How much is trailer interchange value?

The average limit for trailer interchange coverage is between $20,000 and $30,000, with a deductible of $1,000. To select the right limit, you'll need to know the trailer's actual cash value. The insurance company will only pay out the value of the trailer in the event of a total loss, not the policy maximum.

What is trailer interchange agreement?

A trailer interchange agreement is a contract that arranges to transfer a trailer from one trucker to another to complete a shipment. Typically, the trucker in possession of the trailer is responsible for paying any damages that are incurred while they have the trailer.

What is a carrier interchange agreement?

An interchange agreement is between trucking companies wherein Company A has possession of Company B's trailer or equipment and agrees to be responsible for loss to such while in A's possession.

What is the purpose of a trailer interchange agreement?

A trailer interchange agreement is a contract that arranges to transfer a trailer from one trucker to another to complete a shipment. Typically, the trucker in possession of the trailer is responsible for paying any damages that are incurred while they have the trailer.

What is the difference between trailer interchange and non-owned trailer?

Trailer Interchange (TI) Trailer interchange extends to damage(s) while the non-owned trailer is in your care, custody, or control but requires a written agreement between your company and the owner of the trailer to be in force.

What is the difference between trailer interchange and non-owned trailer coverage?

Trailer Interchange (TI) Trailer interchange extends to damage(s) while the non-owned trailer is in your care, custody, or control but requires a written agreement between your company and the owner of the trailer to be in force.

Is trailer interchange the same as cargo insurance?

Is trailer interchange the same as cargo insurance? Trailer interchange coverage is not the same as cargo insurance. While trailer interchange coverage protects carriers if a non-owned trailer is damaged while in their possession, cargo insurance covers the cargo they are transporting.

What does a motor carrier agree to in a trailer interchange agreement?

A trailer interchange agreement makes the motor carrier the trucker hauling the trailer responsible for any physical damage to the trailer. Businesses involved in trailer interchange agreements may require those truckers to have trailer interchange insurance.

Get Trailer Interchange Agreement 2004-2024

Agreement, insurance coverage for owned and hired automobile liability including bodily injury and property damage, with coverage of at least $1,000,000.00 combined single limit or the equivalent. (b) User agrees to maintain for the duration of this Agreement, insurance coverage for physical damage insurance for loss or damage to Equipment while in the care, custody and/or control of the User. Such coverage may be written on an actual cash value basis per unit, but in no event less than $20,00.

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