The towing industry is an essential service in our communities and on our roadways. The men and women in the trucks, at the garage, and on the phones work odd hours and in precarious conditions. With so much time spent driving or roadside, it's not a matter of if you need commercial towing insurance, but when.
As such, it is vital to find a policy that protects your investment while staying within your budget. With all of the different policies available, it can be difficult for even the most informed business owner to maximize their policy value while ensuring adequate coverage. That is where the independent agents at Soliman Insurance & Financial Services come in.
What types of coverage should you consider?
- Auto Liability- Basic liability insurance, required for all drivers in most states, covers property damage and medical expenses for the other party if your driver is found responsible for an accident.
- Medical Payment- Medical payment insurance covers your driver's medical expenses as well as treatment for passengers in the truck, regardless of fault. Besides providing peace of mind to your drivers, this is especially needed in the towing industry due to the frequency of rides given to stranded drivers.
- Physical Damage- Physical damage insurance covers the expenses to repair or replace your tow truck in the case of a collision, regardless of fault.
- Comprehensive- Comprehensive insurance covers damages to your tow trucks from sources other than collision. This could include falling objects, natural disasters, vandalism, and theft.
- Garagekeepers- Garagekeepers insurance covers repairs or replacement of a client's vehicle while on your property. This could include natural disasters, fire, vandalism, and theft. If your business offers roadside repairs, this is highly recommended coverage.
- On-Hook- On-hook coverage is industry-specific insurance covering repairs or replacement of your client's vehicle if it is damaged during transport.
While these are some of the basic recommended policy options that should be considered, we realize that nobody knows your business like you. But we want to learn! Our agents are always available by phone for a consultation. We work hard for all of our clients, whether you are an independent contractor with a truck and a dream or manage a considerable fleet.