Available Tow Truck Insurance coverages in Massachusetts
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. See the policy for full details.
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:
20/40/5
Compulsory 50/100/25
100 CSL
1,000 CSL
20/40/5
100/300/50
300 CSL
25/50/15
250/500/100
500 CSL
35/80/20
750 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.
• Compulsory BI/PD does not provide coverage outside of Massachusetts or where the public has no right of access.
• Optional BI/PD requires Compulsory BI/PD.
UNINSURED AND UNDERINSURED MOTORISTS COVERAGE (UMBI AND UIM)
UMBI and UIM 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 or underinsured for the level of damages.
Available UMBI & UIM Limits:
20/40
50/100
100 CSL
750 CSL
25/50
100/300
300 CSL
1,000 CSL
35/80
250/500
500 CSL
Rules:
• UMBI is mandatory when Compulsory BI/PD is purchased.
• Can only be written in conjunction with BI/PD or Non-Truck.
• Limits cannot exceed BI/PD or Non-Truck limits.
• Limits may be lower than BI/PD or Non-Truck limits.
• Limits must be the same for each power unit of a multi-Tow Truck risk.
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.
A Waiver of Deductible is available with Collision. If a Waiver of Deductible is selected, the Collision deductible will not apply when an accident
is caused by another identifiable driver.
Limited Collision pays for collision damage to the insured auto when the insured is not more than 50% at fault and the owner of the other
Tow Truck is identified.
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:
300
500
1,000
2,500
5,000
Deductibles need not be the same for all vehicles. Comprehensive and Fire and Theft with CAC are available with separate levels of glass deductibles,
including $0 and $100. For Limited Collision, a $0 deductible option is available.
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. Tow Trucks Insurance.com allow an Unlimited Radius on Physical Damage Only policies.
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 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 or other 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. Each time a policy term renews, you should review the values of all insured vehicles
and modify stated amounts as needed to ensure they remain accurate. 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.
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