The insurance needs of tow truck operators are different from other truckers in Florida. Not only do they have to cover their trucks, but they must also secure additional protection for the vehicles they tow, as well. And the state-mandated minimums for mandatory coverage are very complex.
Add to this the other perils they face every single day, including damage to their business locations and the contents of them, job-related injuries, threats of fire, theft, weather damage, vandalism, and much more. Getting the right insurance — and the amount — to cover all these things can seem complicated. I’ll make the process of getting coverage simple for you.
This article will reveal the top 5 insurers for tow truck operators in Florida and explain everything you need to know to get the right coverage for your operation.
- The 5 best tow truck insurance companies in Florida
- Who need tow truck insurance in Florida?
- What kinds of insurance do Florida tow truck operators need?
- What are the tow truck insurance requirements in Florida?
- What other types of insurance do tow truck businesses need?
- How much does tow truck insurance cost in Florida?
- What factors affect tow truck insurance in Florida
- How to reduce your tow truck insurance cost in Florida
The 5 best tow truck insurance companies in Florida
- Progressive: Best Overall and for offering discounts to Florida tow truck operators
- biBERK: Best for low-cost tow truck coverage in Florida
- Simply Business: Best for great tow truck coverage at a fair price
- Commercialinsurance.net: Best overall buying experience
- The Hartford: Best for Florida tow truck operators who value integrity
Progressive: Best Overall and for offering discounts to Florida tow truck operators
Progressive, despite its silly commercials, is a legit company. It’s provided vehicle insurance in Florida and across the United States for 80-plus years. It is the number one commercial vehicle insurer in the U.S. That’s a clear sign that Progressive is doing something right. The insurer is known for its flexible coverage, great rates, and excellent service.
Progressive is also well-known for the discounts it offers. Getting coverage from it could be a great way to save on your tow truck business insurance. Florida tow truck operators can earn discounts for things like:
- Paying your premium all at once rather than monthly or quarterly
- Bundling your coverage
- Maintaining a perfect driving record
- Avoiding making claims
- Allowing Progressive to track your driving habits in real-time
- Agreeing to autopay your premiums.
Progressive makes it easy to get a quote online. You can buy online or secure your coverage through a licensed insurance representative. The whole process should only take 10 minutes or less.
biBERK: Best for low-cost tow truck coverage in Florida
If inflation has left your tow truck business strapped for cash, biBerk could be the ideal insurer for you because it’s a low-cost business insurance provider.
Despite saving money on your business coverage, you can feel confident knowing you’re getting quality protection for your tow truck operation. biBERK lowers insurance costs by approximately 20 percent because it insures small businesses directly, without the added costs related to working through an intermediary or insurance broker.
biBerk is a division of Berkshire Hathaway, a company headed by successful businessman Warren Buffett. It’s a firm with millions of satisfied customers that’s been insuring businesses for more than three-quarters of a century.
biBERK is one of the two companies offering tow truck quotes online, besides Progressive. If you are happy with their quotes, you can buy a policy online as well. The whole process shouldn’t take more than 10 minutes.
Simply Business: Best for great tow truck coverage at a fair price
Simply Business takes its name very seriously. It’s how the insurer conducts business. The company takes pride in making insurance for truck operators and others easy to understand, simple to buy, and affordable.
The firm was founded in 2005. It’s an online insurance brokerage representing many well-known and respected small business insurers.
No matter the size or scope of your tow truck insurance needs, Simply Business will help you find the right coverage at a fair price. With Simply Business, all you do is input information about your operation on the company’s website. Once you do that, it presents you with quotes from top insurance providers or requests that you connect with a representative over the phone to discuss your coverage. The multiple quotes generated by the Simply Business platform allow you to compare premium prices and coverages (and levels) and select the best insurance for your tow trucks.
Commercialinsurance.net: Best for knowledgeable agents
CommercialInsurance.net matches tow truck operators and other businesses in Florida and across the United States with insurance providers that fit their needs. The company was founded in 2009. It has a network of more than 200 insurance carriers, agents, and brokers. Commercialinsurance.net will save you time and effort by matching you for free with the agents how are most knowledgeable about your specific towing business.
CommercialInsurance.net is an online business insurance marketplace. It acts as a matchmaker that connects towing businesses with insurance agents that are most knowledgeable about specifics of towing businesses and can help find the best coverages at the most affordable prices. All you need to do is fill out a short form or call the company directly to be matched with agents representing such top small business insurance companies as Progressive, The Hartford, Liberty Mutual, and Gallagher.
The Hartford: Best for Florida tow truck operators who value integrity
The Hartford is one of the oldest companies in the United States. It’s offered insurance for more than 200 years, helping one million-plus businesses with their insurance needs.
The Hartford is known for its integrity. The Ethisphere Institute named it a World’s Most Ethical Company twelve times. It’s a firm you can feel good about entrusting your tow truck operation to.
The Hartford’s dedicated and highly experienced team is available to help you explore its commercial insurance options. If you decide to purchase coverage from The Hartford, you can rest assured knowing you’re entrusting your tow truck business to a strong, stable, knowledgeable, and ethical provider.
Who need tow truck insurance in Florida?
Examples of operations that typically purchase commercial tow truck insurance include:
- Auto body shops
- Auto club contractors
- Automobile mechanics
- Auto salvage haulers
- Roadside service providers
- Rotational towing operations
- Service stations
- Tow truck operators.
What kinds of insurance do Florida tow truck operators need?
Tow truck businesses in Florida must get these three coverages:
- Tow truck primary liability insurance, which pays for bodily injuries of the other driver and property damages of the other vehicle if you are involved in an accident and at fault.
- On-hook towing insurance protects vehicles against damage that happens when towing them.
- Garage keepers legal liability insurance covers towed vehicles while they’re parked on your business property.
Learn more at garage keepers insurance cost and the best garage keepers insurance companies
What are the tow truck insurance requirements in Florida?
Florida state requirements are a bit complex, but I’ll try to make them understandable.
Florida primary liability minimum coverage requirements for tow trucks
- Tow Trucks with a Gross Vehicle Weight (GVW) of less than 35,000 pounds must carry a minimum coverage of $50,000 Combined Single Limit (CSL). This limit applies per occurrence.
- Tow Trucks with a GVW of 35,000-39,999 pounds must carry a minimum of $100,000 CSL. This limit applies per occurrence.
- Tow Trucks with a GVW of 40,000 or more must carry a minimum of $300,000 CSL. This limit applies per occurrence.
Within these limits, Florida tow truck operators must maintain the following levels of coverage:
- A minimum of $50,000 in coverage for vehicles in tow or on hook.
- Personal injury protection with a minimum $10,000 combined single limit per occurrence.
Learn more at what are the tow truck insurance requirements in different states?
Florida garage keepers coverage requirements for tow trucks
- Florida tow truck operators must carry a minimum garage liability limit of $300,000 combined single limit per occurrence.
- They must also carry a minimum garage keepers legal liability limit of $50,000 for each loss, covering perils of:
- Fire and explosion
- Vehicle theft
- Theft of a vehicle’s parts or contents
- Damage from a riot, civil commotion, vandalism, and malicious mischief.
What other types of insurance do tow truck businesses need?
Other types of insurance tow truck operations typically buy include:
- Physical damage coverage pays for repairs to your tow truck when you’re involved in an accident, or it’s damaged because of a fire, vandalism, weather, or other event. It also protects you if you’re the victim of theft. This coverage is critical for protecting your livelihood if something unexpected happens to your truck. Learn more at trucking physical damage insurance coverage and the best trucking physical damage insurance companies.
- Medical payments insurance covers your healthcare bills and those of your passengers when injured in an accident.
- Uninsured motorist insurance covers injuries to you and your passengers caused by another driver who has no — or too little — insurance protection. It also pays for damage to your truck. This coverage also kicks in if you’re ever involved in a hit-and-run incident.
- Workers’ compensation insurance provides benefits, including payments for medical care, disability, and job retraining if you or an employee is injured or becomes ill for work-related reasons. Florida will likely require you to get workers’ comp if you have employees. Your insurer can let you know for sure. Learn more at the best workers comp insurance for truckers
How much does tow truck insurance cost in Florida?
The average cost of tow truck insurance in Florida was just about $460 per month in 2020. That is only for the tow truck primary liability insurance for a 40-year old driver with good driving history. If you add more coverages, the cost will increase accordingly.
Below are the average cost breakdown of different coverages that a towing business might need in Florida.
| Tow truck insurance coverages | Monthly average costs in Florida |
| Primary liability coverage | $460 a month |
| Non-trucking liability coverage | $30-$60 a month |
| Physical damage | Varies, depending on the tow truck value, usually 1-4% of the truck value |
| Trucking general liability coverage | $80-$125 a month |
| Workers comp coverage for truckers | $300-$500 a month for each trucker |
Use this number as a benchmark because many factors are considered when calculating tow truck insurance premium costs. Essentially, you’ll have a different rate. Be sure to shop around with a few companies to compare quotes before making your final decision.
- Getting quotes online whenever possible. Progressive and biBERK are the only two providers offering tow truck insurance quotes online. You may want to start there
- Work with a top broker like Simply Business or Commercialinsurance.net is another good way to compare several quotes in one place.
Learn more at how much tow truck insurance costs
What factors affect tow truck insurance cost in Florida?
Several factors impact the tow truck insurance cost in Florida. Some of them are: your business location in Florida, coverages, coverage levels, deductibles, type of towing you do, driving history, and number of claims. Whether you qualify for discounts, for example, for bundling your insurance coverages with a single provider, will also impact your premium prices. Also, today’s higher vehicle values are significantly inflating insurance premium costs.
How to reduce your tow truck insurance cost in Florida?
- First of all, it is important that you get quotes from several insurers and compare coverages and costs to ensure you’re getting the best possible coverage at a reasonable price. That’s the best way to save money on two truck insurance premiums
- Keep a good driving history. If you or your drivers have any violations on your driving record, work hard to have them removed as much as possible
- Keep up with routine maintenance
- Actively improve your credit score
- Ensure the accuracy of your driving logs
