subject: Truck Insurance and Tow Trucks [print this page] Truck Insurance and Tow Trucks
Commercial truck insurance is intended to cover the needs of drivers and trucking companies in case the unforeseeable happens. Accidents can lead to huge repair bills for yours and others' equipment. It can also cause bodily injury that also must be paid for.
While all drivers and motor carriers in the truck industry realize the need for truck insurance coverage, they also recognize how specialized these policies need to be. Different facets of the industry require different levels of coverage. A company that hauls refrigerated produce, for instance, will have different coverage needs than one that ships hazardous chemicals.
Likewise, trucks that are used to tow other vehicles have special truck insurance needs. Since tow trucks have much different operating capacities than traditional semi-trucks, it's important to create policies that are relevant to tow trucks non-cargo applications.
Tow Truck Insurance
As the name suggests, tow truck insurance is specifically tailored to meet the needs of tow truck owners and operators. It covers the cost of damage to another vehicle while being towed. Damage can occur very easily, even if the driver is exceptionally careful.
Independent tow truck drivers and those who run towing companies need this insurance to cover the cost of damages to their trucks as well as to the vehicles they pull.
How Much Coverage Is Necessary?
The biggest factor in considering the level of tow truck insurance coverage you need is the amount you intend to use the tow truck. If your business is primarily built around towing other vehicles, you should consider a high degree of coverage.
Conversely, if you only use it in a limited capacity to tow vehicles from your lot to your garage, you can purchase a smaller amount at a lower price. In the end, it's up to you to decide how much coverage you need to keep your towing business running smoothly.
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