Tow Truck Insurance Pennsylvania

Tow Truck Insurance Pennsylvania — Lower Rates Now Available!

Need a great deal on Tow Truck Insurance in Pennsylvania? If so call Pathway Insurance by dialing 1-800-998-0662 Monday through Friday 9 AM to 5 PM Eastern Standard Time or click on Tow Truck Insurance Pennsylvania to request Pennsylvania Tow Truck Insurance Quotes 24 hours per day throughout the state.

It may be possible to save thousands or tens of thousands of dollars each year by requesting quotes from our company, but those savings do not come at the cost of poor service.

We strive to provide the best in service and by choosing our agency to care for your business insurance needs you will quickly see the difference. For example, if you need a certificate of insurance those are normally sent out within minutes, not hours, or days as is the case for some of our competitors.

In addition, we offer an automatic shopping service to help you keep your rates low. If you receive a rate increase or your policy is cancelled we will be quick to find alternatives for your company.

You can request quotes by phone, chat, or by using our online rate quote submission system that is available around the clock. Choose your city in Pennsylvania below to request quotes and information:

Pathway Insurance is a leading insurance agency offering Tow Truck Insurance in Pennsylvania, Ohio, Maryland, West Virginia, Virginia, South Carolina, Georgia, Florida, Alabama, Mississippi, Tennessee, Kentucky, Indiana, Michigan, Illinois, Wisconsin, Minnesota, Colorado, Missouri, New Mexico, Texas, Arizona, and Alaska.

Types of Tow Companies We Insure:

New Companies
Repo Companies
Companies with Claims Issues
Companies Canceled by Their Insurance Company
Companies with Young Drivers
Companies with an Excellent Claim and Driving Record History

Who Gets the Best Rates for Pennsylvania Tow Truck Insurance?

Great question. That depends on a number of factors, including the number of years in business; how many trucks and drivers; the claims; accident; and moving violation history of your drivers; the age of your drivers; the types of towing you offer; whether you offer towing in neighboring states; your radius of operation; the age of your vehicles; the amount of coverage you need; and your personal credit history.

Why is your personal credit a factor in your premium rates with some insurers? A number of years ago, certain insurers began to test credit scoring to predict future claims activity for personal auto and home insurance. These particular insurance underwriters found a direct correlation between an individual’s credit score and their claim activity.

What was discovered is that those drivers or homeowners with a very poor credit score turned in significantly more claims on average and were more likely to be unprofitable to the insurers.

This strategy has also been incorporated into commercial automobile insurance for towing companies. Not all insurance underwriters use credit but some of the biggest companies do. If you have excellent credit you will receive a significant discount. If your credit is very poor you will pay much more money for your insurance.

Credit scoring is not allowed in all states. That raises an important question: is credit scoring for insurance allowed in Pennsylvania?

The answer is: absolutely. As a tow truck company owner, it will behoove you to make sure that you take measured steps to improve your credit score if your credit score is not so good right now because it could save you thousands or tens of thousands of dollars in lower premiums for better credit scores. Does that make sense?

What if you have a very bad credit score right now? Don’t worry. You may not necessarily qualify for the best discounts but there are a handful of insurance underwriters that do not use personal credit yet. Still, you can count on that coming to all insurers very soon so, as was mentioned, take steps right now to work on improving your credit score.

Visit this website – Understanding and Improving Your Credit Score – to request a free copy of your credit report and to learn about tips to improve your credit.

Tow Truck Insurance Pennsylvania — What Coverage Is Needed?

The answer to that question is dependent upon your financial circumstances, what the state in which you operate requires, and your individual desires and beliefs as a company owner.

Example A: Acme Towing owns 50 tow trucks and employs 100 drivers. They operate around the clock, generating $15 million a year in annual revenue and the owner makes $5 million per year in profits.

Example B: Fly-By-Night Towing is run by Joe Blow. Upon occasion, he shows up at the scene of accidents to offer tows, and only on the weekend. Joe works at the local factory full time and towing is only a part time job to pick up a few extra dollars.

Which company needs more coverage? The answer is obvious. Acme Towing would need significantly more liability coverage because they have so much more to lose versus Fly-By-Night Towing run by Joe Blow.

A mistake that can have significant financial ramifications is when Acme Towing does not purchase enough insurance. For instance, would $1 million of liability coverage be enough to protect their financial interests if one of their drivers caused a fatality or serious injury?

Likely not. Our fictitious company, Acme Towing, could quickly find themselves going through bankruptcy protection if they only had $1 million of coverage but a court awarded the plaintiff $5 million in damages due to the negligence of a driver who caused a fatality.

Does that make sense?

As a business owner you need to ensure that you choose the right coverage. This is not something that we can do for you personally; the amount of coverage you choose is a decision that is completely up to you.

Tow Truck Insurance Pennsylvania — Should You Report Every Claim That Occurs?

That’s a great question. We buy insurance to care for claims as they occur, isn’t that true?

Let’s consider an important question for you to ponder. This question is especially important if you are a new business owner.

Should you turn in every single claim that is caused by either yourself or your drivers? We would like to answer that question by sharing an example of what happened to a real tow truck company.

All names have been changed to avoid any likeness to actual individuals and some liberties have been taken to set the stage and fill in details on what may have transpired, but this is how one tow truck company that was making over $1.5 million a year and providing a very nice living for its owners went out of business.

As was mentioned, this scenario is based on a real situation. Some elements are fictitious, yet the end results are the consequences of reporting every single claim that happened. Let’s see what happened to this financially prosperous towing company.

Tow Truck Insurance Pennsylvania — Frigid Tower Towing Service Part 1

Tow Truck Insurance Pennsylvania

Marge and her husband Ronnie decided to open their very own repair shop in their early twenties, figuring it’s better to work for themselves than to work for others. Ronnie was trained in mechanical work by his father, who was a specialized diesel mechanic, and Ronnie is a mechanical prodigy; he can fix anything mechanical, especially automobiles, trucks, and large commercial vehicles.

Ronnie was also trained by his father to be honest in his business dealings with others and this bit of advice was very useful as it served to build his business based on referrals from other customers.

Everyone knows that an honest mechanic is worth his weight in gold.

Marge helped Ronnie with paperwork, insurance, and dealing with various vendors but she soon began to become a little restless. Not bored, exactly; just restless. Marge wanted to have a bigger role in business and felt that she could in some way add to the family household income.

One Saturday afternoon she was having lunch with one of her best friends, Samantha Taylor, who just so happened to work for one of the largest auto clubs in the area.

Marge laments to Samantha, “Sam, to tell you the truth, I’m a little bored working at Ronnie’s shop. I’m thinking about maybe starting up my own business or going to work for someone else. I like helping Ronnie but it’s so boring. Ronnie’s tried to show me how to do some mechanical work but I’m all thumbs and I don’t like getting greasy!”

Samantha replies, “Why don’t you guys buy a tow truck and I’ll see if I can get you a contract with our motor club.”

“A contract with the motor club? You mean when somebody breaks down and they call your company you guys send out a tow truck? I thought your company owned all those tow trucks?”

“No, no, silly. We contract with local tow truck companies and pay them a set price for each tow. Now, that might be something you can do Well, not driving the tow trucks, of course, but you could hire a driver and do the dispatching yourself.

Samantha continues, “I’ll tell you, the tow truck companies we do business with are pretty busy and that might be just what you need to pass time. And since I’m in charge of contracting, you know,” Samantha raises her glass of ice tea to Marge and smiles, “I would put you in the front of the line, girlfriend. What are friends for?”

“I really appreciate that, Sam. You’re a good friend. That is something to think about. How much do you pay your tow truck companies for a tow?”

After Samantha shares that information they engage in other girl talk. Later they say goodbye and Marge promises Sam to talk to Ronnie about adding a tow truck operation to the repair garage business. It seems like a good idea.

Truth be told, as Marge is driving home she’s excited about the possibility of running her own business separate from Ronnie, though not because she has a bad relationship with her husband. In fact, he’s a great husband and they hope to have children sometime in the foreseeable future.

Later that evening Marge shares the idea with Ronnie to gauge his reaction.

“I think that’s a great idea, Margie. In fact, I’ve kind of been thinking about that in the back of my mind. It kind of makes sense. Since our garage is doing well it would be nice to have some tow trucks to offer towing as an extra service, and if we can get some contracts with the motor clubs that might help us get some additional work for our shop…

“I’ll tell you what I’ll do. I’ll make a few phone calls, but since this is your idea it’s going to be your baby, 100%. I’ll help you out where I can but I think it would be a good idea for you to run this new business.”

Marge is beyond ecstatic. She expected Ronnie to shoot down her idea but now he’s given her his full blessing. With a little bit of help from him because he knows the mechanical side of the business, she’s excited to get started.

In our next post, Tow Truck Insurance Philadelphia, we will find out how Marge’s company grows.

Tow Truck Insurance Pennsylvania — Great Rates & Better Service!

Those wanting a better rate on Tow Truck Insurance in Pennsylvania should call us right away by dialing 1-800-998-0662 or clicking Tow Truck Insurance Pennsylvania to request Pennsylvania Tow Truck Insurance Quotes 24 hours per day.

One of our preferred carrier underwriters offers great savings to certain towing operators compared to other underwriting companies and you could reduce your premium rates by thousands or tens of thousands of dollars.

Cheap Tow Truck Insurance Rates in Pennsylvania do not mean poor service with Pathway Insurance.

We offer best-in-service practices which means we answer the telephone with live representatives (no frustrating auto attendant systems) and we always return phone calls promptly if you just so happened to need to leave a message.

When you choose Pathway Insurance for your business insurance needs you will see a big difference in service. Certificates of insurance when you need them are normally sent out within minutes, not hours or days compared to other agencies.

For example, one customer left us for another agent because they promised a better deal. That deal did not happen, and this former customer called us to come back, stating that it takes the other agency days to send out a simple certificate of insurance. This customer is returning to us because, as we correctly pointed out, there is a world of difference in service when you buy insurance with the A team (us) versus other agencies.

We also make it super easy to obtain quotes and information. For instance, you can receive quotes by phone, chat, email, or by using our online rate quote submission system that is available 24/7.

Pick the city in Pennsylvania where you do business using one of the links below: