Tow Truck/On Hook Insurance
Coverages:
- General Liability
- Bodily injury liability insurance
- Property damage liability insurance
- Medical payments insurance
- Collision insurance
- Comprehensive insurance
- Fire and theft
- Unisured motorist insurance
- Underinsured motorist insurance
- Unisured motortist property damage
- Tow Truck Insurance Quote
On Hook Towing Insurance:
- Covers your clients auto while being towed by your company
- Tow trucks must have a minimum of $50,000 in coverage for vehicles that are in tow or on hook.
- Flexible deductibles for on hook towing
Tow Truck Insurance Requirements:
- Tow Trucks with a Gross Vehicle Weight of 40,000 or more must carry a minimum of $300,000 Combined Single Limit. This limit applies per occurrence.
- Tow Trucks with a Gross Vehicle Weight of 35,000-39,999 pounds must carry a minimum of $100,000 Combined Single Limit. This limit applies per occurrence.
- Tow Trucks with a Gross Vehicle Weight of less than 35,000 pounds must carry a minimum coverage of $50,000 Combined Single Limit. This limit applies per occurrence.
Tow Truck Garage Keepers Insurance:
When storing the auto you tow, then you will need garage keepers insurance to cover any physical damage which may occur to the auto while at your storage location.
- Tow Truck operators must carry a minimum Garage Keepers Legal Liability Limit of $50,000 for each loss, covering perils of fire and explosion; theft of a vehicle, its parts or contents; riot and civil commotion; vandalism; and malicious mischief.
- Florida Tow Truck operators must carry a minimum Garage Liability Limit of $300,000 Combined Single Limit. This limit applies per occurrence.
Coverages for Tow Truck Insurance:
- Tow Truck Liability Insurance: As discussed, liability coverage is especially important to truck drivers. No driver or company can operate on the road legally without liability coverage. If a driver is in an accident, the property damage and bodily injuries sustained will be covered by this policy.
- Tow Truck Medical Payments Insurance: This offering ensures medical payments are paid for drivers or passengers of the truck – if there is an accident to the vehicle. This is important because drivers often provide a ride to the owners of cars they are towing.
- Tow Truck Comprehensive Insurance: If you have newer vehicles, then comprehensive coverage is important. This coverage offers protection in the event that your trucks get damaged in situations other than a collision.
- Tow Truck Physical Damage Insurance: If you have financed the purchase of your trucks, then you will usually be required to carry physical damage insurance for them. The coverage protects against damages, regardless of fault.
- Tow Truck Garage Service Insurance: If your business not only offers towing services, but you also offer roadside repair or in-house service stations – then you’ll want to get garage service insurance. This coverage will protect you against damages incurred while a vehicle is being serviced by your business.
- Tow Truck Uninsured or Underinsured Motorist Insurance: With this option, your company will be compensated if you’re involved in a collision with a motorist who doesn’t have the proper coverage. Most of these policies also protect against hit-and-run situations.
- Tow Truck On-Hook Insurance: As we already mentioned, on-hook coverage protects the vehicle while you are working. This coverage will pay for repairs or replacement costs if any damages are done to a vehicle you don’t own during transport.