On-Hook Towing

Coverage Name: On-hook towing insurance

What it Does: On-hook towing is essentially vehicular cargo insurance--it covers against damages that might occur to a customer's vehicles while it's being towed by a tow truck or transported by any type of auto hauler. (If you live in Texas or Virginia, this service is actually refered to as Garage Keepers, while traditional Garage Keepers is called Storage Location insurance). If you've got a hook, this one's worth a look!

Who Needs It? Any business that offers some type of towing service or auto transportation service. So roadside assistance companies, car repair businesses, tow yards, auto dealerships and car carrier services all benefit from on-hook towing.

Optimal Levels: Optimal levels are set around what the average accident might cost in terms of vehicle repair while they're loaded on towing equipment. So if your limit was set at say $15,000 per vehicle, you'd have that much possible payout toward any one accident, minus a set deductible level associated with each claim. Deductibles are similar to auto insurance deductibles and might be something like $500 per claim.

On-hook towing is an augmentation to commercial vehicle insurance to any tow truck, wrecker or auto transportation vehicle. Simply put, it covers damages that might occur to customer vehicles while they are being transported by your company’s vehicle, whether in an accident or caused by user error of the larger vehicles.

On-hook is beneficial to any business that moves customer vehicles. Auto mechanics, tow yards, car carrier companies that work with auto dealerships–all of these businesses can benefit from having their vehicles covered with on-hook towing.

With on-hook towing added to your policy, you simply set a maximum level of coverage per incident, a common level of coverage for example might be around $15,000. ┬áLike auto insurance, there’s also usually a deductible associated with each claim made for a customer vehicle.