Stationary travel trailers are typically parked permanently in one spot and used as full-time or part-time residences. Insuring your stationary travel trailer can get tricky since a typical homeowner or auto policy doesn’t provide comprehensive coverage for your trailer. This blog will cover your options for stationary travel trailer insurance and whether or not you need it.
Alliance Insurance of the Rockies works with Colorado homeowners, renters, and full-time RV-ers to help protect their most valuable assets. As an insurance broker in Colorado Springs, we have access to various plans from the best insurance providers nationwide. Working with a reputable insurance broker can help you get the coverage you need at a rate that fits your budget.
Travel Trailer Vs. RV Insurance
Typically insurance providers will classify travel trailer insurance as RV insurance. While coverage options are quite similar, RVs are subject to different insurance laws since they are motorized vehicles.
With an RV, you must carry liability coverage, just like you would with a car. If you own a travel trailer, however, the liability coverage on your auto policy covers your trailer as well. Auto liability coverage ONLY covers costs related to an accident you are at fault for, such as injuries to others, property damage, or legal fees.
If you want to insure your trailer against theft or damage or want liability coverage in case someone is injured in your parked travel trailer, this requires a separate policy.
Travel Trailer Insurance Requirements
Travel trailer insurance requirements vary from state to state, so check with your local insurance laws.
In most states, travel trailers are covered under your auto policy. As long as the vehicle towing your trailer has adequate coverage, you have met the legal requirement. In Colorado, the minimum amount of liability coverage for an auto policy is $25,000 per person and $50,000 per accident.
So essentially, there are no insurance requirements for your stationery travel trailer. If you financed your travel trailer, however, your lender can require you to purchase a comprehensive policy to protect their investment.
Do I Need Insurance for a Travel Trailer?
Though travel trailer insurance isn’t required by law, it’s still a good way to protect your investment, especially if you live in your trailer for at least part of the year. Similar to homeowners insurance, travel trailer insurance covers the cost to repair or replace your trailer if it’s damaged in a covered event, such as a fire or flood.
You can also purchase coverage for the contents of your trailer, which is especially important for full-timers who carry most of their belongings with them. Essentially, if you can’t comfortably afford to replace your trailer and its contents with what’s in your bank account, you should probably purchase travel trailer insurance.
What Does Travel Trailer Insurance Cover?
Travel trailer insurance typically covers:
- Collision coverage in case your trailer is damaged in an accident.
- Comprehensive coverage for damages not caused by another vehicle.
- Liability coverage in case someone is injured while on your property.
- Medical payments if you or someone else is injured while inside the trailer.
- Personal effects coverage for items like electronics, tools, and clothing.
- Emergency expenses, such as a hotel room, if your trailer becomes uninhabitable.
A qualified insurance broker can help you find a plan that makes sense for your situation, so you only pay for what you need. A stationary travel trailer, for example, won’t need collision coverage.
Average Cost of Travel Trailer Insurance
The average cost of travel trailer insurance can vary widely based on how you use your trailer and what coverage you need. Progressive, one of the carriers we work with at Alliance Insurance of the Rockies, states that the average premium for travel trailer insurance is $502 per year.
Full-timers’ insurance rates might be higher since you’ll want some of the protections that typically come with a homeowners’ policy. However, you can cut things like roadside assistance and collision coverage for a stationary travel trailer to bring down your premium. A good insurance broker can help you compare policies from different carriers to ensure you get the best rate.
Travel Trailer Insurance Providers
At Alliance Insurance of the Rockies, we work with multiple carriers to help you find the best travel trailer insurance policy. Some of the companies we work with include:
- Progressive
- Travelers
- Nationwide
- Foremost
- Safeco
We understand that everyone’s needs are different when it comes to protecting their investment in a stationary travel trailer. That’s why we’ll always take the time to explain your options and answer any questions you may have.
Get a Travel Trailer Insurance Quote
If you’re in the market for travel trailer insurance in Colorado, contact us today. Our friendly staff will help you find the perfect policy to fit your needs and ensure you’re protected on all your adventures. Get a no-obligation quote so you can make the best decision for your investment.
