Tow Truck Insurance in New Hampshire

Also providing tow truck insurance to residents in Massachusetts, Maine, Rhode Island, & Vermont.

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What is tow truck insurance?

For tow truck operators in New Hampshire, the job comes with its share of hazards. Accidents, damage to a wrecker, damage to a towed car and theft are just a few of the risks that operators must account for and protect against. Insurance certainly won’t do anything to prevent these from happening, but tow truck insurance could provide valuable financial protection when something does go wrong.

Tow truck insurance is specialized commercial coverage for businesses that operate tow trucks. Policies typically include protection for the wrecker, vehicles being towed, and the business.

Which businesses in New Hampshire may need towing insurance?

In New Hampshire, most businesses that operate tow trucks require towing insurance. Not carrying insurance can lead to disastrous financial problems.

This most obviously applies to tow truck operators who only tow vehicles, but the need for a tow truck policy is hardly limited to these operators. Some examples of businesses that might need this insurance include:

• Standard towing operators
• Heavy-duty towing operators
• Service centers with a wrecker
• Mechanics with a wrecker
• Impound lots

What types of insurance are available for heavy-duty wreckers?

When insuring heavy-duty wreckers that tow semi-trucks, fire trucks and large machinery, special insurance considerations come into play. These trucks may exceed the normal parameters for what standard tow truck policies provide, and the value of the vehicles towed can be much higher than normal. 

Operators of heavy-duty wreckers should consult with an insurance agent who has expertise in tow truck policies. A specialist can assist operators with determining coverage requirements, and selecting high enough limits for each coverage. 

What coverages do tow truck policies typically include?

Depending upon their specific terms and features, tow truck policies can come with a variety of coverages, often including:

• Physical Damage Coverage: Could cover damage to the insured wrecker(s) from collisions.
• Comprehensive Coverage: Could cover damage to the wrecker from incidents such as animal collisions, falling tree branches, fire, hail and theft.
• On-Hook Towing Coverage: Could cover damage to vehicles being towed while they’re attached to the wrecker.
• Garage Services Coverage: Could cover damage to towed vehicles while they’re in a garage, a service center, or an impound lot (i.e. not on the wrecker).
• Tow Truck Liability Coverage: Could cover third-party injuries and property damage in the event of accidents.
• Medical Payments Coverage: Could cover medical expenses arising from injuries caused by accidents.
• Uninsured/Underinsured Motorist Coverage: Could cover accidents involving drivers who lack adequate insurance coverage.

There are still many other coverages that are available and towing operators might want.

Can vehicle transporters use a towing insurance policy?

While vehicle transporters might need some of the coverages provided by tow truck policies, the requirements of transporters typically surpass those of towing services. For this reason, transporters typically require a different commercial policy that’s more attuned to their overall needs.

An agent experienced in serving towing service providers should also be able to help vehicle transporters find suitable coverage.

What are the costs associated with insuring a tow truck?

Insurance costs for tow trucks can vary, as they are influenced by multiple factors. Some elements that commonly affect the cost include:

• The number of wreckers being insured
• The year, make, and model of the wreckers being insured
• The service areas of the towing services
• The types of roads on which services are provided
• The experience and driving records of the drivers
• The company’s past insurance claims history

How can towing operators in New Hampshire find tow truck insurance?

If you’re a tow truck operator in New Hampshire and need help with tow truck insurance, reach out to the insurance agents at Insurance24. Our agents will work closely with you to identify a tow truck policy that protects your wrecker well.