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Whether you are a new operation or an existing Alabama Tow Truck company you are going to need insurance. The amount of insurance you need will depend on the scope of your operation as well as your operational area and the type of equipment you are using. Alabama law requires you to carry a certain minimum amount of insurance in reference to the parameters above.
Class A - Light Duty Wrecker [towing vehicles weighing 7,000 lbs. or less] Liability Limit - Minimum $300,000 Combined Single Limit On-Hook Limit - Minimum $75,000 Garagekeepers - Minimum $100,000
Class B - Medium Duty Wrecker [towing vehicles weighing between 7,000 - 17,000 or multiple vehicles weighing 7,000 lbs. respectively] Liability Limit - Minimum $500,000 Combined Single Limit On-Hook - Minimum $100,000 Garagekeepers - Minimum $200,000
Class C - Heavy Duty Wrecker [towing vehicles < 17,000 lbs.] Liability Limit - Minimum $75,000 Combined Single Limit On-Hook - Minimum $150,000 Garagekeepers - Minimum $200,000
It is very important that you maintain the correct amount of insurance to satisfy Alabama State requirements. This prevents you from interruptions in your towing business. It also prevents you from having to pay additional fees and fines for being non-compliant. However, purchasing enough insurance to satisfy the State of Alabama is one thing, buying enough insurance to protect you and your business is another. It is very important for you to assess your own level of risk. If you know that you will frequently be towing vehicles that exceed your towing class you would want to purchase more In Tow/On Hook coverage than the state requires. The same goes for your Garagekeepers Legal Liability limit. Having only the state minimum in coverage is not going to be enough if you regularly have vehicles in your possession that are worth far more than the state minimum. Ultimately it is important to discuss all of the characteristics of your business with your agent. That way we are able to make suggestions on coverage limits and additional coverage that may be more suitable for your business.
Barbee Jackson Insurance is a leading provider of Alabma Tow Truck Insurance and we work with the largest Commercial Auto insurance carriers to provide our clients the best coverage options for the best price. Our professional staff is always here to help…even if you insure with our competitors. Call today if you need any help understanding coverage options or if you are looking for a competitive quote, Call Us Today 850-389-2001.
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