Best Tow Truck Insurance Companies
The insurance industry is filled with many commercial tow truck insurance companies, and finding a carrier for your insurance policy is easy. Nonetheless, you need to filter the choices. Go for a carrier that can adjust the insurance plans to satisfy your coverage needs. If you're ready to purchase tow vehicle insurance, here are the best tow truck insurance companies in 2022.
CoverWallet Tow Truck Insurance
Pros
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Has an online quotes comparison platform for you to find the best tow truck insurance coverage
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No cancellation fees
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Cancel a policy anytime and get refunds
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Pay premiums and get proof of insurance online
Cons
CoverWallet’s tow truck insurance includes commercial auto, physical damage, personal injury, hired or non-owned auto, and uninsured/underinsured motorist coverages. Work with CoverWallet because you can cancel your policy anytime without any fees. Furthermore, the company, with its website and mobile app, allows you to pay insurance and get proof of insurance online.
Best for: Tow truck insurance quotes comparison online
Average cost: $440 per month
Our rating: 10/10
Thimble Tow Truck Insurance
Pros
Cons
Thimble offers tailored towing insurance that includes short-term general liability coverage. This company also allows towing businesses to add business equipment and commercial auto coverage. Just like CoverWallet, Thimble allows you to buy a policy, pay for premiums, and get proof of insurance online.
Best for: Tow truck insurance with short-term general liability coverage
Average cost: $450 per month
Our rating: 9/10
State Farm Tow Truck Insurance
Pros
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24/7 emergency roadside service coverage
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Provides discounted insurance rates
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Better-than-average customer satisfaction rating
Cons
Have you experienced a flat tire or require towing from an accident scene? State Farm provides reliable commercial towing insurance with coverage for break-down roadside assistance. When you request the service, a service provider will be deployed to help fetch your tow truck or have it running once again.
State Farm's emergency roadside service insurance covers a range of risks and liabilities, including mechanical labor costs (up to an hour), towing disabled vehicles to the nearest repair station, cost of items (gas, tire change, or battery) required to bring a wrecked vehicle to a drivable condition, and locksmith labor to unlock the covered tow truck.
Best for : Towing companies offering emergency roadside assistance
Average cost : $465.89 per month
Our rating : 8/10
Geico Tow Truck Insurance
Pros
Cons
If you’re looking for a carrier that offers help when the tow truck acts up, G eico is the best insurance provider for your towing business. The company provides convenient access to emergency road assistance coverage included in its semi truck towing insurance, and clients can request help via the Geico mobile app.
An upside to using Geico's app is that you can request assistance in two minutes, assistance solutions are available 24/7, a service tracker (to track when help is on the way), and a GPS locator that enables the company to pinpoint your exact location.
Geico's road service insurance offers coverage for emergencies, including towing to the nearest car maintenance/repair center, tire changes, locksmith services (up to $100), battery jump starts, and gas deliveries.
Best for : Tow truck fleet insurance
Average cost : $472.38 per month
Our rating: 7/10
USAA Tow Truck Insurance
Pros
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Cheap rates and many discounts
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Excellent choice for military service members
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Available nationwide
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High AM Best financial stability rating
Cons
If you're a military serviceman or veteran operating a tow truck business, look no further than USAA when looking for commercial vehicle insurance. The company offers you the right protection for any third-party liability or physical damages that may involve personal cars, buses, trailers, luxury cars, trucks, etc.
Established in 1922, the company has extensive experience in the insurance world. It works with professional, independent insurance agents who can help you assess any unique risks for your business and tailor the plan to your specific needs.
USAA also provides roadside assistance coverage, which typically covers flat tires, fuel deliveries, vehicle deliveries to the nearest repair shop, battery jumpstarts, towing your disabled tow truck, and unlocking the vehicle when your key is lost or locked inside the car.
Best for : Military service members running tow truck businesses
Average cost : $485 per month
Our rating : 6/10
Allstate Tow Truck Insurance
Pros
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Works with local insurance agents to offer personalized plans
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A+ AM Best financial strength rating
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Mileage-based discount policy
Cons
Allstate ranks among the top insurance providers for tow truck coverage. The company was established in 1931 in Illinois but has grown to provide coverage throughout the US.
Allstate tow truck insurance offers a range of coverage policies, including liability coverage (bodily injuries and property damage), collision coverage, comprehensive coverage (against fire, vandalism, hail, etc.), and underinsured/uninsured motorist coverage.
Allstate Insurance also runs the Allstate Advantage program designed to provide easy access to knowledgeable, local insurance agents who can assess your unique risks, help you choose the best custom package, and adjust them to suit your business.
Like Geico and State Farm, Allstate provides 24-hour roadside assistance. With this coverage, you get expedited roadside help 24/7.
Best for : Tow truck businesses looking for easy access to customer service online
Average cost : $487 per month
Our rating : 6/10
Progressive Tow Truck Insurance
Pros
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Excellent choice for high-risk towing businesses
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Simple quote process
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High AM Best financial stability rating
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Available in over 50 states
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Offers tailored wrecker insurance
Cons
Progressive is a reputable, go-to insurance provider for commercial trucking and towing companies. The company's tow insurance packages offer protection for third-party liability, medical payments insurance (fire and theft with CAC Insurance, collision, and comprehensive), and uninsured/underinsured motorists.
Furthermore, Progressive provides On-Hook insurance to cover the vehicle you're towing. There's also Garage Keepers Legal Liability (also known as Storage Location Insurance), which covers the disabled vehicle stored in your garage.
Best for: High-risk tow truck owners
Average cost: $490 per month
Our rating: 6/10
Nationwide Tow Truck Insurance
Pros
Cons
Nationwide Insurance was founded in 1925. The Columbus, OH-based insurance carrier provides dependable tow truck insurance coverage and add-ons. Your tow truck coverage from Nationwide protects you against liabilities (bodily injuries, medical costs, and property damage), collision coverage, comprehensive insurance (including natural disaster protection), medical payment coverage, and uninsured/underinsured motorist policy.
Although the company only offers insurance coverage in selected states, clients can have peace of mind knowing their plans are underwritten by an insurer with strong financial backing. Besides, it offers quality customer support with 24/7 claims reporting, which you can do by phone, local agent, email, mail, or online.
Best for : Towing companies looking for insurance backed by high customer care
Average cost : $505 per month
Our rating : 6/10
Liberty Mutual Tow Truck Insurance
Pros
Cons
Liberty Mutual is an insurance company that provides client-focused commercial auto and fleet insurance, including tow truck insurance. Dedicated to helping clients mitigate towing risks and exposures, Liberty Mutual offers coverage for liability, physical damage, collision insurance, comprehensive coverage, and uninsured motorists.
If your tow truck gets involved in an accident or requires 24/7 emergency roadside maintenance solutions, Liberty Mutual can help. Like other companies, this coverage caters to towing to the nearest car repair and service center, emergency fuel deliveries, changing flat tires, unlocking car doors, and battery jump starts.
With Liberty Mutual, tow-truck insurance buyers can add the "Liberty Mutual Deductible Fund " to their policies, enabling them to lower their deductibles annually to save on insurance.
Best for : Towing businesses looking to increase their insurance savings every year
Average cost : $507.13 per month
Our rating : 5/10
Farmers Tow Truck Insurance
Pros
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Available in all 50 US states
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Good range of coverage policies and add-ons
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A range of cost-savings and discount opportunities
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Well-reviewed mobile app
Cons
If you run your towing business on a contract basis, you should consider Farmers Insurance for your towing company insurance policy. Established in 1928 and headquartered in Los Angeles, CA, the company provides flexible insurance options to cover your liability risks, collision coverage, physical damage, and medical payment policy.
Besides its 90+ years in the insurance industry, Farmers boasts high financial ratings, having received an A, A+, and A2 ranking by AM Best, S&P, and Moody's respectively. Generally, Farmers offers quality insurance-underwriting services, but its dedication to providing tailored policies makes it one of the top tow truck insurance carriers.
Additionally, Farmers offers towing and roadside assistance coverage. All you need is to offer information about your emergency by filling out an online form, and the company will dispatch a qualified professional to offer mechanical help.
Best for : Towing contractors
Average cost : $511 per month
Our rating : 5/10
American Family Tow Truck Insurance
Pros
Cons
American Family Insurance, also known as AmFam, is an insurance provider with over 90 years of experience in the insurance sector. The company started as an insurance carrier, providing auto coverage to farmers in Madison, WI. Today, it offers a wide range of coverage options for companies across different industries.
It offers tow truck coverage as part of its suite of insurance plans under its property & business category. The policy provides basic commercial vehicle protection: liability coverage, comprehensive insurance, collision coverage, physical damage, and underinsured motorist insurance.
AmFam customers enjoy the convenience and improved customer services. The carrier provides the "MyAmFam " mobile app steeped with user-friendly features, including real-time payment status, road assistance, scheduled payments, claims reporting, policy changes, and instant proof of insurance.
Best for : Tow truck companies looking for quality online customer support
Average cost : $521 per month
Our rating : 4/10
Fred Loya Tow Truck Insurance
Pros
Cons
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High number of customer complaints and legal issues
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Clients can't get quotes or report claims online
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Doesn't provide 24/7 claim filing
The Fred Loya Insurance Company was established in 1974 in El Paso, TX. Although it's a relatively new insurance provider, Loya offers tailored tow vehicle insurance with protection that covers: third-party liabilities, physical damages to your tow truck, and collision insurance coverage.
However, it's worth noting that the company has faced lawsuits and customer complaints. In fact, Fred Loya has 400% more customer complaints than another insurer of its size. Besides, it doesn't offer any digital experience; it has no mobile app to facilitate remote insurance applications.
Loya is only available in 11 US states, with 726 locations. Most of them are clustered around Las Vegas, Los Angeles, and San Antonio. Furthermore, the company allows you to make payments online, but you can't get quotes online. Customers must partner with local insurance agents to buy insurance or file claims.
Best for : Tow truck insurance for businesses in Las Vegas, Los Angeles, and San Antonio
Average cost : $527 per month
Rating : 4/10
Where to Get Commercial Tow Truck Insurance Near Me?
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