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trailer interchange insurance

A type of coverage available under either the truckers or the motor carrier policy form that covers the insured's legal liability for damage to the trailers of others. Coverage is also available, by endorsement, under the business auto policy (BAP). Motor carriers frequently haul trailers that are owned by other motor carriers. This is often done through a "trade" of trailers that are in different locations to facilitate scheduling. A trailer interchange agreement makes the motor carrier that has possession of the trailer responsible for any damage to the trailer, whether or not the trailer is attached to the tractor. See also Motor carrier policy; Truckers policy.


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