Replacement Trailer

Replacement Trailer

Commercial Truck Insurance: Understanding Trailer Interchange Insurance

Many commercial truck drivers, especially independent owner/operators, do not own the trailers they pull—there is rarely any real need to own your own trailer if you work as an independent.

This type of arrangement can make truck insurance for trailers a bit confusing.

Truckers also frequently haul trailers that are owned by other truckers. This is often done through an exchange of trailers that are in different locations to facilitate scheduling.  

These trailers are traded under contracts known as trailer interchange agreements—if you operate with agreements like these, it's important to know there are both short and long-term commercial truck insurance options available to cover them.

Trailer Interchange

Drivers and commercial shipping companies exchange trailers to save on fuel and other costs as part of an agreement between them.  Typically, this leads to jobs being finished faster and more efficiently.

A trailer interchange agreement makes the trucker who has possession of the trailer responsible for any damage to the trailer.  Because of instances like this, it may be necessary to purchase a separate insurance policy, known as trailer interchange insurance.

Trailer Interchange Insurance

This type of commercial truck insurance ensures that independents and large companies alike are covered when making interchange agreements with other companies or operators.  It covers the driver or company in the event of an accident or damage to the other company or driver's goods.  

For example, if you exchange trailers with another driver and your truck is stolen, your own comprehensive coverage will not cover the cost to replace the lost cargo or the trailer.

Trailer interchange insurance is especially recommended for independent owner/operators because the cost of repairing or replacing another driver's trailer can be astronomical, and you want to be sure you are fully covered in such an event.

About the Author

Patrick Winchester is a freelance writer with commercial truck insurance expertise.  Need to save on truck insurance while keeping legit coverage? Visit http://royaltytruckinsurance.com

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Book trailer #2 for The Replacement by Brenna Yovanoff