Just got my bill for the horse trailer insurance… we have an agreed declared value of $7,000 on this two horse bumper pull… the bill is for $1.14 for six month coverage… 19 cents a month
Years ago we added the trailer to truck policy without really asking the cost and never thought much about it. Just assumed it was greater than 19 cents a month as nothing is ever that inexpensive, so I thought.
What does the policy cover? That’s a sweet deal if it covers a complete replacement!
Sounds right to me. I’ve added my trailer to both USAA and Erie auto policies and it’s nominal increase, with agreed value.
I valued my horse trailer a bit more than that and added it to my USAA auto policy, as well as its OWN roadside policy separate from the truck. It was nominal. I think ins companies know that trailers aren’t on the road as much as cars/trucks, and generally can’t be involved in their own accidents separate from the truck, and price accordingly.
More than likely it does cover complete replacement. We have always had separate insurance on our trailers, and when our 1998 model trailer was destroyed in a tornado in May 1999, USAA paid us the full value of it ( I think it was around $16k???).
A funny memory about the USAA rep… he asked where the trailer was located so he could come assess it and have it towed away. We told him he could go pick up what was left of it in the field north of the barn, and carry it away in the trunk of his car. All that the tornado left us was a roof vent, part of the rear bumper, and part of a divider.
I think mine is something like $12 a year. I thought I was getting a good deal… apparently I’m getting ripped off! :lol:
You may want to read the details of your policy. Seperate coverage sounds good but may not really cover what you expect.
A friend was hit by a drunk driver, killed the just sold horse inside, totaled out the almost new aluminum gooseneck trailer. Their policy did not cover replacement or damages for the dead horse. Drunk was uninsured, no drivers licence. Her insurance agent was very surprised that trailer was only covered to protect anyone she hit with it. So even agents may not know what they are talking about. They “assume” they know what they are talking about, do not check the details.
She had to pay off the wrecked trailer, then buy a second trailer out of her own pocket. You bet she read the details of her new, seperate trailer policy to find the trailer replacement clause and coverage if equines inside were hurt or killed.
You all got me thinking about this, I got my insurance bill yesterday. I am paying $48 a year for mine… Now I am wondering just exactly how much my policy covers. Because what I paid for my trailer and what it would cost to replace, are two vastly different amounts…
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