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How to get the lowest rates on tow truck insurance

If you tow disabled vehicles, then you need specialized tow truck insurance. Just having regular truck insurance is not enough. However, rates for tow truck insurance can be expensive. In fact, many insurance carriers have raised their rates as towing vehicles can be risky. There is a lot of liability that comes with towing disabled vehicles. As a result of the rising rates, you’re probably looking for a way to find cheap tow truck insurance. Luckily, we have some tips to help you save money.

Figure out what coverages you need.

The first step in finding affordable rates for tow truck insurance is to figure out what coverages you need. You can’t just choose the lowest cost insurance because it might not fully protect you. If you don’t get the proper protection, then what good is having coverage?

Tow trucks require specialized coverages. Here is a breakdown of what you need:

Liability insuranceAuto liability insurance is necessary and required by law. It pays for other people’s injuries and property in the event of an at-fault accident. There are two types of liability insurance — property damage and bodily injury. If you injure another person in an accident, bodily injury will cover their medical expenses.  Property damage covers damage to their property or vehicles.

Physical damage coveragePhysical damage insurance covers damage to your tow truck. There are two types of physical damage coverage that are useful for tow truck operators. These are collision coverage and comprehensive coverage. Collision covers damages to your tow truck in an at-fault collision. It covers regardless of whether the collision is with another vehicle or an object like a tree. Comprehensive pays for damages that result from events like storms, fire, vandalism, theft, falling objects (i.e. trees), or animal strikes.

Uninsured/Underinsured motorists coverage – What happens if your tow truck is hit by a driver who doesn’t have insurance, or who doesn’t have enough insurance? Uninsured/Underinsured motorist coverage can help you cover your medical expenses if you’re hit by a driver without insurance (uninsured) or without enough insurance to cover the costs of the accident. It can also help you with the repairs to your truck if you’re hit by an uninsured or underinsured motorist.

On-hook coverageOn-hook coverage is a must for tow truck operators. What happens if your customer’s vehicle is damaged when you are towing it? If you don’t have this insurance, you would have to pay for damages out of pocket. On-hook towing covers your customer’s cars when they are attached to your truck.

Compare Quotes for Rates for Tow Truck Insurance

After figuring out what coverages you need, the next step is to compare quotes. Insurance companies compete to get customers so it pays to get multiple quotes for rates for tow truck insurance. You could call each and every insurance company and ask for quotes but that is a hassle.

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Instead, simply fill out this form and we’ll get multiple quotes for you to look over. It’s completely free to compare rates for tow truck insurance. The process is risk-free. We can help you get the right insurance so that you’re protected from your risks. All you have to do is fill out our online form or give us a call.