If you have a tow truck business that does repo you know that your line of work comes with lots of risks – there are the incidental risks of driving and towing, of course, but there are also risks specific to repo that you’re exposed to every time you go on a job. And that’s why it’s so important to get the right tow truck insurance for your repo business. But how much does repo insurance cost? We’ll explain what wrongful repo insurance is and how much insurance for a repo business costs.
You’re probably not the biggest fan of tow truck insurance. We get that – tow truck insurance can get complicated with all of the coverages out there. And, well, towing insurance isn’t exactly cheap. However, it’s a necessary thing. You can’t avoid your insurance renewal every year. Now, you might be dreading your renewal because your rates could go up. Or maybe you’re wondering what the big deal about your renewal is. Anyways, we’ll explain what a renewal is and give you three strategies to keep your insurance rates from skyrocketing.
We’ve all passed accidents on the side of the road where a car has rear-ended the car in front of them. Smooshed hood, squashed back bumper. But if you’re driving a tow truck, rear-end collisions are often pretty serious.
And rear-end collisions also have had a major effect on tow truck insurance rates.
We’ll explain the prevalence of rear-end accidents, why they can affect the price of tow truck insurance, and steps you and your drivers can take to prevent rear-end collisions.
To start, we’re going to look at some numbers.
As a tow truck driver, there’s a lot of pressure to hustle on the job so you can haul as many cars as possible. You don’t want the customer to have to wait a long time for you, and when you finally get to the car that needs to be towed you may feel the need to get the car to where it has to go as soon as possible. There may even be the temptation to speed and push the speed limit. However, speeding comes with a lot of risks. It can cause car accidents and can even have a negative effect on your tow truck insurance rates. We’ll go over the dangers of speeding.
As a tow truck driver, it’s essential to be as prepared as possible for anything. Things can change on the road in the blink of an eye. You’re not alone on the streets, so you have to pay attention to what other drivers are doing. Caution is a must – driving is dangerous. Defensive driving can help you avoid getting into an accident, which can help you save money on your tow truck insurance rates. (And that’s helpful because tow truck insurance rates have been increasing.) We’ll explain the three aspects of defensive driving and how it can help you avoid accidents.
Towing cars isn’t always an easy job. There’s a lot of responsibility associated with transporting someone else’s car, and so safety is absolutely paramount for tow truck companies. You might have a good record for your business with few accidents, tickets, or losses, but it’s still important to do everything you can to establish high safety standards for your company (and besides, it can help you save money on your tow truck insurance rates.) That being said, here are a few ways you can boost safety at your tow truck business.
You might have heard that tow truck insurance rates are on the rise. Many tow truck insurance carriers have backed away from covering tow truck businesses because they think they’re too risky. That has led to many tow truck businesses getting their insurance nonrenewed, while others have seen huge rate increases. As a result, you may be wanting to save money on your tow truck insurance rates by getting cheap tow truck insurance. We’ve got some tips to help you save some money on your rates.
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.
No two businesses are the same. This is especially true when it comes to tow trucks. Your business, whether it’s a tow-truck company or an auto shop, has its own fingerprint, and this fingerprint plays a large part in deciding what kind of insurance you need. And once you find the right coverage for you, there are lots of different factors that go into determining the cost of your insurance premium.
To take some of the mystery out of your insurance rates, here are some details about your business that will impact your premium: