by Nate Jones, CPCU, ARM, CLCS, AU - Wexford Insurance - Indianapolis, IN
Tow Truck operations need to have insurance for their business. Wether your tow truck operation has 1 truck or a fleet of trucks, having a comprehensive insurance program is one of the most important aspects of staying in business when an accident occurs. Why do you need Tow Truck Insurance:
To cover your clients auto while being towed by your company. You are liability for the clients while the auto is in your custody and control.
Types of Insurance Coverages that Tow Truck Companies usually need:
Towing General Liability
Business Auto Liability - Tow Truck Liability - Commercial Auto Liability
Medical Payments
Physical Damage Insurance - Collision Insurance - Comprehensive Insurance
Fire and Theft Coverage
Uninsured Motorists Insurance - Underinsured Motorists Insurance
Property Insurance - Tow Truck Shop Insurance
Garage keepers Insurance - If you are storing customers vehicles after tow.
Towing Workers Compensation Insurance
Required Tow Truck Liability Limits:
Tow Truck Gross Vehicle Weight: 40,000+ - Must have at least $300K of Liability Coverage
Tow Truck Gross Vehicle Weight: 35,000 - 39,999 - Must have at least $100K of Liability Coverage
Tow Truck Gross Vehicle Weight: Less than 35,000 - Must have at least $50K of Liability Coverage
Required Garage Keepers Insurance
Tow Truck companies must cover at least $50K in Garage Keepers Insurance covering the following and more: Fire, Theft of Vehicle, Explosion, Riot, Civil Commotion, and vandalism.
Types of Tow Truck Companies we insure:
Flatbed Tow Truck Insurance
Hook and Chain Tow Truck Insurance
Wheel-Lift Tow Truck Insurance
Boom Truck Insurance
Integrated Tow Truck Insurance
NEED A QUOTE TODAY? Call us at 317-910-9295 Guaranteed we will answer on the first call or call you back within 30 minutes. or request a trucking insurance quote below: