(b) the power to operate. Carriers involved in connecting traffic must be registered with the Secretary in order to ensure the carriage of goods at the point where physical exchanges take place. The simple answer is yes – if your truck operation regularly involves another person`s trailer. Trailer Interchange Coverage and non-Owned Trailer Coverage offers protection if you have care, conservation and control of one or more trailers; whether or not they are attached to your truck. It is not yet known if your situation will require the additional costs? Eliminate any doubt and contact your trusted insurance partner today! Another company may acquire material damage to a trailer not in possession, which applies even if there is no written trailer exchange contract for transport. In the complex world of intergovernmental shipping logistics, a Trailer Interchange Agreement is a contract that covers the transport of goods on their way to their destination when they are transported by truck drivers working for different companies. There are so many nuances in the truck industry that it can be difficult to determine what types of coverage are needed for a carrier and which are optional. Many of these coverage decisions depend on the types of contracts used by a particular truck or carrier. Some policies are covered by standard heavy goods vehicle liability insurance, but others require additional coverage. The trailer change coverage limit varies by insurance agency, but should at least be sufficient to repair or replace a damaged trailer. In case of total damage, the insurance only pays the current value of the trailer, so it is not always necessary to obtain the highest limit available. A trailer interchange agreement holds the engine – the trucker pulling the trailer – responsible for any physical damage to the trailer.
Companies participating in a trailer interchange agreement may require that those pulling the trailer have trailer interchange insurance. This type of insurance covers physical damage that can be caused to the trailer while it is pulled by a party that does not own that supporter. Coverage covers the truck driver who belongs to the trailer and covers damage caused by fire, theft, vandalism or collision. The policy has a deductible and has limits on the amount of damage that is covered. A trailer can be changed between several companies and drivers while crossing the country. Trailer interchange agreements make the process easier and more efficient, as not a single truck driver needs to travel the entire journey. Depending on the limit and deductible you choose, your trailer exchange coverage should add between 100 and 1500 $US per year to your total insurance cost. Some of the factors that affect the amount you pay include your loss history, location, device value, and driving record. The average limit to cover the exchange of trailers is between US$20,000 and US$30,000 with a deductible of US$1,000….