How Much Insurance Does A Tow Truck Need In Indiana

How Much Insurance Does A Tow Truck Need In Indiana
by Arthur Williamson

In Indiana, tow trucks with a gross vehicle weight rating (GVWR) of 10,000 pounds need at least $750,000 of financial responsibility to perform emergency towing. This rule applies to both interstate and foreign moves. 

However, tow trucks providing secondary towing services might need extra insurance coverage depending on their cargo. Trucks transporting household goods, general freight, oil, and hazardous materials would need $300,000, $750,000, $1,000,000, and $5,000,000 worth of insurance, respectively.

Essential Tow Truck Insurance Coverages

Are you on the fence about what coverages your tow truck insurance policy should carry? We have you covered! While tow truck drivers have varying insurance needs, most policies should offer the following insurance protection:  

  • Comprehensive and collision coverage
  • Garage service coverage
  • Medical payments coverage
  • On-hook towing coverage
  • Physical damage coverage
  • Tow truck liability coverage
  • Uninsured or underinsured motorist coverage

Do not limit yourself to the minimum insurance requirements. While getting extra coverage might spike your annual premiums, skimping on your insurance compromises your entire business. Remember: tow truck drivers are responsible for their cargo.

Don’t forget to explore all your insurance options. Dozens of insurers offer tow truck insurance in Indiana, so you don’t have to trust the first brand that reaches out to you automatically. Compare at least three to four quotes as insurers have varying rates, feature different benefits, and cater to different types of trucking clients.

Are you planning to get a tow truck insurance policy elsewhere in the U.S? Perhaps California? Assured Standard has you covered! Check out our quick piece explaining the tow truck insurance requirements in California.

assured standard logo
Assured Standard will protect your business with the right insurance, depending on your needs. Now more than ever, it’s crucial to have the right general liability insurance experts on your side. Protecting the future of your business starts today.
Copyright © 2021 Assured Standard. All Rights Reserved.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram