Tow truck insurance is necessary for any business that tows vehicles. Even if it isn\u2019t your core service, you need to protect yourself, your workers, and your assets in case of an accident.<\/span><\/p>\n Tow trucks are heavy and are usually carrying or dragging another vehicle with them. This creates a greater risk for incidents. It\u2019s also risky for workers. Nonfatal injury rates were just above 204 per 10,000 full-time workers. That may not sound like a lot until you compare the stats to other professions. Other industries have a nonfatal injury rate of 98 per 10,000.<\/span><\/p>\n The death rates aren\u2019t any better. A total of 191 towing employees were killed between 2011 and 2016, giving the industry an annual rate of 43 deaths per 100,000 fulltime workers. Other U.S. private industries combined had an annual death rate of 2.9 per 100,000.<\/span><\/p>\n Towing services are essential to communities. They keep roadways clear and help people get assistance after a breakdown or accident. While businesses and industry leaders try to find ways to improve safety measures, every company that tows vehicles must have adequate tow truck insurance.<\/span><\/p>\n Federal law states that tow truck drivers are required to have auto liability coverage. The minimum coverage limits will vary from state to state. You should check your local area or ask your insurer for more information. Some states also require medical payment coverage.<\/span><\/p>\n If you have employees, then you need a workers\u2019 compensation policy along with your tow truck insurance. This will pay for medical expenses if an employee is hurt while on the job. It also protects your business from expensive lawsuits. Most states require workers\u2019 compensation coverage for any company with one or more workers.<\/span><\/p>\n Multiple types of tow truck insurance are available. You may or may not need them all. It\u2019s important to have a basic understanding of what each covers so you are aware of what might be required when you look into quotes. The types include:<\/span><\/p>\n Keep in mind that tow truck insurance doesn\u2019t necessarily cover every expense after an incident. It does not pay for damages related to intentional harm and may not cover certain types of cargo like jewelry, money, alcohol, explosives, tobacco, and pharmaceutical drugs. Hazmat insurance is required if you are handling or working around hazardous materials.<\/span><\/p>\n The cost of tow truck insurance will vary depending on your business needs. The national average cost for basic coverage was $450 or $4,500 to $5,000 per year in 2020. That estimate was for one truck and basic roadside and recovery towing.<\/span><\/p>\n General liability policies for a small business with minimum coverage usually cost between $97 and $159 per month.<\/span><\/p>\n You will need to provide the specifics of your situation for an accurate quote. For example, a business that does auto repair and bodywork that operates a tow truck to support its repair business will pay an average of $7,500 per truck per year.<\/span><\/p>\n Companies that use tow trucks for repossession purposes should expect to pay around $10,000 per truck annually. That\u2019s because repossession work comes with more risks than those who tow for a repair service.<\/span><\/p>\n Several factors affect your tow truck insurance premiums, including location, emergency hours, type of towing, number of drivers, company safety policies, length of time in business, and driving records.<\/span><\/p>\n Getting a tow truck insurance quote is easy thanks to the internet. The fastest way to get a personalized estimate is to <\/span>visit InsureTrucking.com<\/span><\/a>. Click on the \u201cGet a Quote Now\u201d button to get started.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Tow truck insurance is necessary for any business that tows vehicles. Even if it isn\u2019t your core service, you need to protect yourself, your workers, and your assets in case […]<\/p>\n","protected":false},"author":1,"featured_media":689,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[7,5,6],"yoast_head":"\nIs Tow Truck Insurance Required?<\/span><\/h2>\n
Types of Tow Truck Insurance<\/span><\/h2>\n
\n
How Much Does Tow Truck Insurance Cost?<\/span><\/h2>\n
How to Get a Tow Truck Insurance Quote<\/span><\/h2>\n