Property damage is a big risk for towing companies. Gain financial protection against customer lawsuits and vehicle accidents with tow truck insurance coverage designed for your specific risks.
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 liability coverage can pay for accidental damage to customer property, accidental bodily injuries, and other common third-party claims.
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. It covers your business in the event that a customer’s 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.