Coverage Name: Collision
What it Does: Protects your vehicle from accidents with other motorists or objects in the case of single vehicle accident.
Who Needs It? Anybody who wants to protect their own assets in case they're involved in an accident on the road.
Optimal Levels: For collision coverage, levels will vary based on the type of equipment you're insuring and the regulated coverage levels set by your state which can also be contingent on vehicle type.
Collision coverage is important to consider when you’re selecting commercial truck insurance for commercial vehicles like tow trucks. While the law requires you hold liability for damage to other people’s health or property in order to operate legally on the road, protecting your own assets is not required by law.
Lots of tow truck drivers and businesses have gotten the minimum coverage regulated by law, only to find out that for all that money, their vehicle isn’t even covered if they cause an accident on the road.
Adding collision coverage will only marginally raise your premiums, but could save you thousands of dollars in damage if your larger commercial vehicles like tow trucks or roadside assistance wreckers are themselves involved in accidents.