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Tow Truck Insurance coverages available in Idaho.BODILY INJURY/PROPERTY DAMAGE COVERAGE (BI/PD) Bodily Injury Liability provides coverage in the event a covered Tow Truck causes injury or death to another person and the insured is considered at-fault for the accident. It covers expenses related to medical costs, lost wages, sickness, death and pain and suffering for an injured third party. It also covers legal defense costs related to claims against covered damages. Property Damage Liability provides coverage in the event a covered Tow Truck causes damage to any property and the insured is considered atfault for the accident. It also covers legal defense costs related to claims against covered damages. Available Limits: 25/50/15 100/300/50 100 CSL 500 CSL 50/100/25 250/500/100 300 CSL 750 CSL 1,000 CSL Rules: • The BI/PD limits must be the same for all vehicles on the policy. Tow Trucks Insurance.com will not write multiple policies for the same named insured. • Limits of 750 CSL and 1,000 CSL are not available if any driver does not meet our qualifications based on driving record. UNINSURED MOTORISTS BODILY INJURY COVERAGE (UMBI) UMBI is a policy level coverage that provides coverage for damages which an insured is legally entitled to recover from another party who is considered at-fault for an accident, but is uninsured for the level of damages. Available Limits: 25/50 100/300 300/300 750/750 50/100 250/500 500/500 1,000/1,000 100/100 Rules: • Can only be written in conjunction with BI/PD or Non-trucking. • Limits cannot exceed BI/PD limits. • Limits may be lower than BI/PD limits. Coverage may also be rejected entirely, provided the customer signs the appropriate form. • Limits must be the same for each Tow Truck of a multi-Tow Truck risk. UNDERINSURED MOTORISTS BODILY INJURY COVERAGE (UIM) UIM is a policy level coverage that provides coverage for damages which an insured is legally entitled to recover from another party who is considered at-fault for an accident, but is underinsured for the level of damages. Available Limits: 25/50 100/300 300/300 750/750 50/100 250/500 500/500 1,000/1,000 100/100 Rules: • UIM can only be written on vehicles with UMBI. • Limits cannot exceed BI/PD limits. • Limits may be lower than BI/PD limits. • If selected, limits must match UMBI limits. MEDICAL PAYMENTS COVERAGE Med Pay provides coverage for certain medical and funeral expenses for all those occupying a covered Tow Truck involved in an accident regardless of who is at-fault. Available Limits: 500 1,000 2,000 5,000 Rules: • Available on power driven vehicles only. • Can only be written in conjunction with BI/PD or Non-Truck. • Limits must be the same on all covered vehicles of a multi-Tow Truck risk. • Coverage limits are per person and not per accident. • Coverage is optional. PHYSICAL DAMAGE COVERAGE Collision provides coverage in the event of a loss or damage to an insured Tow Truck caused by a collision or overturn. Collision must be written with Comprehensive or Fire & Theft with CAC. Comprehensive provides coverage in the event of a loss or damage to an insured Tow Truck caused by incidents other than a collision. This includes damages due to fire, theft, vandalism, windstorm or contact with an animal. Fire and Theft with Combined Additional Coverages provides coverage in the event of a loss or damage to an insured Tow Truck caused by a specific occurrence. The damage or loss must be caused by: fire, lightning or explosion; theft; windstorms or hail; earthquakes; flood or rising waters; vandalism; while being transported by a third party; or by a collision with an animal. Available Deductibles: 100 250 500 1,000 2,500 5,000 Rules: • Eligibility for Comprehensive coverage is determined by Tow Truck type. • Comprehensive or Fire and Theft with CAC can be purchased without Collision coverage, as long as BI/PD is also purchased. • Physical Damage Only policies can be written. The limit of liability and rate are based upon a Tow Truck’s Stated Amount (not cost new). The Stated Amount on a Tow Trucks Insurance.com Insurance policy should reflect a Tow Truck’s current retail value including any special or permanently attached equipment. Using Stated Amount provides a superior value by allowing our insureds to customize their policy to accurately capture a Tow Truck’s true value. The easiest way to establish a Stated Amount is to consult a book publication. Other possibilities include consulting with a dealer/manufacturer or checking Internet sites. When determining Stated Amount, remember to take condition, mileage and location into consideration. Also consider any Tow Truck upgrades, engine or major component rebuilds that could further increase a Tow Truck’s value. Possible resources include: • Valuation Publications & Internet Sites - Truck Blue Book, truckpaper.com, tradeonline.com • Dealerships - What is the current retail value of the Tow Truck? • Manufacturers - What is the special or permanently attached equipment worth? • Lending/Financial Institutions - What is the current Blue Book value of the Tow Truck? • Market-Value Software - N.A.D.A. (possible fee involved for the software) A Stated Amount must be maintained to remain accurate. Tow Trucks Insurance.com encourage you to regularly review the values of any insured vehicles and modify Stated Amounts accordingly. Unlike personal auto, the commercial auto market is very dynamic. Tow Trucks Insurance.com does not automatically depreciate Stated Amount. Rules for Stated Amount: • A minimum value of $5,000 will apply for rating purposes. (This minimum does not apply to trailers.) • Passenger autos, pickups, vans, utility vehicles or trailers valued over $125,000 must be submitted for approval. • Trucks, buses or motor homes valued over $200,000 must be submitted for approval. • The customer is responsible for determining the appropriate amount of coverage. In the event of a loss, our policy pays the least of the stated amount, actual cash value, or cost to repair or replace. |