Operating a tow truck requires a sizeable investment and involves considerable risks. Tow truck operators must consider the risks they face and protect their investment whenever possible. Tow truck insurance can play an important role in protecting Massachusetts wreckers from loss and liability.
Tow truck insurance is specialized commercial insurance for tow truck operators. Policies normally come as package policies that combine coverages together, which allows the insurance to protect against many of the risks that wreckers face.
Most Massachusetts businesses that provide towing services are required by state law to have minimum levels of towing insurance in place. In many cases, operators choose to purchase more coverage than is legally required so they’re better protected.
Some examples of businesses that might need this insurance include:
Car transport companies may also find that this insurance suits them well, although some transport companies will be better served by a different commercial insurance policy. An insurance agent who specializes in towing insurance can help transport companies determine what insurance is best for them.
Towing insurance can provide a range of coverages, offering a variety of standard and optional protections. Some of the more common coverages that towing operators might want to look for are:
Policies may offer still more coverages, which some tow truck operators might want.
Workers' compensation coverage generally protects against workplace injuries, and this is an obvious concern when operating a tow truck. Most Massachusetts businesses that employ workers are required to carry the coverage.
Not all towing policies offer workers compensation among their standard and optional coverages, though. Although some may, many others leave operators to purchase the coverage through a separate policy. An insurance agent who assists with towing policies can also help find a worker's compensation policy.
Towing policies are largely affordable when considered in light of a potential claim’s cost, but premiums for policies do vary. The following details are some of the items that frequently impact rates:
An independent insurance agent can help operators find out how much insurance will cost them. Independent agents are free to compare policies from multiple insurance companies, which makes it easy to select the right policy based on coverages and premiums.
For help insuring tow trucks in Massachusetts, contact the independent insurance agents at The Feingold Companies. Our agents are well-versed in this insurance, and they’ll work closely with you to find the best available tow truck insurance. With our assistance, you can be confident in what towing policy you select.