There is a common misconception that all auto insurance policies include towing insurance. If you are a tow truck driver, do not assume your vehicle or your workplace activities will be covered by your regular auto insurance policy. Though such a policy might provide a bit of coverage, this coverage will be limited. The bottom line is you need towing insurance. Here’s why.
1. Insurance to Cover Towed Vehicles
Towing insurance, complete with garagekeepers coverage, safeguards you against damage to a client’s vehicle after it is towed. If such a vehicle is damaged while in your custody, care or control, you should not have to pay a single penny for repairs. However, you are likely to be found legally liable for such damages unless you have towing insurance complete with garagekeepers insurance. Obtain tow truck insurance and you will rest easy knowing you won’t be financially liable for repairing damaged vehicles in your custody after being called to tow them.
2. Minimize Legal Liability in the Event of an Accident
Use your mind’s eye to envision a situation in which you tow a vehicle with a flat tire or significant damage only to be struck by another vehicle. If you are involved in such an accident, you need tow truck insurance complete with auto liability insurance. This additional coverage protects you against legal liability in the event you are involved in an accident that causes an injury to another driver or damages their vehicle. Such insurance can even be extended to coverage for bodily injury liability along with property damage liability.
3. Damage Stemming From Daily Work
Take a moment to think about all the work you do in a single day. You are likely quite the busy tow truck driver, especially if you live in an area with a large population or one with few tow truck drivers. Opt for tow truck insurance with garage liability coverage and you will be protected against damages that occur in your daily work.
4. Damage to a Tow Truck
You need your tow truck to make a living. However, tow truck drivers demand a lot from their trucks. If your tow truck is damaged, you will be on the hook for repair costs unless you have physical damage coverage. This coverage makes it easier to repair and replace a tow truck that is involved in an accident or otherwise damaged. Several different physical damage coverage types are available such as comprehensive coverage and collision coverage.
5. Damage to a Client’s Vehicle
Tow enough vehicles and you will eventually find yourself in a situation where one of those vehicles is damaged mid-tow. On-hook coverage is necessary in such situations. Also referred to as in-tow coverage, this insurance covers damage to client vehicles while they are being towed.
6. Insurance for Wrongful Repossession
Those who work in the tow truck business long enough are quick to testify that wrongful repossession occurs more often than most assume. If you or one of the tow truck drivers you employ repossess a vehicle you were not supposed to repossess, you will need tow truck insurance. More specifically, you will need wrongful repossession to protect your company to offset the expenses incurred when mistakenly towing a vehicle.
Contact Tow Truck Insurance Rates Today
Our tow truck insurance specialists are here to ensure you have the insurance necessary to tow vehicles in full confidence. If you drive a tow truck or own a tow truck business, you can benefit from our insurance options. Reach out to us today to learn more about our tow truck insurance and obtain a quote. You can contact us by dialing (770) 203-0138.
