We have seen the current market for towing insurance just go crazy. Even if you donât have any claims, the increase in premiums is at least 44%. What can be done?
The answer is simple: âtake the bull by the hornsâ and get away from standard carriers by looking into a captive insurance program.
A captive insurer is generally defined as an insurance company that is wholly owned and controlled by its insureds. Its primary purpose is to insure the risks of its owners, and its insureds benefit from the captiveâs underwriting profits. Underwriting profits can be generated by reduced claims and investments.
Zellner Insurance Agency has teamed up with a Managing General Agency that has experience in setting programs up for specific industries that were experiencing premium increases. The results have been tremendous! Claims have been reduced because they are either settled for less money or not initiated at all, members received dividends, and safety increased.
We anticipate that initial insurance premiums will be better than what we are seeing now, but the real benefit is in years two and three. To participate, the members will make an initial investment and pay their premium. The amount of the initial premium will be determined by the data we collect showing current claims as well as premium size for each member. The investment can be paid in full or over time.
The key to the success of this captive relies on you implementing the safety requirements that have been proven to work. For instance, wouldnât it be nice to have a claim be denied or made to go away for a nominal cost instead of the large payouts you have experienced?Â
I can forward you links that will explain a captive in more detail, as well as videos that were used to stop a claim dead in its tracks. We are interviewing companies now and would like to speak with you if you think this will fit your needs. This is an investment in the future of your business and the industry as a whole. Please contact Jeff Spadafora at Zellner Insurance Agency at 904-626-9522 or email jeff@zellnerinsurance.com.
Horn, Janice LaVitte, and Bryan Westfall are a unit at Weiss Insurance that specializes in various transportation risks. They design your insurance policy to fit your insurance needs. Not all risks are identical; years in business, your own loss experience, driver experience, and type of business will affect your insurance cost. They understand your business and your business needs. They wear many hats as independent agents, representing various insurance companies, which allow them to âdesignâ a policy for you. Towing, Transportation, Repossession, Cargo, Excess Cargo, Garage and or Repair Facilities, and Auto Sales are some of the types of business that they write. They have markets for workerâs compensation, group health, property, general liability, and personal insurance.
Originally established in 1950, Mike Keith Insurance (MKI) has four Missouri locations offering a broad range of insurance products and services. Throughout these years, we have taken pride in helping our customers understand and select the right balance between affordability and quality of coverage. MKI focuses on keeping the interest of our clientâs first and all employees strive to exceed customer expectations on every level.
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When you choose the right agent, he will be able to place you with an insurance carrier that best suits your needs. As an independent agent, we can add new companies that enter the market. We have seen companies come into the towing market for a few years and then get back out. When that happens, you can lose your insurance through no fault of your own.
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The Professional IP Radio Platform in Mobile Create USA will provide you an excellent experience of using efficient 2-way radio communication with the crystal-clear voice quality and the coast-to-coast connection. Our platform also is integrating the precise GPS tracking.
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In real world work applications, repeated short drive times at less than highway speeds are very common. Also, trucks are increasingly used as machines requiring long idle and extended use in PTO (Power Take Off) Mode. Both scenarios prevent a truck from properly going into its regen cycle which is supposed to clean the DPF filter.
Need a quick and easy unit to tow most consumer vehicles? Viper costs less, is quicker than most competitive self-loaders, is easy to mount, and can be working for you in no time. 
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Dispatching is essential to your business. It is also frequently quoted as one of the biggest headaches in towing. But today, WEBFLEET can help streamline the repetitive business process and reduce the potential for mistakes that can plague even the most organized tow managers.
