tow truck insurance Archives - Atlanta Insurance

Do I need physical damage insurance for my Atlanta tow truck business?

February 28, 2019 by Kate Betts

It's important to consider physical damage insurance for your tow truck business.

If you have a tow truck business, you’re probably wondering what kind of insurance you need to tow cars. Is just having auto liability insurance enough, or is there other insurance you need? One coverage that you might want to consider to protect your business’s bottom line is physical damage insurance. But what exactly is that, and why do you need it for your Atlanta tow truck business? We’ll explain what physical damage insurance is and why it’s important to think about when considering insurance for your business.

What is physical damage insurance?

Physical damage insurance is the coverage that can help you get your tow truck back on the road following an accident or another loss. Basically, if your tow truck gets smooshed, scratched, squashed, or otherwise damaged, your physical damage insurance helps with the repairs (or, in dire circumstances, replacement) of your vehicle.

The thing to keep in mind about tow truck insurance is that auto liability insurance won’t cover the repairs of your tow truck. If you’re at-fault in an accident, liability insurance pays for expenses like the other driver’s medical bills and car repairs – and it can help cover your legal expenses if you get sued over the accident. It protects the other driver…not your vehicle.

Bodily injury liability helps cover the other driver’s medical expenses. Property damage liability helps cover the repairs or replacement of the other driver’s car (or other property you might damage.)

Moving on, physical damage insurance consists of two parts: collision coverage and comprehensive coverage.

What is collision coverage?

Collision coverage helps you repair or replace your tow truck if you’re in an accident (or if you collide with something else, like a tree or telephone pole.)

For example:

You’re driving along on the way to help a driver whose car has broken down. On the way there, you accidentally run a red light and get into an accident. Fortunately, everyone is fine, but your tow truck is pretty smashed. Your collision coverage can help you cover the repairs.

What is comprehensive coverage?

Of course, getting into an accident isn’t the only way your tow truck could come to harm. If your truck is damaged by something other than an accident, comprehensive coverage helps you cover the repairs or replacement of the tow truck.

Covered losses can include…

Fire
Vandalism
Animal strikes
Falling objects (i.e. trees)
Theft

To give an example, let’s say that you park your truck outside in the yard. You happen to be located in a spot that’s near a lot of trees. That night there’s a surprise storm that knocks down a bunch of the aforementioned trees…and a huge tree branch crash-lands right into your tow truck. Which now resembles a pancake. Comprehensive coverage can help you repair the truck and get it back on the road.

Why is physical damage insurance important?

So, here’s the deal:

If you run a tow truck business, you’re kind of dependent on, well, your tow trucks. You can’t have a tow truck business without vehicles. If something were to happen to one of your trucks – for example, you get into an accident that’s your fault or your truck gets stolen out of your yard – you would need to get that tow truck either repaired or replaced and back to work. You need all of your trucks operating to protect your bottom line and keep your business running smoothly.

The only problem is that tow trucks are expensive. That’s why having the proper coverage for your tow trucks is essential. Those trucks are a major investment, and physical damage insurance is a crucial part of protecting that investment. If you only carry auto liability insurance, you would not be financially protected if something happened to your tow truck – meaning that the repairs or replacement of your truck would fall on your shoulders.

So, that’s what physical damage insurance is and how it can protect your bottom line and your business’s finances. Collision insurance helps you repair or replace your tow truck if it’s damaged in an accident. Comprehensive insurance helps you repair or replace your tow truck if it’s damaged by a loss other than an accident, such as a fire, falling trees, animal strike, vandalism, and theft. When you’re getting Atlanta tow truck insurance, be sure to consider physical damage insurance for your business.

To get started with tow truck insurance quotes, fill out our online quote form or give us a call. We can help you get great tow truck insurance at a great rate by getting quotes from multiple insurance carriers.

How do I get Atlanta tow truck insurance quotes?

February 21, 2019 by Kate Betts

If you have a Georgia tow truck business, you’re probably wondering how to go about getting tow truck insurance. You know you need to get insurance, but you’re really not looking forward to it – there are a lot of tow truck insurance coverages to consider, and you’re worried that your insurance might be expensive. But first of all, what’s the best way to get quotes for tow truck insurance? We’re going to explain how to get Atlanta tow truck insurance quotes and why it’s so important for you to get multiple quotes.

How to get tow truck insurance quotes:

Are you a little worried that getting tow truck insurance quotes will be complicated or overwhelming? It doesn’t have to be – actually, it can be quite easy. We’ll explain how the quoting process works so you know what you’re getting yourself into.

1. You fill out our online quote form or give us a call.

The first step in getting tow truck insurance in Georgia is filling out our online quote form or giving us a call. This lets us know that you’re in the market for insurance. We have a team of tow truck insurance professionals who can help you get quotes for your insurance – you just have to reach out to us.

2. One of our agents asks a few quick questions.

So, the next thing that happens is that one of our agents will ask a few quick questions to gather some general information about your business. We need to ask these questions so that we can get you the most accurate quote possible. But don’t worry – we’ll be quick and we won’t take too much of your time. We know that you’re busy – you have a tow truck business to run, after all. We like to make insurance easy.

3. We go get your tow truck insurance quotes.

Next comes the fun part – we go to the various carriers that we work with to collect some tow truck insurance quotes for you. We have relationships with many different insurance companies, so we can get competitive quotes and help you get the quality coverage you need. (Shopping around for tow truck insurance quotes can help you save money on your rates, by the way.)

4. We come back with your quotes.

We’ll go over your quotes with you and present your options. We’ll help you finalize your coverage and get everything squared away so you can hit the road with peace of mind. Our goal is to help you get great tow truck insurance at a great rate.

5. We’re here to help you with any insurance-related questions.

You can reach out to us any time with questions or issues pertaining to your insurance. You don’t have to go it alone. We’re available by phone, email, and LiveChat so you can get in touch in whatever manner is most convenient for you. Need to add a truck to your policy? Sure! Need to make an adjustment to your driver list? Not a problem. We’re here to take care of any concerns in a timely manner and with great customer service.

Why is it important to get tow truck insurance quotes?

Maybe you’re wondering why it’s important to bother with this entire process. Perhaps it feels like a bit of rigmarole. You might just be looking to get a ballpark estimate. However, the issue with “ballpark” estimates is that they tend not to be terribly accurate. There are a lot of factors that affect tow truck insurance rates, so rates vary a lot from business to business. The reason is that insurance companies need to find out how much of a risk you would be to insure and how likely you are to file a claim.

For example, things like your drivers’ MVRs, speeding tickets, your claims history, your location, your tow trucks, your towing radius, and so on can affect your rates. Thus, not every business is going to have the same rates – all of these details can play a part in your premium. Besides, every business needs different coverages and a customized insurance plan. Tow truck insurance plans aren’t exactly one-size-fits-all. You can’t go by a ballpark number because that number might not accurately reflect your business’s insurance needs.

So, that’s how you can get Georgia tow truck insurance quotes and why it’s important to get those quotes in the first place. Like we mentioned, getting started with those quotes is easy – all you have to do is fill out our online quote form or give us a call.

What kinds of insurance coverage do tow trucks need in Atlanta?

October 25, 2020February 14, 2019 by dee barnett

Get the right insurance coverages for your tow trucks.

Towing can be a risky business to get into. So, whether you’re starting up your own Atlanta tow truck business or you’ve been in business for a while, you want to make sure that you’re properly insured. However, a lot more goes into insuring tow trucks than covering your drivers and your towing hook. So, here’s a rundown of the major types of insurance coverage you’ll need for a tow truck.

What insurance coverages do I need to tow cars in Atlanta?

Auto Liability Insurance

The auto liability portion of your tow truck insurance is a vital part of what protects your business in an accident. Auto liability insurance is usually broken up into two parts: Bodily injury liability and property damage liability.

The bodily injury portion of this coverage can help you cover the medical bills of another driver if you’re in a wreck. It can also help you pay the legal fees that come along with the accident if the other driver decides to sue. The property damage portion of auto liability can help you pay for the cost of repairs or the cost to replace the other driver’s car.

In the state of Georgia, all tow trucks are required to have:

A $100,000 coverage limit per person for bodily injury or death
A $300,000 limit per accident for each person injured or killed in an accident, and
$50,000 in property damage coverage per accident.

Although these are the minimum limits for tow truck auto liability in Georgia, your towing contracts may have different coverage requirements. So, be sure to check with the people you’re contracted with and tell your agent about these limits when getting insurance quotes for your business.

It’s very important to note, though, that auto liability for tow trucks only covers the damage done to the other vehicle. So, what do you do if your tow truck is damaged in an accident?

Physical Damage Insurance

Physical damage insurance is the part of your coverage that can help you cover repair and replacement costs for your tow trucks. This type of insurance is also usually broken up into two parts: collision and comprehensive coverage.

Collision coverage for tow trucks can help you cover the costs of repairing your truck specifically if you’re involved in an accident. Comprehensive coverage can help you handle expenses from basically every other incident that could befall your tow trucks, including: fire, vandalism, theft, lightning, hitting an animal, and more.

On-hook/in-tow coverage

Regardless of the type of towing contract you have, if something happens to a client’s car, you could be held liable for the damages. Auto liability and physical damage coverage won’t help you cover that kind of risk. That’s what on-hook-in-tow coverage is for.

Let’s say that you’re driving to your yard with a client’s vehicle and it’s raining hard. Something happens and your tow truck loses traction. The truck itself and the driver are safe, but the client’s car got tossed in the chaos and has severe damage. You could be held liable for these damages, but your on-hook/in-tow coverage can help you cover the cost of the car’s damages.

Again, our insurance agents will be able to take into account the minimum requirements that Georgia has for on-hook/in-tow insurance, the minimum requirements of your towing contracts, and how much coverage you actually need for your business when you call in to get your quotes.

Garagekeepers insurance

Garagekeepers insurance can help you cover your clients’ cars while they’re in your care, custody, and control – for example if they’re on your premises. Garagekeepers will generally help you cover the cost of damage to a customer’s car due to:

Fire
Theft
Vandalism
And more depending on your specific policy

For example, if one of the cars in your yard has been vandalized, your tow truck business’s garagekeepers insurance can help. Any tow truck operator in GA must have at least $50,000 in garagekeepers coverage limits.

Garage Liability insurance

Garage liability coverage, however, is important because it can help you cover the costs of liability issues that come about because of the services you provide. This part of your tow truck insurance can help you cover you if the services you provide cause property damage or bodily injury.

For example: Let’s say that you provide roadside assistance, and you’re called in to help a customer change a tire. You drive out to them, change the tire, then the driver thanks you and drives off. However, a few miles down the road, the tire comes off, which results in an accident. You could be held liable for the accident since you changed the tire.

In the state of GA, all tow truck operators must have at least a $50,000 coverage limit for their garage liability insurance. Keep in mind that these are only the minimum requirements for garagekeepers and garage liability insurance in Georgia. Depending on the factors of your specific business, such as the type of cars you handle, the size of your business, and your towing radius, you may need more coverage. (But that doesn’t have to mean that your coverage will be more expensive – especially when you work with our agents to find quotes.)

Wrongful repo insurance

If your tow truck business also handles the repossession of vehicles, you’ll need a type of coverage that can protect you against human error. Tons of things can go wrong when repossessing a vehicle (besides a few angry customers):

You may not have checked with the bank before you picked the car up. The person may have already made their payment and the bank was a bit delayed in relaying this information to you. Wrongful repo insurance may cover the costs of any legal fees that happen because of the misunderstanding. However, to avoid this mishap, make sure you check with the bank before you leave to tow the car.
There was no written notice to you or the customer about the repo. A spoken agreement between you and the bank is not enough to tow the car. So, make sure you have written consent.
You could just take the wrong car. Accidents happen, but this oops could have very dire consequences for your business if you don’t have the right coverage.

These may seem like a lot of coverages to have for a tow truck business, but they’re vital for keeping you, your drivers, and your business safe and out of a major financial pickle. It can be tough to look for all of these types of insurance by yourself and get the right amount of coverage for your particular towing business and tow trucks.

That’s why our insurance professionals are here to help. Call us at 404.352.0304, fill out our online form, or chat with us to find out why we have a 9.8/10 review on TrustPilot after helping tons of towing companies get the Atlanta tow truck insurance they need.

Source:

http://www.gamccd.net/NctFaq.aspx

What you need to know about Georgia tow truck insurance

September 27, 2022February 7, 2019 by Kate Betts

Here are some answers to some common Georgia tow truck insurance questions.

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 skilled 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 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 professionals 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.