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| I think your inclination is correct. Autos belong on an auto policy.
Aside from the valuation issue, the bigger issue imo is liability. A farm liability policy doesn’t extend coverage to vehicles designed to be licensed for road use. Semi trailers need their own specific liability coverage if you are talking about a commercial auto policy like many farm carriers use.
I have an example based on an actual claim. Farm employee hooks up semi trailer to semi tractor and pulls out of the driveway after dark. Apparently, he was in a hurry a missed a step. Just as he is about to complete his turn onto the road the trailer comes unhooked and pulls out the air and electric while stretched across the road. Shortly thereafter there were three kids without a father because he didn’t see the trailer on the dark road. At the time of the accident there is no towing vehicle attached to the trailer.
Anyway, my point is to not get distracted by a few thousand dollars. Focus on having your insurance in place for those things that can put you out of business. The rest is a minor irritation. If I were in your shoes I would pay the higher premium to keep my semi trailers on an auto policy. If you decide not to I would ask the agent to put his thoughts in writing and keep that for documentation. | |
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Trailer insurance vs machinery insurance odd question
