Insurance on DIY teardrop?

[Kayaker1971]

My agent said there is no insurance available. I did a search on here and some seem to have gotten insured, but I'm wondering about now in 2016 who has gotten theft insurance etc and with what company?

Thanks!

[mustangcats]

Unfortunately, that is what more and more people are finding out when it comes time to insure their homemade trailer. However, it can be found, and in your case you may end up having to switch agents and companies. You didn't say if your agent is a captive agent (sells for just one company) or an independent agent who sells for many companies. A good independent agent should be able to get coverage for you, so keep looking. Insurance for a trailer is usually put on the auto policy, so you'll need to start there. If you are unable to get insurance anywhere, then you may have to be self insured and cover any losses to the trailer yourself. You will still have liability insurance in case the trailer damages property or injures someone while being towed, since that is extended from the tow vehicle's policy.

[Kayaker1971]

he is independent but that doesnt mean he looked hard enough. Sounds like he checked about three sources and drew the conclusion that diy trailers are not generally covered. I would really prefer to find coverage. maybe someone will chime in with company names, that would help.

also state farm does not write in my state that was one company I saw someone insure their TT with. bummer

[pchast]

In my area I found State Farm would insure a trailer if I changed at least one policy over to their company. However, they would only insure the listed parts used to build the unit. Not the assumed value of the completed piece.

What state are you in?

[mustangcats]

If he's a member of his state's insurance association, he should have access to companies that will write some of the harder to place business. Some agents are lazy and won't take the extra time to do the extra work because the commissions are usually lower when they have to go through a broker (i.e. middleman). There are at least a couple of reasons why homemade trailers are hard to insure. One is liability. If you have a manufactured trailer that comes apart and causes an accident, the insurance company will go after the manufacturer to make them pay for the damages. If it's a homemade trailer that comes apart and causes an accident, then they have no one to subrogate against and they will have to pay the claim...and we all know how much insurance companies don't like to pay claims. They are always looking for someone else to blame. The second issue is determining the market value of a homemade trailer. They can't look up their values the way they can with mass produced trailers. There are probably other reasons why insurance companies don't want to insure homemade trailers, but I think these are two of the biggest ones.

[Kayaker1971]

thanks guys. I am in RI. I only need one policy! hope I can find one for peace of mind when I leave the trailer while attending an event or going into someplace.

[booyah]

In Michigan, they needed the registration, plate and a stated replacement value on the TD. Then they insured it from loss due to theft, accident or other damage, for a very reasonable sum.

this was with state farm