Insurance for car hauling trailer can be for personal as well as commercial use. However, it is not mandatory to have an insurance if the uses are entirely personal. But if a person is using a trailer for commercial purposes, there are certain laws which require them to have some coverage and also be registered with the department of motor vehicles. The amount and type of coverage may vary from one state to another, so getting in touch with a local insurance agent can help in knowing about the rules and regulations.
Those who own a business of car hauling generally need to purchase different kinds of insurance associated with vehicle transport. Let's have a look at some of the main coverage options:
Comprehensive
The task of towing a hauling trailer is extremely dangerous and uncertain. Driving is forever unpredictable, especially because additional load is attached to the back of a vehicle. Comprehensive insurance covers events which are normally beyond the control of anyone. These may include theft, vandalism, animals on the road and inclement weather such as flooding or hailstorm.
Collision
Although a tree falling on the trailer and causing damage to it may be regarded as an act of nature, the driver must be experienced enough to not run into stationary objects and collide with them. But at times, something like that may occur accidentally. In such cases, collision insurance can cover for the damage.
Liability
If a trailer meets with an accident due to the driver's fault, liability can help in paying for the injuries suffered by the opposite party and any damage caused to their personal property. The minimum requirements are different in different states, but include the net amount of physical injury coverage for every person, the net limit if more than one person is injured, and the coverage amount for damage to property.
On Hook
It does not matter if a vehicle has been hooked onto a trailer to be moved later or is already in transit, damages may occur either way. On hook insurance can help in providing protection against unforeseeable accidents. Events covered include theft, fire, explosion, vandalism and collision with some other vehicle.
Garage Keeper's Liability
The business of a hauler may include a garage for storing vehicles that are to be delivered and picked up. Thus, the vehicles run the risk of getting stolen or damaged while they are in the garage. Having insurance for garage storage can help in paying for the losses.
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