We Will Shop Your Tow Truck Insurance in St Louis Missouri for You!
MJM Insurance of St Louis City helps business owners with their transportation insurance needs. Our licensed agents have the knowledge that is needed to help to truck owners and operators understand the different options, and requirements, for Tow Truck Insurance in St Louis Missouri. We work with a variety of towing service companies throughout the St Louis area including Saint Louis and Jefferson counties, Chesterfield, High Ridge, Arnold, Imperial, Valley Park, Ballwin, Eureka, Pacific, House Springs, Hillsboro, Sunset Hills and St. Clair.
Tow truck service companies and individual owner operators MUST carry tow truck insurance. Failure to keep the minimum insurance requirements on your tow truck could result in fines and/or you could have your commercial driver’s license suspended. Our agents can help you get on track so you do not risk losing your livelihood. As a your partner, it is important to make certain you and your business are protected if there should be an accident.
For current business owner and operators, our agents will begin by reviewing your existing policy and assess any potential risks. A Tow Truck Insurance policy should include the standard forms of liability insurance that all motor vehicle owners are required to carry by Missouri law. Those insurance coverages include Bodily Injury – in case you cause an accident, Property Damage covers your legal responsibility for damages, Fire and Theft Coverage, Collision and Comprehensive Coverage and Uninsured/Underinsured Motorist Coverage.
Let’s use this scenario for example:
Employee #1, a 42-year-old male, tow truck driver had loaded a disabled vehicle onto a flatbed truck by pulling the car onto the bed via the truck winch. When the employee attempted to disengage the vehicle from the winch, the steel cable snapped and the vehicle fell down onto the bed. The employee’s left arm was struck and fractured by the vehicle’s right front tire as the vehicle fell. The employee was transported to a local hospital, where he underwent surgery for a fractured left forearm.
Employee #1 is a direct employee of the employer who operates a vehicle towing service. Who do you think is responsible for the medical bills in this case? What if the employee is out of work for an extensive period of time? As for the property, who will pay for the vehicle that was damaged when it fell from the winch. Who is liable for the cable that snapped?
The answer to these questions are what business owners need to understand, not just in the short scheme of things. As your agent we look at the overall big picture. There is much more risk to owning and operating a tow truck business than most realize.
If a business has employees, it is the law to carry worker’s compensation insurance. Worker’s Compensation Insurance will protect you and your employees. The inability of an employer to meet financial obligations of work-related injuries will directly impact the entire financial stability of the company.
Missouri tow truck insurance coverage options vary among Insurance Carriers, so it is important that you work with a licensed agent that represents multiple, top-rated Transportation Insurance Companies. With access to multiple carriers, MJM Insurance of St Louis City can customize your Business Auto and Legal Liability policies to fit your Towing Service business needs.
Our agents can help you identify specialized coverages
that your business may require.
On-Hook Towing Insurance
This coverage will help pay for damages to vehicles you are towing. The on-hook coverage is generally provided by the garage keepers’ legal liability (GKLL) endorsement (see below). The GKLL limit is a blanket limit that applies to all towing vehicles on the policy.
Garage Keepers Legal Liability Insurance
This will cover vehicles you are storing for clients. The GLL insurance is usually provided as an automatic endorsement that is added to the Business Auto coverage. This liability coverage covers loss of, or physical damage to vehicles being towed, and while in your care, custody, or control and is designed for towing and wrecker service businesses. As mentioned above, the on-hook coverage of garage keepers’ legal liability insurance provides coverage for a non-owned vehicle that you are towing.
Motor Truck Cargo Insurance
Motor Truck Cargo insurance is provided via an endorsement to insure items other than motor vehicles licensed for road use. This coverage provides legal liability for towing companies while transporting property (cargo) of others. Since the towing operator is seen as a common carrier, they are responsible for the safe delivery of the goods they are transporting (customer’s vehicles and the contents of the vehicle), and thus owe a very high degree of care to their customer.
Business Income & Extra Expense Insurance
Business income insurance & expense coverages will reimburse your towing business for loss of income and profits if your property is damaged from a covered peril and out-of-service. The coverage continues until the property can be restored or replaced, or until the limit has been reached. The extra expense coverage includes extra expenses that business must make during the time of loss such as rent, mortgage payments, taxes, and utility services.
Miscellaneous Property Floater
A miscellaneous property floater covers your business personal property that is in transit such as tools and other cargo that you have in your tow truck. This coverage will protect against risks of direct physical loss or damage to your scheduled covered property.
MJM Insurance of St Louis City is a supporting member of the Missouri Association of Insurance Agents and committed to the Trusted Choice Pledge. Our agents go above and beyond just insurance – we help our clients understand the options available to protect their investment … and we work to earn the trust of our clients.
Contact us today for a free evaluation of your current policy.
Tow Truck Commercial Insurance Filings
Because the transportation industry requires different trucking operations to file different documentation, our agents are here to help our clients with the State and Federal Transportation Insurance Filing Forms including those listed below.
Before diving into the different requirements, understanding the following definitions may help you get a clearer picture of these requirements:
- Motor carrier – A company that transports passengers or property for compensation.
- Freight forwarder – An individual or entity that provides transportation of property AND:
- Assembles and consolidates shipments and performs distribution operations of the shipments.
- Assumes responsibility for the transportation from the place of receipt to the place of destination.
- Uses a rail, motor carrier, or water carrier for any part of the transportation.
- Freight broker – An individual or company that arranges transportation of property by a motor carrier.
BMC-32 filing | BMC-34 filing | BMC-91 & BMC-91X filing | MCS-90 form
Form E filing | Form F filing | Form H filing | Form K filing
Tow Truck Insurance Resources
Federal Motor Carrier Safety Administration | www.fmcsa.dot.gov
US Department of Transportation | www.dot.gov
The National Transportation Safety Board | www.ntsb.gov
Directory of State Patrol and State Police | https://www.statetroopersdirectory.com