Your Guide to Commercial Trailer Insurance

The Transwest Team
The Transwest Team
Sep 09, 2021
Two people's hands as they go over a contract

For those who operate a commercial trailer, one of the first steps before ever hitting the road is to purchase an insurance plan. Commercial trailer insurance covers any form and size of trailer. Whether you are towing equipment or transporting animals, having commercial trailer insurance is a must.

The following is your guide to commercial trailer insurance, providing you with the information you need to get the best deal and to navigate the coverage options available on the market.

When you’re ready to finance your commercial trailer, our partners at Trans Lease are ready to support you. Contact them today to learn more.

Commercial Trailer FAQs

As you explore your options for commercial trailer insurance, you’ll undoubtedly have a few questions along the way. The following frequently asked questions and answers can help guide you as you look for the best option for your needs.

What types of trailers need insurance?

If you plan to use a trailer for commercial operations, you will need insurance regardless of the type of trailer. This includes flatbeds, livestock trailers, lowboys, tank trailers, drop decks, and more. If you are towing it for business, it needs insurance coverage.

Not only is this a legal requirement, but it helps protect you and your business.

What coverage do you need for your commercial trailer?

The amount of coverage that you need for your commercial trailer will depend on two things:

  1. The use of the trailer
  2. The value of the trailer

During the process of insuring you, an agent will discuss the type of coverage that best fits your specific business needs.

What does commercial trailer insurance cover?

What commercial trailer insurance will cover depends on the insurance policy you opt for:

  • Liability coverage will cover damages you cause to another vehicle in the case of an accident. This is the type of insurance that must be carried in order to meet legal requirements in all states.
  • Collision coverage will cover your trailer in case of an accident, regardless of who is at fault.
  • Comprehensive coverage will provide additional coverage for things like theft and weather events. The exact coverage offered will depend on your specific policy, so always be sure to inquire about the benefits of comprehensive when pulling quotes.

What factors influence the cost of your commercial trailer insurance?

Commercial trailer insurance varies in cost based on a few key factors. These factors include:

  • Your driving record
  • Your driving experience
  • The distance you will be traveling with the trailer
  • The use of the trailer
  • Where the trailer is stored when not in use
  • The value of the trailer

Commercial Trailer Insurance Checklist

Before you begin the process of pulling quotes and finding insurance for your commercial trailer, it can be helpful to gather some basic information and items.

Use the following checklist to ensure you have everything readily available before you begin the process:

  • Your driver's license number
  • Your basic driving history, including any documented offenses, such as speeding tickets or reckless driving
  • VIN number for the trailer
  • Safety features of the trailer
  • Any current insurance policies held on the trailer

Remember, when pulling quotes, always be as straightforward and honest as possible with the insurance company. This will help ensure that the quote you receive is accurate and that your trailer is insured properly.

Quick Tips for Getting the Best Deal on Commercial Trailer Insurance

In addition to having all of the above information handy, there are a few quick tips that can help you get the best deal possible on your commercial trailer insurance.

  • Provide accurate and detailed information. The more information you can provide to an insurance agent, the more accurate the quotes provided will be. This in turn can help you as you shop around, ensuring that you are actually comparing similar coverage options.
  • Don’t hesitate to shop around. Most insurance companies will be happy to provide you with a free quote for your commercial trailer. Don’t simply settle for the first quote you get. Take some time to shop around. Pick at least five different companies and compare coverage options.
  • Look into safety program discounts. In some situations, you can actually lower your commercial trailer insurance premium by running a safety program.
  • Ask about fixed premium options. In some cases, an insurance company will allow you to pay ahead to secure a fixed premium for years at a time. This can help save you a lot of money in the long run, as insurance premiums frequently go up.
  • Consider bundling your assets into one plan. Many insurance companies provide discounts when you insure more than one trailer with them. For example, you’ll undoubtedly need insurance for the truck that will be towing your trailer, so ask about discounts for bundling everything into one plan.
  • Pay attention to the customer service you receive. Keep in mind that if you ever need your insurance company, you will probably be in a time-sensitive situation. For example, if your trailer was in a collision, you’ll need your insurance company to respond quickly so that you can schedule repairs and reduce costly downtime. Even if an insurance company is offering a good deal, if they have poor customer service, you could wind up losing more money in the long run.

Visit Transwest for All Your Commercial Trailer Needs

At Transwest, we are passionate about helping those who work in the commercial trucking and trailer industry. We carry a quality selection of commercial trailers, all backed by trusted manufacturers.

Whether you are ready to expand an existing fleet or just now entering the commercial trailer industry, we are here to help. We can walk you through the trailers available in our inventory, providing you with detailed information on each make and model. And, we can assist you with financing options, ensuring that you can pick the right trailer for your long-term business needs.

Additionally, once you drive away with a new trailer in tow, you can continue to count on our team for all your ongoing maintenance and parts needs. Come visit one of our locations today to learn more.


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