My brother in law (who works for an insurance company) told me I'd have been better off if the trailer come down on bed of the truck and damaged it. Then the Tow Vehicle Insurance would have covered the repairs of the truck and trailer.
Unfortunately, I saw the problem and stopped driving before it did any real damage.
I was hoping someone had a welder that they could recommend - but it's looking like I need to start looking online for a welder - and go from there. Once I have that, then I can figure out the logistics of getting it fixed. Hopefully it's not more than the 5er is worth.