How do you insure a tow truck company?
Tow trucks are a big deal. We can help you manage your risks and find the right coverage for your business.
Tow trucks are a big deal. We can help you manage your risks and find the right coverage for your business.
Your business works hard to help other people. Your customers trust you with their cars, but there are a lot of risks that go along with operating a tow truck business. Whether you have a couple of trucks or an entire fleet, we can help you make sure that you’re protected from all the possible disasters that could hit your business. From wreckers to rollbacks, we’ve seen it all.
We want to make the process of insuring your tow truck company as easy and painless as possible, and we want to help you feel more secure knowing that you’ve got the coverage you need.
There are many different types of coverage that you can consider for your company, and we get that it’s overwhelming. Typically, you're looking at needing coverages like:
- Auto liability
- On-hook/in-tow coverage
- Physical damage
- General liability
- Garagekeeper's coverage
A policy for your tow truck insurance might include:
Auto liability
Auto liability protects your business in the event of an accident.
Physical Damage
Physical damage coverage protects you in case of unforeseen disasters (i.e. a storm or deer strike) as well as accidents.
Garagekeepers coverage
Garagekeepers coverage protects you if you keep your client’s cars in your shop or on your premises. Vandalism, theft, collision, and fire are the main risks that it is intended to cover.
On-Hook/In-Tow Coverage
On-hook coverage protects you while you’re transporting a customer’s car. If something were to happen to the car being hauled, such as a collision, you can be covered.
General Liability
This coverage provides protection for the business as a whole in case of bodily or property damage caused to someone else. (Note: this is often required if there is a salvage yard or repair shop)
The minimum recommended coverages are:
- General liability
- Building
- Business Personal Property
- Business Income and extra expense
- Employee dishonesty
- Money and securities
- Accounts receivable
- Computers
- Motor truck cargo
- Valuable papers and records
- Employee benefits
- Umbrella
- Motor carriers liability and physical damages
- Hired and nonownership auto
- Workers compensation
But that’s not all—other types of coverage to consider are…
- Earthquake
- Flood
- Cyber liability
- Employment-related practices
- Environmental impairment
- Warehouse operator’s legal liability
- Stop-gap liability
We’d love to get to know you and your business. You can get in touch with us by completing our Quick Quote form or by calling us today at (877) 341-5728, and we’d be more than happy to talk about the details of insuring your tow truck company. For more details on how much tow truck insurance costs and other questions, be sure to check out our sister blog.
