Tow Truck Insurance

[Gaffney Insurance]

Does anyone have a suggestion to a good company that will write a tow truck, mobile auto repair, and recovery service in Indiana. I have found most of our companies will not write this company because of the 24 hour road side. They also do not have a repair shop. They have three box trucks along with other rigs but fix the vehicles onsite. I am looking for a BOP that I could write everything with.

Any suggestions.

 

[indienoise]

I guess it could be different in a different region, but in my area, recovery usually = repo, which is a whole other can of worms, which I'm sure you know. I've got a carrier who likes garages and auto-related businesses, and accepts incidental towing risks but if recovery is anywhere in the name or description, they won't touch it. Just something to keep in mind when you're searching for a market, if it even applies in your area.

 

[Aram Fingal]

I don't think the 24 hour towing is what is going to give you a problem. It's the mobile mechanic and repo business that the companies aren't going to like. Your choices are probably going to be limited, and the premium is going to be high.

There is also a very good chance you're not going to be able (or it may not be cost effective) to do this as a single BOP. The GL coverage is going to be a lot harder to place than the vehicle coverage probably.

Are they currently insured?

 

[jlanier]

The repossession portion is the most difficult part. If it is a business with no prior you will have to piece it - Berkshire Hathaway Homestate will write the tow trucks with repo including on-hook, Scottsdale will write the GL (wrongful repo is another necessity so be sure to ask for this).

If it is not a new business and they have 3 years prior - I have a broker out of Arizona that use a carrier for all parts (it's a company owned by One Beacon, I think Atlantic Casualty) and also State National will write this type of business.

There is a lot of premium on these cases but there is just as much work. Daily certificates, and endorsement request and in my experience - these guys do not pay well

 

[Gaffney Insurance]

Thanks for all the suggestions. One of the main problems is the company name which does have "towing & recovery" within the name. They don't really do any recovery anymore but it's still registered that way. As far as prior, the owner cancelled his policy back in March because he realized the agent wrote everything wrong. Vin numbers were off so the system wouldn't recognize the actual truck. Then that agent described the trucks as a smaller truck to get it through the system. Bad on both parts because he didn't go looking for a new agent.

 

[Aram Fingal]

One of the main problems is the company name which does have "towing & recovery" within the name. They don't really do any recovery anymore but it's still registered that way.

I have a client who still calls their business "<so and so> Farms", even though they don't do any farming any more and just do lawn maintenance. Makes it hard to deal with underwriting, you have to convince them they're not doing that any more. It's not that hard to change a business name, but having to change all the business cards, stationary, web pages, etc. etc. can be frustrating. So I understand why people are hesitant to change a business name but it can sure make our job harder.

 

[BlockO]

I think Progressive will offer commercial auto coverage, as long as the recovery/repo part is less than 50/50 vs. the towing part of it.

but I have no idea about where to find a BOP.

 

[Placementkid]

I was able to get Progressive to offer me the Roadside GL portion (no premises GL), on-hook, garagekeepers and the auto liability.

If you need any premises GL, you might need to approach a wholesale market for that portion.

 

[BADTROUT]

I have a Mercedes Sprinter bus with 19 seats. I am not engaged in commercial transportation. I use only for trips with friends on tours. The bus is equipped with everything that is necessary. There is insurance and GPS (the bus was on child transport). Tried to buy a total-insurance.co.uk policy on passengers, do not sell. They say only sell to a legal entity. So there is no other way to buy it? What should I do?

First off you should start a new thread. Of course in a new thread you wont be able to slip In an irrelevant hyperlink .

Also are you from the UK or should I ask, where geographically does your question pertain?