Just like you, all insurance policies are unique. Although this information can help you navigate your insurance questions, this is not insurance advice and some details may not pertain to your specific risk. If you have a question about your insurance policy or coverage, never hesitate to give us a call.
Trailer Insurance
Whether you prefer the compatibility of a travel trailer or the ease and size of a motorhome, you need insurance to protect this valuable purchase. At Cassidy & Young, we offer a large range of trailer insurance packages and are more than happy to find one that works for you and your family.
If you are looking to purchase a travel trailer or a motorhome, it may be helpful to read about some basic differences. While travel trailers can vary in overall size, weight, shape and design, they are classified as trailers which need to be towed by an insured vehicle. Some examples of travel trailer variety include, classic travel trailers, small travel trailers, and pop up/ tent trailers.
Motorhomes on the other hand are self-propelled vehicles which have designated living spaces and can be classified in 3 separate categories—small, medium and large—based both on size and capability. Because these are recreational vehicles and are driven from inside the machine itself, they require the driver to be properly licensed in Ontario. RV’s/ Motorhomes act as self contained, portable homes and as such they require tailored RV/ motorhome policies that consider the contents and liabilities of the trailer.
As travel trails are not self-propelled and require a towing vehicle, some of your auto insurance coverages will extend to your trailer. For example, when your trailer is being towed by your insured automobile, the same liability coverage that is on your auto policy will extend itself to the trailer. This isn’t the case for all coverages, as your comprehensive and collision coverage do not extend. Your trailer is filled with valuable contents, its important to make sure they are insured. If you have a property policy, some contents may be covered under that policy, but it may fall short. Its important to speak to a trained Insurance Broker who is able to look at a wide variety of markets and determine what the best trailer policy option is for you and your family.
While tiny home and van conversions are becoming popular, be aware that many insurance companies will not insure these options. This is mainly due to the “do-it-yourself” component of these builds, which leaves insurers unwilling to accept potential errors in construction.
It may be helpful to note how insurance companies rate for trailers! Some common factors that go in to determining the cost of your trailer insurance are:
- The year, make and model of your trailer
- The value of your trailer
- Size of your trailer. This not only refers to the entire length of the trail but also the width.
- Is your trailer a single-wide or double-wide?
- Where your trailer is parked/ stored.
- The condition of your trailer
- Your driving and claims history.
- The coverages you select as well as the limits to the coverages offered.
There are several underwriting guidelines and expectations that must be met in order for the trailer or motorhome to be insured. Make sure you call one of Cassidy & Youngs knowledgeable Brokers before you embark on this new adventure!