If you work with tow trucks in Georgia, you know that there’s a lot of adventure that goes along with towing cars. Which is exactly why there’s tow truck insurance – when accidents happen or things go wrong, having the right insurance can really save the day. So, you know that you need to get tow truck insurance, but there are plenty of questions that go along with it. We’re going to tackle five common tow truck insurance questions to shed some light on the strange thing that is Georgia tow truck insurance.
Do I need tow truck insurance?
There are a variety of businesses that could benefit from tow truck insurance. Basically, if your line of work involves a tow truck or a wrecker, you’ll probably need to consider getting specialized insurance that includes specific coverages to protect your vehicle.
Businesses that might need Georgia tow truck insurance include (but are not limited to):
- Auto body shops
- Roadside assistance businesses
- Towing services
- Repo companies
What insurance coverages do I need to tow cars?
As you can imagine, there are plenty of business insurance coverages to consider to protect your towing business. Some of the coverages towing businesses get include…
- Auto liability insurance: Auto liability insurance can help cover your legal obligation to the other driver and their passengers if you’re at fault in an accident. It can help you if they decide to sue you.
- Bodily injury liability: This part of auto liability insurance can help you cover the medical expenses, pain and suffering, and lost wages of those that you injure in a car accident.
- Property damage liability: This part of auto liability insurance can help you cover the costs of repairing or replacing the property of others that you might damage in an accident – for example, the other driver’s car if you’re in an accident.
- Physical damage insurance: This coverage can help you get your tow truck back on the road ASAP if it gets damaged. (Liability insurance won’t cover damages to your own tow truck.)
- Collision insurance can help you repair or replace your tow truck if it’s damaged in an accident in which you’re at fault or if you otherwise collide with something.
- Comprehensive insurance can help you repair or replace your tow truck if it’s damaged by something other than an accident, such as fire, theft, vandalism, and falling objects (i.e. trees).
- On-hook/In-tow insurance: On-hook insurance can help protect you if one of your client’s cars is damaged while it’s attached to your tow truck.
- Garagekeepers insurance: Garagekeepers can help protect you if you ever have care, custody, or control of your clients’ cars (for example, if you ever have to store them on your premises.) Examples of covered losses include fire, theft, and vandalism.
- Garage liability insurance: Garage liability can protect you against claims of bodily injury or property damage arising from the day-to-day operation of your business and the services you provide.
- Wrongful repo insurance: Wrongful repo insurance can protect you if you accidentally manage to repossess a car that you’re not supposed to.
How much does tow truck insurance cost?
You’re probably wondering how much Georgia tow truck insurance costs. The thing is that tow truck insurance rates depend on a lot of different factors. Insurance companies look at a lot of details about your business because they want to know how much of a risk you are to insure. (Businesses who present more risk will probably have higher rates.)
Some of the details that affect tow truck insurance rates are…
- Your location
- How long you’ve been in business
- Your tow truck
- Loss history/Claims
- Tickets and traffic violations
- The kind of towing you do
- Your drivers and their MVRs
- Your towing radius
How can I save money on tow truck insurance?
Another thing that you might be wondering about is how to save money on Georgia tow truck insurance. It’s important to emphasize safety at your towing business – this will help you avoid claims and therefore save money on towing insurance. The following can help you save money on your premium:
1. Have written workplace safety policies to outline driver behavior and safety expectation.
2. Have a pre-trip vehicle inspection procedure.
3. Have a thorough hiring process and hire safe drivers.
4. Conduct regular safety meetings with your employees.
5. Don’t forget to ask about tow truck insurance discounts.
6. Raise your deductible if you’re financially comfortable doing so.
7. Avoid filing minor claims against your insurance.
8. Get multiple quotes for tow truck insurance.
How do I get Georgia tow truck insurance quotes?
It’s important to get multiple tow truck insurance quotes so you can compare coverages and pricing. But how does one go about doing that? We’ll explain our quoting process.
1. You fill out our online quote form or give us a call.
2. Our agent gets some details about your tow truck business.
3. We go shopping and get you competitive quotes from different carriers.
4. We go over your insurance options with you and you decide which policy will work for you. Then we help finalize your coverage.
5. We’re here to answer any questions you may have and to assist with any insurance-related queries you may have.
So, those are the answers to several important tow truck insurance questions. If you need tow truck insurance quotes, we would be happy to help. Our tow truck insurance experts can help you get the business insurance coverage you need to protect your company from risks. We’re also pros at making insurance easy. To get started with your quotes, fill out our online quote form or give us a call today.