Restoration Insurance: Insuring Trailers and Their Contents
We have found that many of our restoration contractor clients use trailers in their daily operations. The questions then often arises in regards to the best way to insure a trailer and the contents inside it.
Trailers used for your restoration company's operations best insured under the commercial auto insurance policy. The commercial auto policy will provide the liability coverage on the trailer while it is hooked up to one of the company's vehicles. (If there is a liability claim associated with the trailer when it is not hooked up to any vehicle, then your general liability insurance policy will actually provide the necessary coverage.)
The commercial auto policy will also provide comprehensive and collision coverage on your trailer as well. That way if the trailer is lost or destroyed, you will receive a reimbursement for its value.
Many restoration companies use their trailers to store and transport tools and materials. What happens, though, if the contents of your trailer or stolen or destroyed?
Your trailer's contents will be insured under your company's property insurance policy. The applicable coverage will depend on the type of materials carried in the trailer. For your tools, you will need to have a tools and equipment floater that will provide coverage to your tools while their offsite.
If you have further questions on properly insuring your restoration company's trailer and materials stored within, please don't hesitate to give our office a call.