Ramey King Insurance
Tow Truck Insurance in Texas
Questions? Call us at (940) 382-9691
What is tow truck insurance?
Operating tow trucks comes with significant risks. Being struck while on a road’s shoulder may be the most obvious and severe risk, but there are many other risks to consider as well. Tow truck insurance can help protect operators in Texas from a wide range of risks that they’re exposed to.
Tow truck insurance offers tailored protection for tow truck operators and their businesses. Policies can normally cover operators, wreckers, towed vehicles, and the business itself.
Who in Texas is required to have towing insurance?
Texas state law generally requires that all two truck operators have insurance. Most operators in the state need to have towing insurance in place.
The exact minimum coverages required vary slightly depending on the type of towing that’s done. The following are what’s generally required for various types of towing:
- Incident Management Towing: Minimum $500,000 in liability protection, and $50,000 in on-hook towing protection.
- Private Property Towing: Minimum $300,000 in liability, and $50,000 in on-hook towing.
- Consent Towing: Minimum $300,000 in liability, with no specific on-hook towing requirement.
In most cases, coverage beyond what’s minimally required by the state is strongly recommended. An insurance agent specializing in towing policies can help determine what specific coverages and limits make sense for a specific situation.
Typical Coverages
What kind of coverages are included in towing insurance policies?
Towing insurance policies typically have multiple insurance coverages, which work together to offer protection against an array of risks. Some coverages that often get included in policies are:
- Physical Damage Coverage: May insure against damage sustained by the insured wrecker(s) that’s caused by collisions with at least one other vehicle.
- Comprehensive Coverage: May insure against damage to the wreckers that’s caused by non-collisions, such as falling branches, animal strikes, fires or theft.
- Tow Truck Liability Coverage: May insure against injuries and property damage to third parties caused during collisions with the insured wreckers.
- Medical Payments Coverage: May insure against medical expenses for the treatment of injuries caused by collisions.
- On-Hook Towing Coverage: May insure against damage to vehicles being towed while connected to the wreckers.
- Garage Services Coverage: May insure against damage to towed vehicles when they aren’t hooked up to a wreckers, like when at a service garage or impound lot.
- Uninsured/Underinsured Motorist Coverage: May insure against collisions involving drivers who don’t carry adequate insurance coverage.
What special insurance considerations do heavy-duty tow trucks present?
Heavy-duty tow trucks often require more extensive insurance protection than standard wreckers. The larger size, heavier weight and increased towing capacity normally make these trucks more expensive, and can result in worse accidents.
Any towing insurance purchased for a heavy-duty wrecker should have robust terms and high limits that offer solid protection. An insurance agent who knows towing policies well can help operators find an option that’ll protect them well.
How much are insurance premiums for wreckers?
The cost of insuring a wrecker varies substantially, as many factors can affect the rates operators pay. Insurance companies often look at the:
- Number of wreckers
- Each wrecker’s year, make and model
- Type of towing service offered
- General area serviced
- Kinds of roads serviced
- Operator’s experience
Where can tow truck operators in Texas find tow truck insurance?
If you need help insuring a wrecker that’s in Texas, contact the independent insurance agents at Ramey King Insurance. We’ll help you identify what coverages your wreckers should have, and then compare policies that meet those coverage requirements. Together, we can find the best tow truck insurance option for you, your equipment and your business.
Questions?
Give us a call, we'll help set you in the right direction.