TOW TRUCK INSURANCE 101
Use the different sections below to learn about the different coverages you might need for your tow truck business. Each of these coverages is designed to protect your business from a specific risk that you face, so it's important to be familiar with them. Towing is a high-risk industry, which is why your insurance is so important. Auto liability, physical damage coverage, garagekeepers, on-hook, garage liability, and wrongful repo all work together to protect your business. Plus, they'll give you peace of mind so that you can concentrate on your trucks, your drivers, and your business. You never know what life's going to throw at you, but with the right insurance plan you can breathe easy.
If your business causes harm to someone, auto liability helps you pay the damages that you’re legally required to give them. Auto liability covers many different expenses.
This is the insurance that will help you get your truck on the road ASAP if it’s in an accident or suffers other damage. It covers the repair or replacement costs.
Garagekeepers insurance protects you when you have clients’ cars in your care, custody, and control – for example, if you store clients’ cars on your premises.
On-hook/in-tow coverage protects you from disasters that could happen while you’re hauling a client’s car. It covers the car while it’s attached to your truck.
Garage liability protects you from harm that you might cause others because of the day-to-day operations of your towing business or the services you provide.
If your towing business does repossessions, wrongful repo insurance will protect you from the fallout if you were to accidentally take a car that you’re not supposed to.