TRAILER INTERCHANGE INSURANCE

Commercial Use Vehicle Insurance. New or Existing Business Give Us A Call For A Quote Today!

Request a Quote

(212)-493-3322

Name

Phone

Home State

ZipCode

Comments

What is Trailer Interchange Insurance?

Trailer Interchange coverage provides comprehensive and collision coverage to the multiple non-owned trailers you will be swapping out from shipment to shipment.

This coverage is responsible for providing repairs or replacement for any non-owned trailer that gets damaged while in your possession.

Who Needs Trailer Interchange Insurance and Why?

If you pick up commodity full trailers from one destination and drop them off at another chances are, you will need this coverage. When you own your own trailer you can ensure it is covered for damages by simply including it in your Auto Physical Damage policy. However, if you do not own a trailer and are going to be swapping them out often, you would need to have trailer interchange coverage in place as it will cover any of these trailers while they are in your possession.

What Trailer Interchange Insurance Covers

Trailer Interchange covers comprehensive and collision damage to any trailer that is in your possession at the time of a claim or loss. This includes damage from fire, vandalism, theft, loading, unloading, and of course, from collisions. This is meant to cover the trailers that you do not own. This coverage will ensure that the damaged trailer is repaired or replaced.

What Trailer Interchange Insurance Doesn't Cover

This coverage will not cover:

Damage to your vehicle (power unit)
Damage to any commodity you’re hauling (cargo)

How Much Trailer Interchange Insurance You Need

Typically you will see motor carriers acquire around $30,000 in trailer interchange coverage, but you can always increase or decrease that limit

Trailer Interchange Insurance VS Physical Damage Insurance

Trailer Interchange provides just about the same coverages as Physical Damage coverage. However, these two coverages are different in one big way.
While Physical Damage provides coverage for a trailer you own and specify on your policy, Trailer Interchange provides coverage for multiple trailers that you do not owned and are not specifically listed on your policy, so long as they are in your possession at the time of the claim or loss.

If you own a trailer and want to get it covered, Auto Physical Damage coverage is what you may want to consider.

If you are going to be swapping out trailers that you do not own on a regular basis, you’ll want to take a look at Trailer Interchange coverage.

How Much Trailer Interchange Insurance Costs

This coverage is usually not sold as a standalone policy and is usually packaged together with either an Auto Physical Damage policy or a Motor Truck Cargo policy.

This coverage can cost anywhere from $500 – $1,500 for the year, depending on the limit you’ve selected.

What Factors Effect Trailer Interchange Insurance Pricing?

The factors that determine pricing are:

Commodity Type
Radius
Driver Record/Experience
Limit
Deductible
Insurance History
Years in Business

Which Deductible To Choose

When choosing a Comprehensive/Collision deductible, keep in mind that the higher the deductible, the lower the total cost will be. This is because by paying a higher deductible, you are taking on more of the monetary risk. The same concept applies to a lower deductible. The lower the deductible, the higher the total cost of insurance. This is because you’re taking on less monetary risk.

For Trailer Interchange coverage, most insurance companies will offer deductibles of $500, $1,000, $2,500, $5,000, etc. Remember that not all insurance companies are the same and some provide options for higher deductibles, while others do not.