Balsiger Insurance Review
If you’re thinking of starting a towing company or already have a towing business, you may be looking at all of your insurance options. Towing can be a lucrative business, but it’s also a complex one with unique risks. It’s important to understand these risks and your options when it comes to tow truck insurance.
Balsiger History
Balsiger Insurance operates as an independent insurance agency serving Las Vegas, Reno and Henderson, Nevada. The agency offers services throughout Nevada, but they offer insurance in other states, including Florida, California, Tennessee, North Dakota, Utah, Arizona, Montana, Idaho, Georgia, Texas, Oregon, Washington, North Carolina, Ohio, Minnesota, Indiana, Missouri, Pennsylvania, Colorado, Wisconsin, Illinois and New Mexico.
Keith Balsiger, President of Balsiger Insurance, has been working in the insurance industry for more than three decades. Today, Balsiger is one of the largest agencies in the U.S. and number one for new commercial insurance business.
Balsiger is a full-service agency that offers a wide range of insurance options, including tow truck insurance.
Balsiger Commerical Tow Truck Insurance
Balsiger understands the unique needs of tow truck operators. They offer insurance options to protect against these risks, such as:
General Liability
Every trucker needs general liability insurance to operate legally on the road. Liability covers the cost of injuries and physical damage to other parties in an accident.
On-Hook Insurance
On-hook coverage is also vital for towing companies. This insurance provides coverage for vehicles being towed. If an accident or other covered incident occurs, on-hook would cover the cost of repairs or replacement to a vehicle being transported.
Medical Payments
If an accident occurs, medical payments insurance would cover the cost of medical care for drivers and passengers of the truck.
It’s not uncommon for tow truck drivers to also provide transportation to the owners of the vehicles they’re towing. If an accident occurs and the passenger is injured, medical payments will ensure that their medical care is covered up to the policy limit.
Physical Damage
A physical damage policy will cover the cost of damage to your truck(s) regardless of who was at fault for the accident. If you financed the purchase of your truck(s), physical damage coverage is typically required by the lender.
Comprehensive
If your truck is damaged in an accident not involving a collision, comprehensive can cover the cost of damages. Although comprehensive is important (often required when financed) for new vehicles, it’s still a worthwhile coverage for older trucks. If your truck is damaged by an animal, falling object, hail, theft or other covered incident, insurance would cover the cost of repairs.
Uninsured or Underinsured Motorist
If you are involved in an accident with an underinsured or uninsured motorist, this insurance would provide compensation. This coverage would also provide protection in the case of a hit-and-run incident.
Garage Service
Many towing companies also offer in-house service and roadside repair. In these cases, garage service insurance is critical. This type of insurance covers damage to vehicles that you’re servicing.
Balsiger Insurance Specializes in Tow Truck Insurance
Many towing company owners feel overwhelmed by the many insurance coverage options available to them.
Not having a full understanding of your risks can lead to costly gaps in insurance coverage. Ensuring that you have sufficient coverage requires the help of an experienced professional.
The agents at Balsiger Insurance know and understand the unique risks that towing companies and drivers face. They work closely with clients to ensure that their liability needs are covered.
Over the years, the agency has worked with dozens of towing companies, helping them find affordable rates, fill coverage gaps and secure sufficient coverage.
