Tips for getting garagekeepers insurance

As a tow truck business, there are a lot of potential risks out there. And that means there are different types of insurance that towing businesses need. (There are a lot of fancy insurance words out there that can be confusing and overwhelming.) One coverage that you might need to consider for your tow truck business is how to get garagekeepers insurance. Here are a few tips.

How to get garagekeepers insurance for a tow truck business.

1. Understand what garagekeepers insurance does.

The first tip is that, well, it’s probably a good idea to understand what garagekeepers insurance does and how it protects your business. Now, as a towing business you might be in a situation where you have your customers’ cars in your care, custody, and control. For instance, what if you have to store a customer’s car on your lot? Maybe their mechanic’s shop isn’t open or something. What if something happened to your clients’ car? Well, that’s where garagekeepers insurance comes in. It can protect your clients’ cars from losses like theft, fire, and vandalism. So, if something terrible happened and your customer’s car went up in flames due to a fire, garagekeepers could help you out.

2. Know how much coverage you need.

Another thing to be aware of is how much garagekeepers insurance you need. (As with any type of insurance, it’s important to have enough coverage to protect your business.) To get an idea of how much coverage you’ll need, figure out how many customer cars you typically have in your care, custody, and control. Then figure out the average value of these vehicles. And then multiple those numbers together.

For example, say you have 10 cars in your care on average. If the average value of those cars is $12,000, you would need at least $120,000 (12,000 x 10) of coverage. Just a quick trick to get an estimate of the limit of coverage you’ll need.

We can help you save on your tow truck insurance.

3. Pay attention to your deductible.

The next tip we have is that you need to pay attention to the deductible that comes along with your garagekeepers insurance. You’ll probably have a per vehicle deductible. (And remember that your deductible is the amount you agree to pay if you have a claim – then the insurance pays the rest up to the policy limit.) It’s important to understand your deductible and know where it’s set and ask questions if you need to.

4. Know the exclusions.

When you get garagekeepers insurance, it’s also really important to know the exclusions of the policy. (These are things that, quite simply, aren’t covered.) You need to be aware of the exclusions in the coverage so you don’t get any nasty surprises if something you thought would be covered actually isn’t. That’s kind of true of any kind of insurance policy. You need to read the policy through carefully.

5. Get multiple quotes.

It’s also a good idea to get multiple quotes. That way you can compare different options. Having choices is nice, right? But next question is this – how does a tow truck business get quotes for garagekeepers insurance? Well, our team can help. Here’s how the process works.

  • Reach out to us by online form, giving us a call, or messaging us. Then we can get the quoting process started.
  • We’ll talk to you about your business and your insurance needs. Next, we’ll introduce ourselves and get the details we need to get you the proper quotes.
  • We’ll get you the garagekeepers insurance quotes. We work with many different carriers.
  • Question time! If you have any questions or need any clarification on your quotes, we’ll be happy to go over that with you.
  • Our team will be here to help. We’ll be here to help with any issues or concerns that arise.

We can help you save on your tow truck insurance.

So, those are a few tips for getting garagekeepers insurance for a tow truck business! Get started with your quotes by filling out our online form, giving us a call, or messaging us.

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