Oct 232015

Tow Truck Insurance Farmington Hills Mi – Fast Quotes and Great Rates!

Tow Truck Insurance Farmington Hills MiFor the best rates and even better service on Tow Truck Insurance in Farmington Hills Mi and the nearby areas contact us today!

You can call us Monday through Friday 9 AM to 5:30 PM at 800-998-0662 to speak with one of our licensed trucking specialists. If you need us after hours click on Farmington Hills Tow Truck Insurance Quotes.

Farmington Hills Tow Truck Insurance – This is What Happens When Coverage Is Missing.

In our last article we continued the story of Steve and Archibald’s foray into the world of owning a towing business. Steve was towing a hot new sports car when he started to feel a little sleepy. Remember that the purpose of this scenario is to illustrate the importance of purchasing all of the right coverage, even when some of it is technically optional. So, without further ado…

Steve’s Eyelids Begin to Sag…

Steve’s eyes were only closed for what seemed like a second, but that was all it took. He smashes his tow truck into a metal median, causing serious damage to the front of the truck. The momentum causes the sports car to lean to one side and detach from the hook, leaving it to roll into a nearby ditch.

Steve’s seatbelt saved him from any significant injury but he still had to stay overnight in the hospital for a couple of minor fractures.

All told there was about $38,000 in damage to the tow truck, $24,298 to the sports car, $2,000 for repairs to the telephone pole, and of course, Steve’s hospital stay amounting to $12,872.

Starchy Towing submits an insurance claim. A few weeks later their insurance company notified them that they would be covering the following amounts:

  • $37,000 for damage to the tow truck (after a $1000 deductible)
  • $2,000 for the damage to the cement truck
  • $0 for the damage to the sports car
  • $0 for the hospital bill

Why Didn’t The Insurance Company Pay for the Sports Car or Hospital Bill?

When Steve and Archibald started their company they did not think they could afford the extra insurance premiums so they skipped on three important types of coverage:

  • On Hook Insurance
  • Medical Payments Insurance
  • Workers Compensation Insurance

Ignoring the above coverage ended up costing their new company over $37,000 in out of pocket claims settlements.

Needless to say, Starchy Towing went out of business. Steve and Archibald remained friends, however, and still chat at pottery class on Wednesdays.

Tow Truck Insurance in Farmington Hills Michigan

For questions about additional coverage, or anything else, give us a call today at 800-998-0662 Monday through Friday 9 AM to 5:30 PM (EST) or contact us online any time seven days a week by clicking Tow Truck Insurance Farmington Hills Mi.

In addition to Farmington Hills we also serve the following communities:

  • Tow Truck Insurance Clinton Township Mi
  • Tow Truck Insurance Canton Mi
  • Tow Truck Insurance Westland Mi
  • Tow Truck Insurance Troy Mi
  • Tow Truck Insurance Macomb Mi
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