Does non-owned trailer coverage extend protection to when trailers are parked?
Non-owned trailer coverage typically protects unowned trailers for the full duration that a business is using them. The coverage normally applies whenever the business is responsible for any damage the trailers might sustain.
Thus, this coverage often does protect trailers when they’re parked. Protection frequently applies when trailers are being towed, connected and parked, disconnected and parked, or being unloaded or loaded.
To make sure that trailers are covered when parked, businesses should work with a specialized insurance agent who knows interchange coverage well. A knowledgeable agent will be able to make sure a specific policy’s terms include protection when trailers aren’t in use.
Does trailer interchange coverage protect cargo?
Trailer interchange coverage primarily focuses on protecting non-owned trailers, and not so much the cargo within. Protection for cargo typically requires separate cargo insurance coverage.
Separating coverages like this makes it easier to customize a policy for a business’s particular equipment and needs.
Can trailer interchange coverage be included in a current trucking policy?
Incorporating trailer interchange coverage into existing trucking insurance policies is often doable. Since this coverage is commonly sought after by freight companies and others in the trucking industry, it can usually be added without hassle.
An experienced insurance agent can help businesses add interchange coverage if they don’t already have it.
How are trailer interchange coverage premiums determined?
A number of factors can influence the premiums charged for trailer interchange coverage, including the number of interchange agreements a business signs, the types of trailers a business uses, where the trailers are transported, and other related details. As these factors can vary significantly from one situation to another, premiums for this coverage also differ accordingly.
For precise interchange coverage cost estimates, businesses should consult with an independent insurance agent.