Insuring your horse trailer can protect you from loss and liability in the case of an accident. It is important to understand your policy well, and there are many issues to consider and clarify when purchasing cheap horsebox insurance. Here are some questions to ask insurance agents, in order to get the coverage you need.
Are vet bills covered in the event my horses are injured in an accident?
Unless otherwise specified in the policy or additional riders, horses are not covered at all by horse trailer insurance. You will need to specify that you want your horse covered, explain the value of your horse and get appropriate coverage.
What liabilities are covered?
Make sure that all possible third party injuries are covered, including damage or injuries due to run away horses. Frightened or injured horses can cause injury to themselves, property and humans. Sometimes horse trailer insurance is written only to cover damage done by the trailer. Be sure that damage done by your horses is also covered, either by the horse trailer policy, an additional rider to the horse trailer policy, or by separate horse insurance.
What are the differences between collision, liability or comprehensive insurance coverage?
Liability insurance covers your responsibility to others in the event of an accident. If others are injured or their property damaged due to your error and the accident is found to be your fault, either due to your actions, or your faulty equipment you are liable for damages to others. Liability insurance pays for the damage and injury of others.
Collision insurance covers the property insured in the event of an accident. Should your property be damaged in an accident that was your fault, your property will be repaired or replaced, provided the item damaged was insured. Therefore, it is important to make sure that any item you consider valuable be insured separately against loss. For example even if your car is insured by your auto insurance, your horse trailer must be covered separately, and your horse must be insured either as part of the trailer insurance or on a separate policy.
Comprehensive insurance covers damage to your horse trailer, even if it is not involved in a traffic accident. For example comprehensive insurance pays for theft, vandalism, storm damage, or fire. Anything that happens to your horse trailer, while it is stored or parked, is covered by comprehensive horse trailer insurance.
What is uninsured or underinsured motorist insurance?
Sometimes, despite laws and regulations, people do not have any insurance. This can happen when an auto has been recently purchased, when a parked vehicle is stolen or when people fail to pay their premiums. Other times, the other motorist’s insurance is not sufficient to cover damages, and additional insurance is needed. If, for example, the accident included multiple vehicles and multiple serious injuries, damages may exceed the other party’s insurance coverage. In the event the other party does not cover all the damages to your property, uninsured and underinsured coverage will pay for damages to your property.
What if I store other property such as tack, trophies, luggage or other personal property in the trailer? Is it covered too?
Not unless the policy is written specifically to cover it. Unless otherwise specified, horse trailer insurance only covers the trailer. Additional riders can be created to include items which would then be listed in the policy.
Clarifying exactly what is covered in your insurance policy, before an accident happens, is vitally important. Knowing that what is important to you is protected in the event of an accident is invaluable. Don’t just assume that everything is covered. Have your policy written so that each important detail is attended to. Compare quotes online on equine trailer and lorry coverage, making sure that all the factors are equal. Then talk with an agent to get the extra coverage you need.