Commercial Insurance for Tow Trucking Businesses

Commercial Insurance for Tow Trucking Businesses

The severity and the hefty charges of a claim necessitate the need for trucking businesses to review their insurance policies annually. However, most trucking businesses fail to get commercial tow truck insurance, and thus have to compensate for claims up to hundreds of thousands of dollars (if not more), in the face of adversity. 

This is where we come in; Texas Commercial Insurance Company! We as a company strive to provide reliable insurance policies that are tailored specifically to suffice the needs of your unique business operations. It is because of this that our services over the years have acquired the label of the best company for tow truck insurance!

Hence, if you’re new to the trucking industry and need a reliable source to get your business assets insured, our experienced agents can set you off to a good start. Bear in mind though, trucking insurance gaps can prove disastrous towards the upward surge of your monthly revenues or business operations, altogether. Thus if you’re looking to revitalize or review your previous insurance policies, we’ve still got you covered!

What Type Of Businesses Need Commercial Truck Insurances? 

Before you take that sigh of relief where you think to yourself, “Great that I don’t own a tow trucking business, I won’t need to worry about any of these policies,” review the list mentioned below! 

  1. 24-hour towing companies 
  2. Rotational towing 
  3. Motor clubs 
  4. Full-service gas stations 
  5. Heavy recovery specialists 
  6. Auto salvage/Auction Haulers 
  7. Municipality towing contractors 
  8. Auto body & Repair shops 
  9. Roadside assistance providers

Understanding Commercial Truck Insurances

Now that you’ve figured out whether or not your business needs commercial truck insurance, here is an in-depth explanation and list of Commercial Truck Insurances to better acquaint yourself with! 

Commercial Truck Insurance is a grouping of various insurance policies that cover a commercial vehicle in times of roadside or other damaging forms of catastrophes. 

Primary Liability Trucking Insurance 

The first and foremost requirement for commercial vehicles is Primary Liability Trucking Insurance. The Primary Liability Trucking Insurance covers the line of damage caused to any third party via your vehicle i.e. a person or automobile that is damaged by your truck. If you are a driver and operate for personal gains only, Primary Liability is the policy for you. 

In fact, it is so important to the whole trucking business operation that the Federal Motor Carrier Safety Administration (FMCSA) has made it a necessity for trucking companies. You cannot get behind a wheel if you do not have primary liability insurance; it is as important as getting the commercial license itself! 

General Liability Insurance: A necessity for Owner-Operators 

However, the problem with primary liability insurance is such that it does not cover any internal damages caused to you or to your business. This is where General Liability Insurance comes into play. Although not a requirement by the FMCSA, General Liability Insurance proves highly favorable for all trucking business owners! This is because general liability Insurance offers a number of protective gears to the trucking business. 

Some of the risks general liability insurance covers are: 

  • Bodily Injury 
  • Property Damage 
  • Medical Payments 
  • Legal Defense & Judgement Costs 
  • False Advertising Claims & Charges of Slander and Copyright Infringement.  

Although these coverages may appear as highly unlikely cases when in need they can quite literally serve as the rowing boat to your sinking ship. Hence, do not wait until disaster strikes! Use the expertise of Texas Commercial Insurance Group to protect your business from formidable situations. 

Perhaps you’re thinking that it sounds like a good idea but the tow truck insurance cost is yet another expense for your business. Be rest assured, General Liability Insurance is a rather inexpensive policy! In fact, you can get coverages of up to $1 million in as little as $300 to $1000 a year. It is a relatively cheap tow truck insurance! 

This cost, however, is an average rate and the cost of your insurance may vary according to your specific business needs. For instance, high-risk vehicles or drivers that are more risk-prone may have to pay a slightly higher premium than other more secure businesses. 

Whatever the case, having a tow truck liability insurance can prove highly beneficial to many businesses and is also an inexpensive policy at that! 

Other Coverages that May Prove Beneficial For Your Business 

Besides the two main insurance policies mentioned above, there are a vast majority of other policies that you can avail of. Finding the right policy, however, that suffices all your unique business needs is much like an art form. Thus, you require well-informed experts who can guide you through the process and find policies that align perfectly with your trucking business needs! 

  • Commercial Auto Insurance 
  • Workers Compensation Insurance 
  • Business Interruption Insurance 
  • Commercial Umbrella Insurance 
  • Underinsured Motorists Coverage 
  • On-Hook Towing Coverage
  • Garage Service Coverage 
  • Comprehensive Coverage 
  • Excess Liability 
  • Cyber Liability 

All the aforementioned coverages are really the tip of the iceberg when it comes to Commercial truck insurances. Hence, consult a reputable source to guide you through the process and make sure you have no insurance gaps! 

How Texas Commercial Insurance Company Can Help?

As discussed, a licensed professional agent that knows the ins and out of all insurance policies, and can get you signed up for the policies that cater specifically to your business needs, can prove vital in preventing a plethora of catastrophes that would have otherwise damaged your business gravely. 

This is because insurance policies for tow trucking businesses are vast and plenty, and getting covered for insurance is especially intricate given the myriads of coverages you have to choose from. Hence it is in your best interest to get in touch with our agents right this moment, in order to secure your rigs and staff with the help of our experienced professionals. 

The agents here at Texas Commercial Insurance Company will provide you with a free quote, and go over your specific business needs such as required coverages, employee benefits, and compare multiple tow truck insurance quotes to find the one that best suits your budget, all at a reasonable price! 

4 Comments

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