insurance coverage

[Sofa King]

what all do you guys have for coverage on your boat trailers?

I have third party liability extension to $1,000,000.
is there really any need for that?
would my vehicle's insurance not cover certain things in the event of an accident?

and what is "vehicle licence fee"?
I'm guessing it's basically just a charge that gets applied to everything for using the roads.

[BearStump]

IIRC the liability is incase the trailer becomes dissconnected from your truck for some reason. It DOES happen. and when your trailer smacks into a parked car on the side of the road or a anything for that matter you're covered. (up to 1mil.)

[Sofa King]

I dig some digging, couldn't find any info help one icbc site.
but, it seems that the "vehicle licence fee" goes toward road infrastructure and maintenance and is calculated on the GVW of the vehicle.
even though it is called "vehicle" I guess they just umbrella anything that gets insured and travels on the roads.
but does icbc really put money toward road maintenance?

[itsy bitsy xj]

IIRC the liability is incase the trailer becomes dissconnected from your truck for some reason. It DOES happen. and when your trailer smacks into a parked car on the side of the road or a anything for that matter you're covered. (up to 1mil.)

You are totally right on that

[Sofa King]

IIRC the liability is incase the trailer becomes dissconnected from your truck for some reason. It DOES happen. and when your trailer smacks into a parked car on the side of the road or a anything for that matter you're covered. (up to 1mil.)

not too many Bugatti veyrons where I drive.

[itsy bitsy xj]

IIRC the liability is incase the trailer becomes dissconnected from your truck for some reason. It DOES happen. and when your trailer smacks into a parked car on the side of the road or a anything for that matter you're covered. (up to 1mil.)

not too many Bugatti veyrons where I drive.
But if you hurt a person the settlement could be large

[Sofa King]

very true.
I guess the coverage is really for a "what if".

weird though.
in the Yukon, anything you tow is on the vehicle's insurance.
nice thing about that, is that if someone borrows your shit, it now is truly their responsibility and someone else's actions won't screw an innocent person.

[BearStump]

IIRC the liability is incase the trailer becomes dissconnected from your truck for some reason. It DOES happen. and when your trailer smacks into a parked car on the side of the road or a anything for that matter you're covered. (up to 1mil.)

not too many Bugatti veyrons where I drive.
I'm sure there isn't but it aint gonna be cheap if the trailer hitch fails and the trailer with boat careens across a meridian of the Coquihalla and kills a family in a minivan going the other way. What if............1 mil doesnt even seem like enough for some what if's.

[BearStump]

very true.
I guess the coverage is really for a "what if".

weird though.
in the Yukon, anything you tow is on the vehicle's insurance.
nice thing about that, is that if someone borrows your shit, it now is truly their responsibility and someone else's actions won't screw an innocent person.

isn't it like that in Alberta too. I think you just plate the trailer and the tow vehicle will provide the insurance.

[aggiehunter]

sorry but your all wrong....the only time liability on a trailer comes into effect is when it does something on it's own..ie. rolls away. The liability while in tow lies under the towing vehicles liability..as....a trailer cannot get there without a tow vehicle. The base liability is $200,000 and you can keep that on your trailer and save 8 or 9 bucks.

[aggiehunter]

ps Bearstump was right....

[itsy bitsy xj]

sorry but your all wrong....the only time liability on a trailer comes into effect is when it does something on it's own..ie. rolls away. The liability while in tow lies under the towing vehicles liability..as....a trailer cannot get there without a tow vehicle. The base liability is $200,000 and you can keep that on your trailer and save 8 or 9 bucks.


Maybe you should re-read what has been said alreasy! IF THE TRAILER COMES DISCONNENTED THE TRAILER INSURENCE COVERS WHAT IT HITS!

[MB_Boy]

very true.
I guess the coverage is really for a "what if"

Yup....pretty much sums up all insurance :wink:; some you're forced to pay for and some are your call. :wink:

[Piperdown]

1 million liability wouldn't even buy MB's parking space :) I have 3 million, in todays world you can eat up 1 million pretty fast.

[Sunzuki]

I.C.B.C. funding has been put into general coffers.
Dang gubbmint is stealing again.
The rates should be going down, but the rainbow they did find
and are using surplus revenues.
Cussing words ............................

[MB_Boy]

1 million liability wouldn't even buy MB's parking space :) I have 3 million, in todays world you can eat up 1 million pretty fast.

Hahahahaha.

[aggiehunter]

itsy bitsy...I can certainly re-read uit...but it still doesn't make the comments correct....if your referring to the own damage on the trailer then yes it is covered...liability is extended from the towing vehicle while in tow..nobody was referring to collision however.

[Sofa King]

well, my boat is small and so is the trailer.
they have almost no weight to them and wouldnt hardly hurt anything if they became seperated from the truck.
which is almost next to impossible, and even then, if it did somehow, the odds of it happening around anything else are that much more astronomical. (for me anyway, im not travelling through populated areas)

something else i just realized.
ive never put theft on my trailers.
never saw the point if they are only worth a couple hundred dollars anyway.
and theft on the trailer wouldnt cover the boat anyway, right?

[Iron Glove]

well, my boat is small and so is the trailer.
they have almost no weight to them and wouldnt hardly hurt anything if they became seperated from the truck.
which is almost next to impossible, and even then, if it did somehow, the odds of it happening around anything else are that much more astronomical. (for me anyway, im not travelling through populated areas)

something else i just realized.
ive never put theft on my trailers.
never saw the point if they are only worth a couple hundred dollars anyway.
and theft on the trailer wouldnt cover the boat anyway, right?

Might be interesting if the trailer broke loose from the truck then the boat flipped off the trailer and whacked a car following causing it to go off the road killing all in the car.
Hmm, Truck liability, trailer liability, boat liability ????
No, theft of the trailer will not cover theft of the boat.
Many homeowner's policies have some coverage for small trailers ( mine has up to $1,500 ) and virtually all homeowner's policies provide theft coverage for small boats. Check your policies or call your Broker.

[Sofa King]

sure, a freak occurance can happen.
im just saying the odds are pretty slim with my situation.
a small boat and trailer, no weight so very little stress on the hitch.
plus, i double heavy chain it to the truck, as well as a fullsize ball and hitch that is also always locked on as well.
and im kinda ocd in always double and triple checking things, so theres never any chance of carelessly hooking it up and hitting the road, like most of those happenings would surely be.
im not saying the coverage isnt necessary, i have it and will keep it.

[BRvalley]

1 million liability wouldn't even buy MB's parking space :) I have 3 million, in todays world you can eat up 1 million pretty fast.


I've wondered about this before, somebody told me that ICBC has very rarely ever paid larger than 1mil on a settlement, not sure I believe that or not, it's hard to believe....but it's not an easy statistic to research

[Iron Glove]

I've wondered about this before, somebody told me that ICBC has very rarely ever paid larger than 1mil on a settlement, not sure I believe that or not, it's hard to believe....but it's not an easy statistic to research

Agree -it's all a playing the odds game.
Example - how many people in BC have ever had an Earthquake claim?
But a very high % of BC'ers buy the insurance.

[dryflyguy57]

I've wondered about this before, somebody told me that ICBC has very rarely ever paid larger than 1mil on a settlement, not sure I believe that or not, it's hard to believe....but it's not an easy statistic to researchIf you were sued for $3,000,000 in a civil case and had only $1,000,000 coverage and lost you would pay the difference . Correct ? I have been getting $5,000,000 the last couple of years as I was told by the broker that there have been some whoppper payouts . The case he used was in the lower mainland where a new driver rolled his dad's car and killed his buddy who was 19 . The courts worked it out by the potential earning power of the buddy . $100,000 times 46 years , basically his earning years , indexed for inflation and dad was on the hook for the difference .