Power Only,LDOT trailers….how are they insured?

I'm assuming you have or are obtaining your own authority. I'm not sure what a LDOT trailer is?

If you're running power only pulling a trailer someone else owns (not a rental) you need trailer exchange on your policy. I have a $30k 1 trailer (I can't pull doubles or trains w/o a policy change) policy. It's like $550/year.

 

What glock said, some companies call it trailer interchange insurance. What ever your insurance calls it it still has to be on your policy.

 

You're right it's interchange not exchange. I had a senior moment.

 

My policy calls it ,non-owned trailers.

 

load out trailer is an other gimmick,,broker takes more off the top or cuts the rate for moving a trailer,,you will be responsible for the cargo ie: trailer and what ever you load in it

 

Actually, a load-out trailer move should be covered by your cargo insurance. I had to add "motor vehicles" as a covered commodity, and make up a BOL for the trailer. I also elected to bump my cargo limit to $150k to cover the cost of a trailer hauled as cargo, while still leaving at least $100k for the crap inside.

I also have non-owned trailer coverage. That's for when you use someone else's trailer to haul their load. For example, Perdue Farms product inside one of their trailers. You state a physical damage limit and it also gets added to your vehicle liability. Cargo carries over to it, along with our reefer breakdown coverage. You issue a certificate to the owner of the trailers you're hauling to show that you have their equipment covered.

Trailer interchange is an altogether different animal. It's normally used in case you are routinely swapping trailers with another carrier. It covers the trailer as long as it's in your control, whether or not it's attached to a truck at the time of a claim. This isn't what you need, and your agent will likely steer you away from it. I can't remember the details, but I recall there being some supporting paperwork needed to obtain this type of coverage. Like a separate contract you have with the owner of the other trailers you're swapping with.

 

Not exactly. The trailer itself is cargo if it is on a BOL and being transported for hire. Doesn't matter if the wheels are on the ground or not.

For example: you haul a trailer somewhere for customer A, and load it with product from customer B during the move. Or maybe just a stack of new flatbed trailers. The one on the road is also listed on the BOL with the rest stacked on top of it. Somewhere on the trip you suffer a total loss, maybe it's stolen or burns to the ground. It will pay out under your cargo coverage.

 

I have never needed to claim a loss in that case, so there is that. What I'm saying is based on my own experience. I was offered to move a trailer for a customer. I planned to also book a load with another customer to carry in it as well. I asked my insurance agent before doing it. He checked with the underwriter (Northland). They said physical damage was covered as cargo, and that I would have to add "motor vehicles" as a covered commodity.

I guess the moral of the story is: Ask before you do it, get it in writing, and you won't know for sure until you have a loss and try to claim it.