The Right Towing Insurance Can Prevent You From Being Taken for a Ride
The number of vehicles registered for highway use in the U.S. is large and growing annually. The United States Department of Transportation placed the total at greater than 272 million as recently as 2017. At the same time, people are holding on to purchased cars longer than ever, increasing their likelihood of need a tow. In a high-stakes towing enterprise, your industry-leading service requires tow truck insurance that fits your business model.
Go Beyond Minimal Coverage on Vehicles
Businesses across the board invest in general liability insurance, of course. Towing businesses should also consider vehicle plans. Gain Insurance Agency recommends the following minimal tow truck insurance for protecting customer vehicles:
- Garage keepers, which covers cars on-premise
- On-hook towing, which covers cars while being towed
You do also need to worry about your own inventory. To protect business-owned tow trucks, work with agents who focus on tailoring comprehensive coverage for everything from single-owner services to corporate combined fleets. Additionally, state-by-state expertise is crucial to customizing a tow truck insurance package.
Leave Nothing to Chance
To enhance market penetration and survive long-term, successful towing business owners adopt the mindset that they must overbuild their operations. They hire the best drivers. They maintain a fleet of elite trucks. They service their vehicles to industry standards, and they work with a strong, independent insurance agency with access to a range of insurance providers.