Trailer Interchange insurance provides Physical Damage insurance for trailers being pulled under a trailer interchange agreement. Some brokers require a trailer interchange agreement in order to haul freight. If this is agreement is a requirement, to be in compliance with the contract, you will need to purchase trailer interchange insurance to protect you while you're in possession of a trailer that you don't own. A trailer interchange agreement is a contract that arranges to transfer a trailer from one trucker to another in order to complete a shipment. Essentially, the coverage provides physical damage insurance for non-owned trailers while under dispatch. The coverage protects you, the motor carrier, if the non-owned trailer you are pulling is damaged by collision, fire, theft, explosion or vandalism. Minus the policy deductible, this endorsement assists in the repair or replacement of the damages. Most insurance companies will only provide this type of coverage if they write the Primary Auto Liability and will require a copy of the complete trailer interchange agreement for their files.

With trailer interchange insurance, you must select both a limit and a deductible. The limit is a stated amount that describes how much your insurance company will pay in the event of a claim. The limit of coverage should be indicated within the contract the broker provides. In most cases, the stated limit is between $20,000 to $30,000 and the deductible would be $1000.

Our agency specializes in Commercial Truck Insurance nationwide, with current markets providing excellent rates for trucking coverage in KY, GA, TN, AL, FL, AR & TX. If you have questions regarding Trailer Interchange we would like to hear from you. Our agency can build a policy to meet the needs of your operation.

Want to save money on Commercial Trucking Insurance? Looking to purchase affordable truck insurance, but need advice? Getting the Cheapest insurance is not always the best answer. Reduce your premiums by being a smart consumer.

Go directly to the source. Contact an insurance agency that specializes in trucking insurance, like Alexander & Alexander, Inc.  A Nationwide trucking agent has more knowledge about the transportation industry and will better understand the needs of your operation.  Some retail agencies have few markets to offer quotes. Select a retailer, like Alexander & Alexander, Inc. that offers multiple companies and outlets to shop out your insurance to get you the best available coverage at the lowest price.

Know your equipment. Research the values of your semi tractor trailer. Knowing the current market value of your vehicle can save you premium dollars. Don’t over insure with a higher stated amount. Physical Damage insurance is generally a calculated by a percentage based on the stated amount you provide on your equipment but claims settlement is based on the actual value at the time of loss. Insure your equipment as close to the actual value as possible to avoid overpayment of premiums.

Loss History. Have your claim reports (Loss Runs) available. Insurance companies will require at least 3 years of loss runs to provide accurate quotes. Having these on hand are beneficial to the applicant and the agent in the submission process as proof of good loss history will present a lower initial quote, in lieu of an estimate based on the future remittance of the reports.   In addition, Loss Runs provide the underwriter with information about the profitability of your operation.

Do you have safe drivers? Does your equipment function properly?  Be sure your safety manager is reviewing your drivers, and your drivers are doing proper pre-trip inspections. Hiring drivers with extensive claim or violation history generally creates issues for the Motor Carrier. Not only with Safety scores, but can increase premiums at renewal or even cause a policy to be non-renewed at expiration. Insurance Companies have regulations regarding the experience and history of applicant drivers. Make sure you review these requirements with your agent and submit drivers for approval prior to hire.

Our company is a retail facility specializing in the unique insurance needs of today’s Motor Carrier. We know the trucking business and are centrally located in the United States. Our operation is licensed in 45 states including Georgia, Tennessee, Florida, Arkansas, Alabama & Texas and we have the top markets for Trucking Insurance available to our clients. Contact our friendly staff today to learn more about saving money on your Transportation Insurance. We specialize in Auto Liability, Motor Truck Cargo, Physical Damage, Non-Trucking (Bob-Tail) Liability, General Liability, Bonds, Workers Compensation, Occupational Accident and more including an Exclusvie market now available for Owner Operators Fleets. Call US Today!  1-800-325-9059