Due to all the hazards and risks that can be associated with the operation of a tow truck, finding the right tow truck insurance is highly important. Tow truck companies will need to have a customized tow truck insurance policy in place so they will be protected from the variety of risks they will face every time they are on the road.
The financial risks from a tow truck operation can easily surpass those that come with operating a personal vehicle. The dangers that can arise from being a part of the tow truck industry can be disastrous.
One tow truck company will not be the same as the next tow truck company across town. The business strategies that might work for the tow truck insurance company in one town may not work for you, and the same is true when it comes to insurance.
If you carry the wrong type of the wrong amount of insurance can compare to a tow truck company that does not have any insurance at all. When you have adequate tow truck insurance, you will be protected, your drivers will be protected, and your business and customers will be protected.
In order for you to have the best coverage available, it is important for you to have a clear understanding of the type of insurance that is available to you. Every commercial truck company is required to carry at least physical damage coverage and liability insurance. Tow truck insurance has a variety of extra and specialized coverages you are able to choose from, including the following:
- Tow truck liability insurance that will include property damage and liability coverage
- On-hook towing insurance that will help pay for damages to the vehicles you are towing
- Garage service insurance will protect the vehicles that have been stored on your property
- Underinsured/Uninsured that will provide coverage if you are hit by a driver who does not have adequate coverage
As with any type of insurance, a variety of factors can have an impact on the premiums you are responsible for paying. The amount of insurance you will purchase will be one of the main factors, but it is important to consider other factors, such as the following:
- The risks of being in a tow truck accident are high
- The age of your tow truck can have an impact on the amount of insurance coverage you will pay
- The city/state where your tow trucks will be used will have an impact
We understand how important tow trucks are every day. Many drivers find themselves in need of a towing service and that is where you come in. However, we want you to be aware of the risks and we want you to have the coverage you need. Please do not hesitate to contact J.E.B. Insurance Services, LLC so we can help you with the coverage that will give you the best protection. J.E.B. Insurance Services, LLC is licensed in Florida, Georgia, Texas, North Carolina, South Carolina, Iowa, Tennessee, Nebraska & Illinois.
