You've been dreaming of this for a long time... and now you've finally done it, Congratulations! It's a big investment and it only makes sense that you’ll want the best protection for it. Ensuring you have a good trailer insurance policy in place goes a long way in giving you peace of mind for your travels. Young & Haggis Insurance will guide you through the process of building a trailer policy that’s tailored to your specific needs.
Can My Travel Trailer Be Insured On My Home Or Automobile Policy?
Many people think it’s just a case of adding a travel trailer to your home or automobile policy. It is true that a travel trailer can be insured that way. However, we strongly recommend a stand-alone travel trailer insurance policy because it provides much broader coverage. You might think that a stand-alone policy would come at a higher cost. In many cases a stand-alone trailer policy actually costs less than adding it to your home or automobile policy.
Most stand alone travel trailer policies offer replacement cost coverage while your auto policy will only provide coverage for your trailer based on “actual cash value”. Replacement cost coverage means that if your trailer is damaged beyond repair the insurance company would pay the cost to replace the unit with like kind and quality. Your automobile policy would only pay what the trailer was actually worth at the time of the accident. Considering how fast vehicles can depreciate this could result in a payout that is less than the amount left owing on the loan.
A custom stand-alone travel trailer policy also provides coverage that a standard home or automobile policy can’t offer. What if your trailer is damaged to the point that you can’t stay in it? A stand-alone policy can be customized to include coverage for a hotel expense.
What Does A Travel Trailer Insurance Policy Cover?
- Guaranteed Replacement Cost Coverage - Available on trailers 10 years old or newer.
- Personal Property Coverage - The amount of personal property coverage automatically included will vary depending on the trailer package you select. You also have the option to increase this coverage at an additional cost. The advantage of this coverage is that you don't have to get your home insurance policy involved to cover the contents in the event of a claim. The result is only one deductible for you to pay instead of two.
- Outbuilding Coverage - If you have your trailer permanently parked at an RV park you may have added on a deck or porch. The outbuilding coverage would insure damage to these structures. The amount of coverage automatically included will vary depending on the trailer package you select. You have the option to increase this coverage at additional cost.
- Fire Department Charges - If a fire department attends your premises in response to the occurrence of an insured event they may bill you for these services. If this happens, your policy will pay for such expenses and it's not subject to a deductible.
- Emergency Vacation Expense - In the event that you are using the unit on vacation and the unit suffers damage or destruction from a peril insured against by the policy and is thereby rendered uninhabitable, the insurance company will reimburse you for any necessary emergency expenses.
- Appliance Extended Warranty - Will extend the repair period offered by the manufacturers of your unit for permanently attached, manufacturer installed appliances in your unit.
- Golf Cart Coverage - Insurance is provided for a golf cart valued up to $5000 owned by you.
- Pet Injury Coverage - If your domestic pet is injured as a result of an insured peril the insurance company will pay up to $1000 in total for veterinary expenses.
- Lock Replacement Coverage - If your exterior door keys are lost or stolen, the policy provides up to $250 to re-key your locks or replace them if it is not possible to re-key them..
Does My Travel Trailer Policy Cover Me Outside Of Canada?
Whether you elect to insure your travel trailer on your home, automobile policy or purchase a stand-alone trailer policy the territorial limits will remain the same. Coverage is provided for anywhere in Canada or the United States of America only. Coverage beyond these territories cannot be purchased as part of your policy.
Contact us today for more information about Travel Trailer Insurance