What To Look For In Commercial Towing Insurance Coverage Policies

Find out the details of the towing insurance policy the commercial towing company responsible for your business’ fleet holds – it is the only way to know for sure your machinery and cargo are protected while outside of your care. How do you know what coverage should be included? Follow this guide to ensure you are hiring the best commercial towing team with the most comprehensive range of coverage designed to protect and benefit you, the client, along with your valued company property.

Liability Insurance

While each state’s insurance requirements differ, especially between single owner drivers and commercial policy coverage limits, liability insurance is one of the most common insurance selections. If the tow truck company or their individual drivers are responsible for injuries to people or property, liability insurance pays the towing company’s share of financial responsibility, minus the deductible. A separate policy option for medical payments may be required for full injury coverage for the drivers, passengers and others involved in any accident.

Collision and Comprehensive

A long-standing company with a solid foundation will also carry collision and comprehensive coverage, even if it is not mandated by the state. Collision insurance pays for the replacement or repair of the towing company’s vehicle, while comprehensive offers reimbursement in many types of accidents, including falling tree branches or fire. The organization may also rely on uninsured motorist coverage to protect both their own fleet and the commercial vehicles they tow in case an accident occurs involving another driver who has no insurance.

Coverage While the Tow Company Retains Possession

Two policy options for commercial companies are designed to protect the towed vehicles and property in their possession during business operations. First, on-hook towing insurance covers all vehicles currently in transport and attached to the company’s tow vehicle. If an accident inflicts damage to the vehicle, the towing company pays the deductible and the insurance company covers the remaining repair costs.

Second, garage keepers’ legal liability insurance offers protection for any damage that comes to the customer’s vehicle while being stored on the company’s property, whether it is waiting for owner pickup or repair. If the commercial vehicle is damaged by fire, collision, vandalism or theft, the commercial vehicle owner is fully protected from responsibility for all financial implications.

Do not wait until after you spot damage to your commercial vehicle to inquire on the transport company’s insurance policy. Know the facts beforehand and ask how to file a claim in case damage does occur.

Insurance protection is a top priority for Stauffer’s Towing. Contact them when your commercial fleet requires transport service and you want to work with a company with top-notch towing insurance policies.