Trailer interchange insurance is crucial for truckers who haul trailers belonging to someone else under a written trailer interchange agreement. Here's what you need to know about trailer interchange insurance:

Definition: Trailer interchange insurance covers damage to a non-owned trailer under your care while you're operating under a written trailer interchange agreement. It protects trailers from wrecks, fire, theft, vandalism, and other physical damage during loading, unloading, and transport.

Coverage Details:

• Covers trailers you use under a written trailer interchange agreement.

• Protects trailers from various types of physical damage.

• Required by many shippers and motor carriers for doing business.

Cost: Trailer interchange coverage typically adds between $100 and $1500 per year to your insurance cost, depending on factors like coverage limit, deductible, loss history, location, equipment value, and driving record.

Limit Requirements: The average limit for trailer interchange coverage ranges from $20,000 to $30,000, with a deductible usually around $1,000. It's essential to select a limit based on the trailer's actual cash value to avoid over- or under-insuring.

Who Needs It:

• Intermodal truckers

• Power-only drivers pulling loadout trailers

• Leased operators

• Independent owner-operators using trailer interchange agreements

What to Look for in an Agent:

• Quick response and ability to add trailers to your policy promptly.

• Knowledge of trailer exchange and ability to advise on appropriate coverage.

• Understanding of non-owned trailer insurance and its differences from trailer interchange coverage.

• Ability to bundle coverage for potential cost savings.

UIIA Equipment Provider Requirements: UIIA equipment providers have specific insurance limit requirements for drivers working with them. Ensure your coverage meets these requirements, with most providers requiring at least $25,000 in coverage.

Trailer interchange insurance is essential for truckers involved in trailer exchange agreements, ensuring they're adequately protected while hauling non-owned trailers.

Required Trailer Interchange Limits by UIIA Equipment Provider

UIIA equipment provider members have hard and fast requirements for drivers who work with them. The following information has been provided by the UIIA website. It should be noted that only two equipment providers require a limit of more than $25,000. So if you have at least that amount of coverage, you should be good.

Commercial Trucking Insurance Guide