To buy or not to buy insurance?
I sold my old travel trailer after ten years of use and I just ordered a new rig that tops out at $30,000. I never bought insurance on my old trailer because I paid cash and did not finance. I'm pay...
Forum Discussion
Lantley wrote:
Very simple if you can absorb the $30K loss without any negative consequences no insurance required.
If you cannot absorb the loss you need to buy insurance.
the liability your exposed to is WAY more than 30K. once the trailer is unhooked your on the hook not just for trailer damage but liability. someone trips and falls on the stairs...breaks a leg your on the hook.
As far as cost, I pay $109/year when coupled to my regular insurance for comprehensive, $1M liability in conjunction with my umbrella policy and theft, damage. Deductible is 1K. $600 sounds WAY high.
In my case as long as the trailer is ATTACHED to the truck it is covered for liability, collision, comprehensive etc. under the tow vehicle coverage. Once it is unhooked unless I have the other policy I have NO coverage for anything.
