4 Types of Coverage You Need for Your Tow Truck

There’s some things you can’t predict or prevent. That’s why all drivers need roadside assistance from time to time. The increasing need for roadside assistance is what makes the tow truck industry so sustainable and lucrative.

However, there’s no denying the industry’s obvious risks. In fact, the towing sector is one of the riskiest businesses out there. From property damage to bodily injury, your fleet needs quality insurance coverage to avoid financial loss and to protect the business, clients, and drivers.

In this article, we will discuss four important insurance coverages you need for your tow truck.

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Common Mistakes When Purchasing Tow Truck Insurance

tow truck hauling wrecked vehicle

Insurance coverage is essential for larger vehicles and especially tow trucks. With so many options at your disposal, it can feel a little overwhelming. The insurance costs tend to be very high due to the risks involved in the towing industry. The injury and accident rate is quite high, to say the least. Here are a few mistakes that you should avoid when choosing your tow truck insurance.

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Ways to Save on Tow Truck Insurance

tower loading a car

Reducing your tow truck insurance is different from lowering your personal vehicle premium. After all, your personal car isn’t involved in risky activities like tow trucks are.

Put simply; tow truck insurance is typically higher compared to that of private cars and delivery vans. And because a tow truck comes in contact with other trucks by design, its liability is trickier. Towers have to operate large trucks hauling broken down vehicles; therefore, they’re responsible for transporting them safely to the desired location. Insuring the towing business can be risky and expensive due to accidents and rising claims.

Fortunately, you can rely on certain savings tips to reduce your tow truck insurance. Keep on reading to learn more.

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3 Commonly Asked Questions Regarding Tow Truck Insurance

An insurance policy for a tow truck business often includes liability coverages for personal injuries, property, and other damages. Moreover, a tow truck insurance policy offers comprehensive coverage for collision, fire, and theft. If you run a business that deals with trucks or heavy vehicles, you might have questions regarding insuring them. For a new trucker, understanding the tow truck insurance policy is a little overwhelming.

Don’ fret if you don’t know how to go about it. Here, we’ve listed the top three common questions regarding tow truck insurance.

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87% of Tow Companies in Georgia Don’t Meet the Legal Requirements to Operate

Did you know that 87 percent of tow companies in Georgia fail to meet official requirements? According to a recent survey done by the Insurance Risk Services of Georgia, many towers lack accountability and the proper training to operate.

The main reason for this high number is the state’s lack of supervision over the towing industry. Also, many tow company owners are failing to properly train and educate their drivers.

In this article we will discuss Georgia’s legal requirements when it comes to towing.

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How to Save on Tow Truck Insurance

Hazards aren’t unexpected in the towing industry. They may vary from inclement weather injury when towing a wrecked car to possibly getting struck on the side of the road. There may be more unique risks associated with vehicle towing services. That is to say, it is nearly impossible to operate or run a tow truck service without insurance. Here is everything you need to know about how to save on tow truck insurance.

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6 Types of Insurance You Need for Your Towing Business

While a tow truck service protects the cars of other people, you might wonder who protects the trucks and drivers of the actual towing business.

The answer is, insurance companies. If you’re a trucker or run a fleet, purchasing insurance for your tow truck business would be an ideal way to add protection. While buying insurance can be an easy process, finding the right policy for your trucking business is enough to overwhelm you.

We say this because there is no insurance policy specifically designed for the tow truck business. However, there are many options you can select to make one comprehensive policy to provide your business with the coverage it needs.

Don’t fret if you have no idea how to go about it. Here we’ve enlisted six types of insurance that you can use to protect your trucks and drivers.

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What to Do if You Need Your Car Towed

Speeding can have major consequences for your tow truck insurance rates.

Collisions and accidents are fairly common when you drive. In scenarios like these you often need to have your car towed to a mechanic or repair shop.  While the option seems convenient and easy to solve the problem, it is essential to know what you should look out for when your tow truck arrives.

Fortunately, there are steps that can help you avoid any sticky situation when you have your car towed.  Here is a rundown of what you need to know if you ever need your vehicle towed.

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If I Need a Transmission Repair for My Tow Truck, Does My Insurance Cover This?

If you drive a tow truck, you understand that you have to take care of it. No-brainer.

You have to rotate the tires, change the oil, and make sure that you get other parts of your truck maintained on time. If your tow truck requires repairs, some could be expensive. For example, if you find that your tow truck has a faulty transmission, you may be wondering how you are going to cover the cost of this repair. Is this going to be covered by your insurance policy? There are several points you should understand.

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