Are You in Need of Tow Truck Insurance?
If you are in need of tow truck insurance, Neighbors Insurance Agency in Florida is here for you. We know that tow truck insurance can be different and have different requirements than regular insurance. That is why we are here to help you in any way that we can. Contact us to learn more. What is Tow Truck Insurance? […]
If you are in need of tow truck insurance, Neighbors Insurance Agency in Florida is here for you. We know that tow truck insurance can be different and have different requirements than regular insurance. That is why we are here to help you in any way that we can. Contact us to learn more.
What is Tow Truck Insurance?
You may think that, as a tow truck owner, you will be able to select the same type of policy as another kind of truck owner. However, this is not the case. Tow truck owners do have some similarities with other truck owners but there are unique risks that come with being a tow truck owner. Commercial tow truck owners and those who operate tow trucks are required by law to carry liability insurance. As a tow truck driver, you are responsible for the safety of your drivers, customers, and the vehicles that you are towing and you will therefore need additional types of coverage. Some of the coverage that may be included is:
Tow Truck Liability Insurance: Liability coverage is required by law in every state but the minimums change according to the state.
Medical Payments Insurance: This option allows for any medical payments that you or your passengers may incur to be covered and paid for by the insurance company.
Physical Damage Insurance: This type of coverage is usually required if you have financed the cost of your tow truck and it allows you to have coverage when your truck is damaged regardless of who is at fault.
Comprehensive Coverage: This coverage is for everything that is not a collision such as falling objects, natural disasters, fire, theft, and vandalism.
Uninsured or Underinsured Motorist Insurance: If you are in an accident where the other driver does not have insurance or has insufficient insurance, this type of insurance will kick in. It is also useful for hit and run drivers.
Garage Service Insurance: This is designed for businesses that offer towing services. What it does is provide coverage for any damages that may be sustained when a vehicle is in service while parked or being stored.
On-Hook Towing Insurance: This coverage is specifically just for tow truck operators and it covers the repairs and replacement costs if the vehicle that you are towing is damaged while being towed.
How Can We Help?
We at Neighbors Insurance Agency know how to cater to all trucks. We have tow truck insurance as well as regular truck insurance. if you have a tow truck, contact us to see how we can take care of your truck insurance needs.
Truck insurance is not the same thing as tow truck insurance. We at Neighbors Insurance Agency know this intimately. We can help you make sure that you have the right insurance for your purposes and that you are prepared for all the requirements that you may have as a tow truck driver. Contact us at Neighbors Insurance Agency to learn more.