Tow Truck Insurance in Vermont

WHAT IS IT? WHO NEEDS IT? COVERAGES OFFERED

Tow truck insurance is a form of commercial insurance that’s tailor-made for two truck operators. Policies typically cover the truck, the operator, and vehicles that are towed.

If insuring heavy-duty wreckers, operators should work closely with an insurance agent who specializes in towing insurance. A specialized agent will be familiar with the additional coverages and limits that towing tractors and other large equipment normally requires.

Physical Damage Coverage
Comprehensive Coverage
On-Hook Towing Coverage

What is tow truck insurance?

Tow trucks are operated in some of the most dangerous roadway settings, as vehicles seem to most frequently need tows when it’s rush hour, rainy or dark. Insurance won’t do anything to protect Vermont tow truck operators from the physical risks they face. Having tow truck insurance could financially protect operators from the costs of a roadside accident or other incident, however.

Tow truck insurance is a form of commercial insurance that’s tailor-made for two truck operators. Policies typically cover the truck, the operator, and vehicles that are towed.

What businesses in Vermont need to have towing insurance?

Most Vermont tow truck operators need towing insurance. Certain coverages are required by state law, and towing policies add other important ones.

Because many different types of businesses operate tow trucks, these policies may be needed by a variety of auto-related businesses. Standard wreckers, heavy-duty wreckers, auto service centers, independent mechanics, police departments, and even a few charities might need policies.

What protections can operators get through towing insurance policies?

Depending on a towing policy’s terms and conditions, it may offer some or all of the following protections:

Physical Damage Coverage: Might cover wrecker damage that’s sustained during accidents with other vehicles
Comprehensive Coverage: Might cover wrecker damage that’s sustained outside of accidents (e.g. theft, animal strikes, falling branches, etc.)
On-Hook Towing Coverage: Might cover customer vehicle damage that’s sustained when a vehicle is hooked up to a wrecker
Garage Services Coverage: Might cover customer vehicle damage that’s sustained when a vehicle is stored at a facility
Tow Truck Liability Coverage: Might cover third-party property damage and injuries that are sustained during accidents
Medical Payments Coverage: Might cover medical costs arising from injuries that occur during accidents
Uninsured/Underinsured Motorist Coverage: Might cover accidents with improperly insured drivers

There are still many other protections that policies commonly make available. A knowledgeable insurance agent can help operators explore all of their coverage options.

Mike Bancroft is simply an amazing agent. When my business got burglarized, I was so upset and didn't know what to do. He was very prompt in calling me back and he put my mind at ease. He made me feel so much better and handled all of the paperwork immediately. His customer service is top notch and I highly recommend him!

Becci Kepnes-Letourneau

Our business was with the same trusted agent for over 20 years. Mike Bancroft offered to evaluate our policies and see if he could save us some money on both Workmen's Comp and general liability. He did, and in the process even moved us to better coverage. Mike also offers a superb quality of service. Cannot recommend highly enough.

StoryWorkz Creative

Mike Bancroft has been great to work with. He has assisted with my Business Auto, Tool Coverage, Homeowners and all other types of insurance needs. I wouldn't be surprised if they change their name to Paige, Campbell & Bancroft soon!

Lance Garrett

Extremely prompt, personable, and professional service! Despite only needing a workers' comp policy for one employee, Paige & Campbell was very receptive and ensured to shop my policy around to ensure I received a great price that was almost half of what another broker quoted me.

Jennifer L.

Can vehicle transporters purchase towing insurance for their equipment?

Vehicle transporters often need many of the coverages that are found in towing policies. These policies don’t necessarily provide all of the coverages that transporters need, though.

For this reason, most transporters are better served by a different type of policy that’s more specifically tailored to them. An experienced agent can help vehicle transporters find a suitable policy.

Do truck policies come with workers compensation?

Whether workers compensation is included within tow truck policies depends on the specific policy. Sometimes it’s available within a tow truck policy, while other times it has to be purchased through a separate policy that provides just workers comp.

In either case, towing operators should be careful to get this coverage. Workers compensation generally protects against job-related injuries, which wrecker operators are certainly at risk of.

How much are the premiums for tow truck policies?

The rates that insurance companies charge for tow truck policies are based on a multitude of factors. A wrecker’s year, make and model, the number of wreckers, the operator’s experience and driving record, and where towing services are offered are merely a few of the details that can impact premiums.

Nonetheless, premiums for tow truck policies tend to be affordable for operators. They almost certainly cost less than what a major claim might be, especially if multiple injuries and/or extensive damage are sustained.

How can wreckers get tow truck insurance?

For help insuring wreckers that operate in Vermont, contact the independent insurance agents at Paige & Campbell Insurance. Our agents will work closely with you to make sure your chosen tow truck insurance policy protects your business, wreckers and customers’ vehicles well.

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