Property damage and injuries are a big risk for towing companies. Tow truck insurance gives you peace of mind and financial protection against lawsuits and accidents. You may need coverage to comply with state laws or the terms of a contract.
These insurance policies cover common risks faced by tow truck drivers.
This tow truck insurance policy includes auto liability coverage that pays for medical bills and property damage in an accident. It can also include physical damage coverage for your vehicle.
This insurance covers damage to customer property, accidental bodily injuries, and other common third-party claims. It may be required for a lease or contract.
Most states require workers' comp for towing businesses with employees. It also covers work-related medical bills for sole proprietors, which personal health insurance could deny.
A BOP is a cost-effective way for towing companies to buy general liability and commercial property insurance together. It protects against common lawsuits and property damage.
Almost every state requires commercial auto insurance for tow trucks and other commercial vehicles. Depending on their location, towing businesses that have employees may also be required by state law to carry workers' compensation insurance.
If your towing business stores or maintains customer vehicles, you should consider garage liability insurance. A type of general liability insurance, garage liability protects you in the event that a covered accident, such as a customer slipping and injuring themselves, happens in the course of business operations. Business owners may also need general liability insurance to fulfill the terms of a lease or a client contract.
Your towing garage might also benefit from having garage keepers insurance or on-hook towing insurance. It covers your business in the event that a towed vehicle is damaged or stolen while in your care.
Even when it's not required, commercial insurance coverage makes smart business sense. It can help pay for unexpected costs that could harm your towing business, such as expensive repairs, medical payments, or a lawsuit.
It's easy to get insurance for your towing business or repair shop if you have basic information on hand. Our application will ask for basic facts about your company, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right type of coverage for tow truck operators, whether you work independently or hire employees.