Tow truck businesses tow disabled vehicles. If you own a tow truck or a towing business, you need tow truck insurance. Examples of the types of businesses that need commercial tow truck insurance include:
- Roadside service providers
- Auto body shops
- Auto mechanical repair shops
- Auto salvage and auction haulers
- Auto Club contractors
Tow Truck Insurance Coverages
The most common types of towing Truck Insurance coverages include:
Liability insurance
Pays for injury that you or your driver cause to other people. Also covers damage to their property. There are two types of liability coverage: bodily injury liability and property damage liability coverage.
Medical Payments Insurance
If you or your passengers are hurt in accident, medical payment coverage pays for the medical bills.
Physical Damage Coverage
Pays for repairs to your tow truck caused by accident such as a collision with another vehicle or fallen tree branch. Physical damage coverage consists of three types of coverage: collision insurance, comprehensive insurance, and fire and theft.
Towing and Storage Protection
Tow truck insurance can cover more than just your tow truck. Many tow truck companies offer the following optional protections:
Garagekeepers Legal Liability Insurance
Optional coverage that provides coverage for any damages that are sustained by a vehicle in service while it is parked or being stored in a covered location. Although it is optional coverage, we always recommend this additional coverage.
On-Hook Towing Insurance
Optional coverage that is designed specially for tow truck operators. It pays for repairs or replacement costs if a vehicle you do not own is damaged while you are towing it. This includes damage caused by collision, theft, fire, explosion, or vandalism.
Tow Truck Insurance Cost
The cost of tow truck insurance varies. Similar to standard auto insurance, the cost of towing truck insurance depends on several factors such as location, driving history, and type of towing. When you insure your tow truck business through RCIB, you can be certain that you are getting the best coverage and the lowest rate.
RC Insurance Brokers compare rates from top insurance companies to help you find proper tow truck insurance that fits your needs. Request a tow truck insurance quote online by contacting us.