The use of trailers that are not owned by your company is a standard procedure in the trucking industry for a lot of reasons. Sometimes it is a fast replacement for a piece of equipment you do own that you had to rent while yours is being repaired. Sometimes it’s a trailer type you just need for a job or two, so you haven’t invested in your own. It can even be because a customer wants you to pick up their trailers when you move their cargo, but regardless of the reason you need trailer interchange insurance to cover your risks when you use other people’s equipment.
Damage Coverage for Non-Owned Trailers
Interchange coverage is actually quite simple compared to many other kinds of business insurance. It is a damage policy for the trailers you use on a temporary basis and do not own, similar to the vehicle damage provisions you carry on your own trucks and trailers. You need to select a coverage cap and deductible amount, and then you are covered against liability for damage to other people’s trailers when you borrow, rent, or lease them.
Find Coverage for Your Business
If you are looking for simple and easy to calibrate trailer interchange insurance that reflects your company’s fleet size and other defining characteristics, they are commonly offered by major commercial trucking insurance providers. That makes them easy to find when you need a stand-alone policy and simple to include in a more comprehensive insurance plan.