpected accident arises? That is the number one question that an insurance agent will ask and take into account for making your insurance policy.
Auto Insurance for Horse Trailers
Yes, some auto insurance policies will cover your horse trailer. But just like any insurance policy, what is covered and what is not will vary between all the different insurance companies. And some that do cover horse trailers may only offer liability coverage. Which, is the insurance coverage for damage that your trailer might cause to another’s vehicle or property. But it does not cover the damage to your horse trailer.
And to top it all off, most auto insurance policies will not extend enough coverage to cover the contents of the trailer. Meaning your horses and their equipment would not be covered, which is a devastating effect of an accident. And that’s not even it, liability coverage does not cover you in the event of theft, storms, or other damage-causing situations.
But for some good news, your home insurance may offer some coverage of the items carried inside your horse trailer, in the event of theft or an accident. It is important to talk with your insurance agent as to what your home insurance covers and if it offers any insurance for horse trailers.
Price of Insurance for Horse Trailers
And I am sure you already know the answer here. As for all insurance policies, the cost for it will vary rapidly. Not only does the policies you choose to have raise or lower price but also the company that you are purchasing insurance for horse trailers from.
Horse trailer insurance can help you worry less when you are traveling with your beauties. So, even though you do have to pay a bit, it is worth having the safe of mind and the coverage for the worst-case scenario. I am sure your horse pals would say the same.
For any further questions that you may have about insurance for horse trailers, please content your insurance agent or a new insurance agent for more information. The agents are always the best source of information and tips for getting the coverage you need.
This article was sponsored by Chris Lile, State Farm Agent in Tulsa, Oklahoma. Chris specializes in Auto, Home, Business, Property, Life and Health Insurance. You can visit Chris’s website here to learn more about him and his insurance coverage.