What are the requirements for Trailer Interchange Insurance Coverage?
The minimum limit for trailer interchange coverage should be at least enough to repair or replace a damaged trailer.
Trailer Interchange Insurance Coverage applies in certain situations and you must qualify for this coverage. To qualify:
- Trailer needs to be in the insured’s possession at the time of coverage (Insured would have a Trailer Interchange Agreement)
- Trailer owner must have a liability insurance policy to cover damage or theft of the cargo
- Can only be available for tractors and pickups
- There must be one trailer insured for each tractor or pickup
- Note: Trailer interchange coverage is not currently valid in the state of Virginia (an additional insurance rider is recommended if going through this state)