Why you need physical damage coverage for your tow truck business

Tow truck insurance isn’t only for when you or one of your drivers gets into an accident. There are plenty of other scenarios that it can protect you from. One type of insurance that’s worth talking about is physical damage coverage. We’ll go over what physical damage insurance is, what it covers, when you would need it, and how much physical damage insurance for tow trucks costs.

What is physical damage coverage?

Physical damage coverage is basically the insurance that will pay to get your tow truck or wrecker back on the road as quickly as possible if it gets damaged. Tow trucks are really expensive, and they’re really expensive to repair if significant damage is caused. Tow trucks are your livelihood, and it’s important that you have the means to get your fleet back to its full capability ASAP following an accident or other damage.

What will physical damage insurance cover?

Physical damage coverage helps pay for the damage to your tow truck if you or one of your drivers is in a car accident. Your auto liability insurance helps pay for the damage to the other driver’s car and to the other driver and your on-hook/in-tow coverage helps take care of a car that’s being towed, but what about the repairs to your tow truck? That’s why physical damage coverage is important. It can also protect you from damages to your tow trucks that aren’t caused by a car accident.

We can help you save on your tow truck insurance.

When would I need physical damage insurance?

As we said, physical damage coverage can help you get your tow truck repaired and back on the road following an accident. So, if you accidentally rear-end someone and cause some damage to your wrecker, collision coverage could help you take care of the repairs and get that truck ready to roll again quickly. But that’s not all that it will do.

Physical damage insurance also typically includes comprehensive coverage. Comprehensive coverage can help repair or replace your tow truck if there’s a loss that’s not caused by an accident or collision – for example, a fire, vandalism, theft, falling object, or animal strike. Say you left the tow truck parked outside and a tree fell on it, turning it into a pancake. Physical damage insurance could come to the rescue.

Basically, physical damage includes collision coverage (repairing your truck following an accident) and comprehensive coverage.

How much does physical damage insurance cost?

The price of tow truck insurance depends on a lot of things – the value of your tow trucks and how many tow trucks you have, for example. To find out how much physical damage will cost for your business, you can fill out our online quote form or give us a call today. We’d be happy to go over the details with you so that you can get an accurate quote for how much physical damage insurance will cost.

We can help you save on your tow truck insurance.

When you’re insuring your tow truck business, it’s important to think about any potential loss your business could face. Your tow trucks are a pretty big investment, so it’s important to make sure that you protect that investment by getting the right tow truck insurance. And that includes physical damage coverage.

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