Is a Trailer Covered Under Homeowners Theft Insurance?

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Some homeowners insurance topics are cut and dried. If your house burns down in a fire you didn't set, your insurance company will pay out. If your house burns down in a fire you set on purpose, it won't. Other areas -- such as what happens when a trailer parked on your property is stolen -- aren't as clear cut in the public eye. However, your individual homeowner's insurance policy will spell out in black and white whether or not it's covered.

What Homeowners Insurance Covers

Homeowners insurance policies differ from company to company, and between products offered by the same company. Typical homeowners policies usually cover damage to structures and property kept in the structures, if that damage is caused by fire, lightning, windstorm, hail, explosions, crime, vehicles or extreme heat or cold. They also typically include liability insurance that protects a policyholder who is sued due to something happening on his land.

What It Doesn't

Homeowners policies don't cover damage from certain natural catastrophes -- most commonly flood and earthquake -- or damage you cause intentionally. They also don't cover vehicles you own and store on your property. Since a trailer is a vehicle, a stolen trailer is not usually covered by your homeowner's policy.

Recreational Vehicle Insurance

To protect yourself from financial loss if your trailer gets stolen, the best plan is usually to insure the trailer under a recreational vehicle policy. In most cases, the company that provides your auto and homeowners policy will also offer this kind of account. Get a comprehensive policy, as a simple collision or damage policy doesn't protect against theft.

Liability Coverage

One exception to this is if somebody else owns the trailer that is stolen from your property. If that person sues you over the theft -- which he can, even though you weren't the one who stole it -- your homeowner's policy will usually pay for the damages he wins, or might settle out of court if he files a claim. This is because of the liability insurance coverage in your policy, not because the policy actually covers the theft of a trailer.

Your Insurance Contract

All of the preceding information is about the typical rules under customary policies. Some or all of it might differ from the actual conditions of a policy offered to you by an insurance company. Always review the specifics of any policy you buy, to make sure you understand exactly what is and isn't covered.

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