Insurance for teardrops

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Insurance for teardrops

Postby Roddy Riggs » Sun Apr 27, 2008 6:39 pm

OK, I'll bet no one out there has encountered this one. I went to insure my teardrop (Allstate) and was informed that they don't insure home made trailers (of any kind). I explained to them that it had been thoroughly inspected by the Illinois state police, had a serial number stamped into the tongue, etc. I even told them how the inspector had complemented me on my build, even saying he would trade his 30' fifth wheel for it (joking of course). No luck, they won't budge. Help.
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Postby john » Sun Apr 27, 2008 6:51 pm

In my state (NC) the towing vehicle's insurance covers the trailer. I had not considered insurance when not in tow, though. My home insurance should cover it while parked out back, but I'd likely take the hit if tree fell on it.
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Postby doug hodder » Sun Apr 27, 2008 6:56 pm

Roddy, did they see your build and is it titled/registered as a home built? Here in Ca. we have a category (special construction), so the words "home built" never appear. State Farm has had no issues with them, but maybe some other Allstate members can respond with similar circumstances. I did find that State Farm at least here in Ca., won't insure a wooden boat though.

John, your insurance will cover any damages that YOU cause with your trailer through your auto insurance, but I'd be surprised if it covers any damages caused TO your trailer while towing or theft. I think that is going to take a separate policy. I just figured Roddy was looking at an additional policy to cover those things. Doug
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Postby Leon » Sun Apr 27, 2008 8:19 pm

doug hodder wrote:John, your insurance will cover any damages that YOU cause with your trailer through your auto insurance, but I'd be surprised if it covers any damages caused TO your trailer while towing or theft. I think that is going to take a separate policy.


Exactly! That's a big misconception with auto insurance! They usually only cover damage caused by the trailer not to the trailer itself. A few years back when I bought a boat, I financed it and the credit union required a separate policy on the trailer incase it got damaged. I had the coverage added to the boat policy, but it did name the trailer separately as to loss or damage TO it. They wouldn't cover the trailer for loss by the auto policy.
My teardrop is covered by a separate agreed value policy.
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Postby Woodbutcher » Sun Apr 27, 2008 8:35 pm

I just went through this myself. I have Metlife for my houses cars etc. They would not write a policy with a stated value of 10K which is what I asked for. I provided pictures to show the quality/design etc. They would only insure it for 6K which is what I gave them as a cost of materials. The premium was 82.00 a year. My agent found a seperate company that would cover the full 10K value I wanted for 265.00 per year. It just seemed to be the policy of Metlife to not want to cover a trailer they could not go back to a manufacturer to fix. I did not want to argue to much and have them change their minds so I just insured it for the 6K at 82.00. All the contents of the trailer falls to the homeowners policy. Good luck with your search.
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Postby john » Sun Apr 27, 2008 11:17 pm

Thanks Doug. That makes sense. If I had one of your or many of the other builds on this site I would consider full coverage if available. My auto insurance gives me all the coverage I need for my current tear. It is something to think about for my next build, though.

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Postby nikwax » Mon Apr 28, 2008 4:29 pm

this is very timely. My insurance company (Liberty Mutual) has been insuring my trailer, or so I thought...when I pressed them for details recently, they are only insuring the utility trailer chassis, not the part I've built, and they won't insure it. Are there any companies that do insure our trailers?
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Postby Miriam C. » Mon Apr 28, 2008 5:08 pm

Can't remember who but I think someone said AARP will insure them. I guess we need a rep to take care of us all. Perhaps we can get a group discount 8) :thinking:
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Postby doug hodder » Mon Apr 28, 2008 7:18 pm

nikwax wrote: Are there any companies that do insure our trailers?


I've had 4 insured with State Farm over the years. 10-12K policy runs me about 80$ a year. Doug
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Postby bledsoe3 » Mon Apr 28, 2008 9:30 pm

Allstate is insuring mine. :thinking:
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Postby Gerdo » Tue Apr 29, 2008 11:18 pm

Farmers is insuring mine for $15/6 months.
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Postby dwgriff1 » Wed Apr 30, 2008 8:57 am

State Farm insures mine at a value of $5000. They took some pictures, as they did on an old Dodge I once owned, and wrote the policy.

I pay about $20 or 25 for a year.

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Postby wanders » Wed Apr 30, 2008 6:34 pm

Just went through this mess. Cars are insured by Nationwide. They would insure the the tear also, but at a pretty high rate on a separate RV policy.

My plan is to shop it when the auto policy comes up for renewal.
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Postby CASHCOW » Wed Apr 30, 2008 10:49 pm

Allstate was going to insur mine just had to put up the $> $> $>
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Postby 2bits » Thu May 01, 2008 12:25 am

I insure my classic truck with Hagerty Collector insurance. The truck is $135 per year with no restrictions beyond being garage kept. Here is their link for their trailer insurance. Looks like we would fall under the "Teardrop-Streetrod-Trailer" that they mention by name, although it is not really a teardrop in their sample pic, it certainly looks like they would insure one just from the page! I will be calling them in a month to add mine.

http://hagerty.com/Auto/vehicle_trailers.aspx
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