Bottom line Wrecker Insurance...

[Mark3395]

I think i've read all the threads re insurance for wreckers, but don't find a clear answer...

Situation is I've got a nice M816 in Illinois.

I wish to use it only on my own mil vehs and tow others from time to time... not a commercial enterprise.

Max radius of 500 mi, and probably no more than 3000 miles per year.

Need to insure the truck, and apparently the hook.

It's not just a truck to drive around, but not a heavy use device so I don't look forward to $3k per year insurance.

So the question is: What are you paying to tow with your wrecker, and from whom?

Thanks.

Mark3395

 

[gimpyrobb]

I woke up in the E.R. after I got a quote for my "wrecker". I now have a 5ton recovery truck with historical insurance for $115 a year. Yes they have pics and know what it is. State Farm.

 

[papabear]

Mark...you have seen my operation and I think you know I run it right.

That El Cheapo insurance ain't gonna cut it when you are towing something and a bad thing happens.

I do not have insurance on my M816 because if it leaves the compound to help on a mission it is hauled to the area on a landoll.

If I could get the insurance I have on my civy heavy wreckers for 3K per year each I would kiss a friggin pig And then I would get freaky...LOL

 

[WyoDeuce]

Try State Farm. They insure my deuce with no problems, my agent just took pics. $150/year. I also had a semi for personal use before my deuce and even though it was huge they had no problem with it.

 

[BKubu]

I agree with PB. Historic insurance won't cover you to tow other trucks.

 

[atankersdad]

Bruce is right.. You need to sell it to me and get this problem off of your hands. Allstate has mine for 130 a year but not covered for towing.. Historical coverage...

 

[area52]

Start a small business and that way you can at least claim the 3k insurance payments on the taxes. Thats what I am doing.

 

[Scarecrow1]

Beware the historical route the limitations very from state to state some will not allow you to tow anything at all others won't let you drive it more then 4500 miles a year others you have to store them in a enclosed shelter.....I don't think you are going to have much luck playing the historical card if you intend to tow other peoples cars or trucks.. Be careful how you insure it so that your protected against the worst that can happen .

 

[wreckerman893]

I had my wrecker insured with Progressive commerical.....before the engine went teats up.
They knew it was a wrecker and that I would occasionally pull a vehicle with it.
I now have the M915 insured in the wreckers place and pay a little over 500 a year.
My plan is now to get a Holms kit and use the M915 to tow with. Already got a "trailer" policy that will cover me on that.
Creating a LLC and operating a business can help you pay for your hobby......but you can only lose money for five years before the IRS deems you a hobbist and you have to regroup.

 

[Nonotagain]

Creating a LLC and operating a business can help you pay for your hobby......but you can only lose money for five years before the IRS deems you a hobbist and you have to regroup.

Well ****, if that's the case then the Federal Government should be dis-banded since they couldn't run a snowball stand in the desert and make a profit.

 

[papabear]

I know I seem to be a worry wart..and I guess I am, but I just don't want to see or hear of anyone thinking they are covered and when that day comes when something tragic happens...they are left high and dry.

I run a fair sized wrecker outfit in South West Georgia and deal with insurance companies several times a day...everything from the tiniest POV to the largest tractor/trailer and heavy equipment.

Please listen to me....DO NOT misrepresent what your truck is or "shade the truth" in dealing with your insurance company.
As I said above...they may not actually check much up front...but when a claim is made and you are at fault...they will check every clause, every paragraph, every statement with a microscope and then they will get serious with the..."well that is not covered because"...routine.

I pay very hard for insurance and have an excellent safety rating / claims record but I still would rather pay up front than get ambushed and have a claim that would wipe me, the business and my family out.

I don't know about anyone else but I can't afford to fight legal battles with insurance companies or anyone else and if I can't afford to pay insurance on a vehicle either military or civilian than I will just not drive it on the road.
I darn sure don't want to hurt anyone and not be covered.

 

[area52]

Creating a LLC and operating a business can help you pay for your hobby......but you can only lose money for five years before the IRS deems you a hobbist and you have to regroup.

Have you confirmed this via a tax specialist or is this word of mouth?

Not trying to put you down but I have heard (word of mouth only) that you could lose money for longer than that?

Maybe I am comparing apples to oranges, cause one guy I work with is a plumber on the side and he has lost money for more than that.


Papabear - thanks for the caution.

 

[grizcty]

Well said Papabear

I am in the same boat, with my M936.
As, I too, have commercial wreckers.
And the LAST thing, I need.
Is Insurance Investigators, crawling up my hind end.
These investigators, sole purpose in life. (they make the IRS look like Cub Scouts)
Is to prove, that you are a fault.
Let it be: vehicle ownership, insurance, licenses, experience, maintenance records, or paperwork.

IF any person who operating/owns a MV wrecker.
Decides to stop, & help a disabled civilian vehicle out.
Let it be pulling someone out that is stuck, or just broke down with a flat tire.
He pulls over, and turn on your lights, or even hazards.
And, any type of accident occurs, or damage to recovered vehicle.(scratches, dents etc.)
OR, is even towing his OWN equipment, down the road.
He is putting all of his lively hood, his truck, and personal assets, all on the line!

A LEO, or DOT officer comes along,
And asks for your CDL, insurance card
Your considered running a commercial operation.
Guess what?
Your butt is in a sling.

DOT is turning into the Gestapo.
And there is a $ hungry Lawyer, hiding behind every tree nowadays.

If you NEVER to use the wrecker, as a wrecker.
Then you might be safe, running historical, farm plates & insurance.

The problem is.
A wrecker owner, very seldom turns down the challenge, to use his truck!

Just my opinion!

 

[Mark3395]

I've suffered a fire loss and have first hand experience of the screening process the insurance companies use to avoid payment... interesting the apparently small clauses you don't notice when they send the tiny print to you.

So I'll assure that I describe the vehicle and uses properly, and just bite the bullet and pay up.

Thanks much Papabear. I expect to be down there in the next couple weeks to recover that 35a2c from WR and will stop by. Hope to haul the SECM back with it.

Mark

 

[papabear]

We look forward to seeing you again Mark.

You are a good troop and all the fellers speak highly of you...that doesn't happen often...trust me.

 

[clinto]

We were discussing this again this morning and I was re-reading the thread and I am surprised so few chimed in.

I would really like to know how we are insuring these things. You never know what's going to show up in the yard next

 

[73m819]

We were discussing this again this morning and I was re-reading the thread and I am surprised so few chimed in.

I would really like to know how we are insuring these things. You never know what's going to show up in the yard next

HMM, sounds like something BIG is about to showup that requires insurance