(800) 869-8643

admin@hayesbrokers.com

Ins & Outs of Personal Trailer Insurance

Ins & Outs of Personal Trailer Insurance

There are few things more handy that a utility trailer. You purchase an inexpensive one, attach it to the ball hitch on your personal vehicle and then you’re free to haul things to your home, away from your home, and around the country. But where does insurance for that trailer come in? If it hits someone or something while you are towing it, where is the coverage? If the trailer itself is damaged, is there coverage for that? You have questions, we have answers. Liability May Be Automatic The ISO Personal Auto Policy (PP 00 01) describes covered autos to include “any ‘trailer’ you own”. As long as your personal trailer is attached to your personal vehicle, liability insurance coverage is typically extended to the trailer attached to or being towed by the insured vehicle. In fact, many of the exclusions applied to liability coverage for personal vehicles do not apply to trailers within the coverage form. Check your policy or speak with your broker to verify coverage, as some policies may exclude this coverage as a cost-saving measure. Physical Damage To Trailers Isn’t Covered While auto liability coverage does extend to an attached trailer, physical damage (also known as comprehensive and/or collision coverage) does not automatically extend to the trailer. In fact, the personal auto policy specifically excludes this coverage with the following wording: We will not pay for: 7. Loss to: a. A “trailer”, camper body or motor home which is not shown in the Declarations; or b. Facilities or equipment used with such “trailer”, camper body or motor home. In many cases this coverage may not...
How New Employees Affect Your Auto Insurance

How New Employees Affect Your Auto Insurance

How do I know if my auto insurance rates are going to go up when hiring a new employee? Hiring a new employee impacts many facets of your business, including your insurance.  If the employee is to be included as a driver on your company auto insurance policy, there are ways to determine if your auto insurance premium will be affected. In most cases the auto insurance premium will not be affected until the renewal of the policy, but in some rare cases it can be affected right away.  Here are three ways to determine whether a driver is going to affect your auto insurance premium. 1. Ask Your Agent To determine whether an employee will affect your policy premium is to ask your agent to check the employee driving record.  Your agent will ask you for the name and date of birth of the driver, as well as the state and number of the driver’s license.   An authorization form signed by the prospective employee consenting to the Motor Vehicle Report (MVR) request may be required. There may be a charge for these services, so it is best to use this option only for drivers who have reached the final stages of the hiring process.  Your agent will NOT be able to provide a copy of the MVR for your records.  They also cannot advise you whether or not to hire the employee.  The only information the agent can provide is whether or not your insurance carrier would consider the prospective employee to be an insurable driver or an uninsurable driver.  If the driver is uninsurable driver and...