If you work in the tow truck industry, you’ve probably noticed a few changes when it comes to insurance – namely, the cost of your tow truck insurance premium rocketing upwards. As if tow truck insurance wasn’t pricey enough, it’s only gotten worse. The jump in rates has been enough to make more than a few tow truck companies close their doors.
But why is this happening, and why now? Why does it seem like your insurance company is charging you a crazy rate when just last year things were reasonable? There are several reasons for the chaos that is the tow truck insurance industry, and we’ll try to make sense of the changes that have been affecting towing companies around the nation.