Do Tow Truck Businesses Need Specialized Insurance Protection?

Every truck used for business needs some sort of specialized truck insurance. The same holds true for tow trucks. The reality is that every tow truck business is unique and there is no one-size-fits-all insurance product that meets the needs of every tow truck business.

However, you will need many of the same truck insurance products all other trucking businesses and operations require as well. That is why it is so important to work with an insurance agency that puts your needs front and center. Below you will find important information about the types of specialized insurance you may need for your tow truck business.

We can help you save on your tow truck insurance.

Standard Truck Insurance Products You May Need for Your Tow Truck Business

These are several of the types of insurance your tow truck business may require that others in your field often need as well. They offer fundamental protection for your business and your commercial vehicles.

  • Business Owner’s Policy. This offers protection for your business in the form of property insurance, general liability insurance, and business interruption coverage.
  • Commercial Auto Insurance. Special protection you’ll want here include liability insurance (bodily injury liability and property damage liability), medical payments insurance, collision and comprehensive insurance, uninsured/underinsured motorist insurance, and umbrella liability insurance.

Of course, there may be other insurance protections that are unique to your business. So you should work with an agency to ensure you have the robust insurance you expect.

Specialized Insurance for Tow Truck Services

If your business is in the business of moving the personal property of others, you need additional insurance protection, beyond that of other types of trucking companies, though. These are a few additional insurance coverages you might want to consider.

  • Garage Liability Insurance. Protects your business from damages that occur during the day-to-day operation of your business.
  • On-Hook or In-Tow Coverage. Provides protection for vehicles in your car while you’re transporting them.
  • Garage Keeper’s Coverage. Protects cars held on your property and under your care from damage that occurs.
  • Wrongful Repo. While you take every step to ensure correct repossessions, this coverage protects your business if you pick up a vehicle you weren’t supposed to.

We can help you save on your tow truck insurance.

This is another golden opportunity to reiterate the importance of umbrella liability insurance for tow truck drivers. The beauty of umbrella liability insurance is that it begins when you’ve maxed out your other existing liability policies to provide additional coverage More importantly, it helps cover your legal expenses if you’re forced to defend your business against false liability claims and accusations. Since tow truck operators are frequent targets in these types of legal actions, additional protection is essential.

Learn more about tow truck business insurance needs and options today. There is nothing on earth quite like the peace of mind that comes with knowing that you have the right insurance coverage to protect your business interests today, and as your business grows. We’re here to help you get that peace of mind and so much more!