Trailer Interchange Insurance
Why Do I Need Trailer Interchange Insurance?
If you belong to the trucking industry, you must read this. It is a common practice to ship or use trailers of a third party. What you might be missing is that their insurance policy does extend to borrowed trailers, you might not get any compensation for physical damage in case of an accident. The trucker is fully responsible for any bodily damages caused to the trailer under their custody. So, it is important to aptly shield yourself, and for that, you require trailer interchange insurance.
What is Trailer Interchange Insurance?
The trailer interchange insurance is a bodily damage insurance plan designed for nonowned trailers that you may use for your own needs. You may add up this coverage to your business auto insurance plan or trucker’s liability plan. So, if you have similar commitments, you should act immediately, and protect yourself conveniently. Get your
free quote now.
Do You Need Trailer Interchange Insurance?
Whenever you request or use someone else’s trailer, it is always a safe option to have full insurance protection. You must realize that even if you own a trucker’s liability insurance, you might not have any physical damage coverage. Here are some common situations where our trailer interchange insurance can be a great help:
Trailer Interchange Agreements
It is a printed agreement between the motor carrier and the driver that demands insurance.
Power Only Drivers
Sometimes carrier companies employ drivers to ship vacant trailers and demand the driver to possess trailer interchange insurance.
The UIIA entails its members to possess minimum limits on several insurance plans including trailer interchange insurance.
So, if you are carrying freight under a printed agreement, trailer interchange insurance is a must for you. Otherwise, you may risk yourself and your pocket.
What Does the Trailer Interchange Insurance Encompass?
It encompasses a trailer you may use to haul or ship goods from one site to another. It compensates for the incurred damages to the trailers in case of loading or unloading the freight, collisions, fire incidents, robbery, or vandalism.