Truckers Pay Too Much For Trailer Insurance
Many truckers carry insurance on their trailers simply because they are financed.
The reality is that the offset of the deductible plus the salvage would cause very few trailer claims to be paid.
There is a new process where insurers will send the finance companies what they need to keep them happy, and it is subject to some internal assurances that you will never put a claim through for All Perils.
This works very well and significantly reduces costs on many policies where trailers are financed.
Many truckers carry insurance on their trailers simply because they are financed.
The reality is that the offset of the deductible plus the salvage would cause very few trailer claims to be paid.
There is a new process where insurers will send the finance companies what they need to keep them happy, and it is subject to some internal assurances that you will never put a claim through for All Perils.
This works very well and significantly reduces costs on many policies where trailers are financed.