subject: Truck Insurance: Why Do Tow Trucks Need Separate Insurance? [print this page] Truck Insurance: Why Do Tow Trucks Need Separate Insurance?
Commercial trucks come in all shapes and sizes and so do their individual truck insurance policies. There are tow trucks, moving trucks, dump trucks, freight trucks, and many more. The types that most commonly come to mind are the big-rigs we see on the highway, hauling commercial goods from state to state. There are also trucks designed to haul hazardous materials like gasoline, dump trucks moving debris to and from construction sites, moving trucks hauling people's personal property, and so forth.
With all of this variety comes differing regulations when it comes to truck insurance. Insurance carriers recognize that the multi-faceted commercial trucking industry requires coverage that is specific to each driver, job, and location.
As an example, we will take a look at tow trucks and why they need specialized coverage.
Tow Truck Insurance
One huge factor to consider when looking at tow trucks is the fact that tow truck drivers regularly haul cargo that does not belong to them: other people's vehicles. Towing other vehicles presents slightly elevated concerns of danger, because cars don't always break down where it's safe and convenient. Cars break down in dangerous places sometimes, like on a busy highway. With these circumstances, damages are bound to occur sometimes and drivers and tow truck companies don't want to be responsible for the full cost of those damages.
Tow trucks are laden with heavy, complex machinery that can easily damage a vehicle's under carriage while being towed. This complex machinery also presents an elevated risk of human injury. Anytime serious heavy machinery like tow trucks are involved, it is imperative to have the right insurance protection to protect yourself from being held liable for any of these many dangers of operating a tow truck.
Tow truck drivers have a lot on their plate. Most of their clients are not happy, because their car is either broken down or involved in an accident. Emotions can be running high at the scene of a tow truck, while the tow truck driver is just trying to get everyone moved to safety.
Other Factors To Consider
If you are a tow truck driver or own a tow truck as a part of your business, the frequency in which you use the truck will determine the amount of coverage you need. Drive a little, pay a little. Drive a lot, pay a little more. You don't need to worry about overpaying as long as you realize this, so don't let anyone trick you into more truck insurance coverage than you really need. However, keep in mind that in the case of an accident, too much coverage is always better than not enough.
If towing other vehicles is the primary source of your business, you will want to consider a high level of coverage. If your tow truck is only used in a limited capacity (such as moving vehicles around a lot) you can save money by only purchasing a small amount of commercial truck insurance coverage. Just make sure to communicate what you do and what your needs are, and ask questions about the policies you are looking for.
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