Because of the risks associated with operating a tow truck, finding the right Charlotte tow truck insurance policy is extremely important.
Carrying the wrong amount or kind of insurance is just as bad as not carrying any coverage. Your tow truck insurance will protect you, your drivers, your business, and your customers.
CHARLOTTE TOW TRUCK INSURANCE COVERAGE
In order to make sure you have the best coverage, it helps to know what kind is available. All commercial truck companies are required to carry a minimum of liability and physical damage coverage. Tow truck insurance has several additional and specialized types coverage you can select.
- Tow truck liability insurance includes bodily injury and property damage. Remember, tow truck drivers and companies can be held liable in several instances: being at fault in an accident; any damage caused to the vehicle being towed; injured passengers; and damaging another, separate vehicle on the road.
- On-hook towing insurance covers the vehicles you’re physically towing.
- Garage service insurance protects the vehicles you have stored at your facility.
- Collision coveragerepairs or replaces your tow truck in the event of a crash.
- Comprehensive coverage protects your tow truck in other non-crash accidents.
- Medical payments coverage will pay the medical payments if you, your drivers, or your passengers are injured because of an accident that occurs while riding in the tow truck.
- Uninsured/underinsured motorist coverage protects you when the other driver, who’s at fault, has little or no insurance coverage of their own.
CHARLOTTE TOW TRUCK INSURANCE PREMIUMS
As with all insurance, certain factors can affect the premiums you pay. Of course, the amount of insurance you purchase is a direct factor, but there are other things to consider:
- Tow trucks are at an increased risk for accidents.
- The age and model of your trucks can affect cost.
- Whether your drivers have clean or not-so-clean driving records impacts your premiums.
- How and where your trucks will be used makes a difference.
If you offer towing services for repossession of vehicles or other items, be aware that some insurance providers will not cover your trucks. Extra risks come with repossession. You’ll want to work closely with our insurance agents who can do the research and find the right coverage for you.
Tow trucks provide an amazing service for disabled vehicles and their owners who are often stressed to the max to find themselves stranded on the side of the road or in a parking lot somewhere. But providing that service comes with a risk. We can help you find the coverage that protects your drivers, your business, and your customers while letting you focus on helping people and their vehicles. Give us a call today!