Non-Owner Trailer Coverage

Get affordable coverage for your non-owned trailer!

Finest protection with excellent service.

For many truckers, it is common to use non-owned trailers when they haul goods to several destinations on a daily basis. Protecting a leased trailer is important and here non-owner trailer insurance offers extensive protection that covers the trailer against all sorts of potential damages when they are attached to your truck.

What is non-owner trailer coverage?

This policy is extended protection over a covered truck that secures a non-owned trailer when it is attached to the main truck. This coverage protects you against possible physical damages and risk exposures to the trailer while hauling or changing it from one unit to another. Non-owner trailer coverage proves to be advantageous only when it is attached to the main unit (truck) in the event of an accident.

Trailer Interchange vs. Non-Owned Trailer Coverage

Trailer interchange is an agreement between two truckers that makes one liable to pay for the likely damages to the rented/borrowed trailer. It is a vital part of truck insurance coverage that protects you against damages caused to the trailer whether it was attached to the main unit or not during the incident. Trailer interchange coverage provides coverage for:

• Explosion
• Vandalism
• Theft
• Collision
• Fire

Hot shot truckers, freight movers, debris removal truckers, garbage collectors, tow truckers, owner-operators, and auto haulers need trailer interchange insurance.

Non-owned trailer coverage protects all borrowed or leased trailers in your possession. If any damage happens to the trailer when they are attached to your truck then this policy reimburses for the cost that the trailers have suffered during the accident. The key difference between the two is that you don't require a written trailer interchange agreement in non-owner trailer coverage, but the trailer must be attached to the truck in the incident to qualify for the coverage.

Does My Truck Insurance Cover My Trailer?

Truck insurance policies typically cover your owned vehicle and may include limited liability for trailers you own. However, if you are using a non-owned or leased trailer, you generally need additional coverage, like non-owner trailer coverage, to fully protect against damages to the trailer when it's attached to your truck. Non-owner trailer coverage ensures that in case of an accident, the trailer you don't own is covered, as standard truck insurance does not usually extend to leased or borrowed trailers.

Why do you need non-owned trailer coverage?

If your trucking business involves the use of leased or borrowed trailers on a regular basis, then you definitely need this coverage. The trailer that you don't own should be covered for many reasons. For instance, if your truck catches fire due to some issue you never knew existed, it can cause serious damage to the trailer you are carrying. Non-owned trailer coverage protects against the physical damages caused to the leased trailer. Not having this coverage can extremely impact your trucking operations.

Also, the repairing cost of trailers can go unimaginably higher — that is the very reason why you need this coverage.

This insurance is right for you if:

• You are using someone else's trailer to transport goods.
• You don't want to pay for the hefty trailer repairing expenses arising out of accidents.

What are the benefits of non-owned trailer coverage?

If you are someone who pulls non-owned or leased trailers then you need to get this coverage for the liability surrounding the trailer you use. There are some advantages that non-owner trailer coverage offers only if the trailer is attached to the power unit during the accident:

Compensates the damages: This coverage pays you for the physical damages both small and big to the non-owned trailers when accidents happen.

Peace of mind: Pulling someone else's trailer under your custody can be stressful. If you have non-owned trailer insurance then you can continue trucking operations without worrying.

Financial support: Repairing trailers and heavy equipment is costly. This policy provides financial help when circumstances lead to damage to the non-owned trailer.

Maintain reputation: Damages to someone else's trailers can make your business reputation questionable in terms of trust and reliability. Carrying this coverage will show your financial concern towards the non-owned trailers and will make your business more trustworthy.

Non-Owner Trailer Coverage FAQs

What is a trailer interchange agreement?
A trailer interchange agreement is a written contract between two carriers that grants one carrier the right to use the other's trailer. It also establishes liability — the carrier using the trailer is responsible for damage that occurs while in their possession.

What is the cost of non-owned trailer insurance?
The cost depends on the value of trailers you typically pull, your operating radius, claims history, and coverage limits selected. Contact NITIC at 800-726-8376 for a free quote.

What sort of coverage does non-owned trailer insurance offer?
Non-owned trailer insurance covers physical damage to a borrowed or leased trailer while it is attached to your truck during an accident, including damage from collision, fire, theft, vandalism, and explosion.

Does non-owned trailer insurance differ from trailer interchange?
Yes. The key difference is that trailer interchange requires a written agreement between carriers, while non-owned trailer coverage does not. However, non-owned trailer coverage only applies when the trailer is attached to your power unit at the time of the incident.