Restoration Insurance: Insuring Trailers and Their Contents
We have found that many of our restoration contractor clients use trailers in their daily operations. Questions often arise about how to insure a trailer and its contents.
Trailers for your restoration company's operations arise regarding the best insured under the commercial auto insurance policy. The commercial auto policy will provide liability claim disability coverage on the trailer while it is hooked to one of the company's vehicles. (If a liability claim is associated with the trailer when it is not hooked up to any vehicle, then your general liability insurance policy will provide the necessary coverage.)
The commercial auto policy will also provide comprehensive collision coverage on your trailer. 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 a means and equipment floater to provide coverage to your devices while they are offsite.
If you have further questions on adequately ensuring your restoration company's trailer and materials are stored within, please don't hesitate to call our office.