Tow Truck Insurance Lexington Ky

WIN Admin — Thu, 20 Apr 2017 19:05:43 +0000

Tow Truck Insurance Lexington Ky — New Company & Low Rates!

If you are looking for Tow Truck Insurance in Lexington Kentucky and the surrounding areas contact Pathway Insurance by calling our agents directly at 1-800-998-0662.

If you find our website after hours you can use our online chat system that’s available seven days per week or you can send us your request for information and quotes around the clock by clicking any of the links below:

Tow Truck Insurance Lexington Ky — Avoid This Method with Your Commercial Insurance Part 2.

In a previous post you can read by clicking Tow Truck Insurance Louisville Kentucky we learned about a predicament Bugsy McCoy got himself into with his company Bugsy McCoy Towing.

Bugsy has not run a very tight ship with his tow company, allowing drivers to remain employed who should have been fired a long time ago because, well, they were bad drivers, causing numerous claims that were filed with Bugsy’s insurance company.

Now he is facing a no-win scenario: he got canceled from his current company and the best rate he was able to get quotes for were 3 times more than what he was paying before. Sure, Bugsy could afford to pay 3 times more since much of his business was cash and not reported to the government.

Bugsy is making a lot more money than anyone realizes because he doesn’t flash it around, and there is one other issue: he is a skinflint to his core. He doesn’t believe in insurance and hates the fact he’s got to shell out so much money on something he doesn’t believe in.

Bugsy conveniently forgets the $120,000 in claims his insurance company has paid out over the last few years because of the reckless drivers working for him.

He hangs up the phone on his agent and says to himself: “There has got to be a way to find a better rate on my insurance. Wait, I know what I can do; I’ll open up a new tow truck company in a different name just for the insurance.”

Bugsy makes a few calls to different agents (not the agent he has bought insurance from in the past because he won’t be able to pull a fast one on that guy) to find a company willing to insure a “new towing business”.

Sure enough, Bugsy finds a company that buys his story of opening up his “new” towing company. However, the new agent he buys a policy from was just as sneaky as Bugsy. We will learn about the storm of trouble Bugsy finds himself in in our next article.

Lexington Kentucky Tow Truck Insurance – Low Rates!

Low rates are one call or click away for those looking for Lexington Tow Truck Insurance!

Pathway is a leading insurance broker offering super low rates for well-established companies as well as new companies searching for commercial insurance for the first time.

Call Pathway by dialing 800-998-0662 or use our online submission system available around the clock by clicking the below links for your area:

The post Tow Truck Insurance Lexington Ky first appeared on Pathway Insurance.

Tow Truck Insurance Louisville Ky

WIN Admin — Thu, 20 Apr 2017 18:49:22 +0000

Tow Truck Insurance Louisville Ky — BIG Savings!

If you’re looking for better deals on Tow Truck Insurance in Louisville Kentucky then you need to call Pathway Insurance right now by dialing 1-800-998-0662.

Pathway Insurance offers Tow Truck Insurance in Kentucky, Tennessee, Indiana, Ohio, Michigan, Wisconsin, Minnesota, Missouri, Texas, New Mexico, Arizona, Georgia, Florida, and the state of Maryland seven days per week.

If you find our website after hours or on the weekend use our online chat system. Licensed agents are available 7 days per week to provide quotes, answer questions, issue policies and provide service for those insured with our company.

Additionally, you can send us requests for quotes and information by using the links below 24 hours per day:

Louisville Kentucky Tow Truck Insurance — Avoid This Method With Your Commercial Insurance.

There’s no question that Kentucky Tow Truck Insurance is expensive. However, in the past some tow truck owners, in an attempt at dodging increased rates because of poor claims experience, have used (somewhat successfully) something we refer to as:

The New Business Venture Loophole.

What is “The New Business Venture” Loophole?

Basically, it is a strategy to “close” an existing tow truck company and reopen under a new name.

In the past, companies would take this approach when they got into trouble with their creditors or were on the receiving end of legal judgments. They assumed that a legal corporation provides a free hand to come and go as they please.

While it is true that a legal corporation is a separate entity from the owner of the business and does, in fact, provide some measure of protection, some tow companies who have gotten into trouble with their insurance companies because of too many claims have found it difficult to stay in business when they are forced into High Risk Tow Truck Insurance.

So a new strategy was invented called the New Business Venture Loophole.

This Is How the New Business Venture Loophole Begins.

Example: Bugsy McCoy Towing receives a cancellation notice from his insurance company due to something called frequency of claims. Bugsy McCoy, the owner, is somewhat perplexed because he doesn’t really understand the term “frequency of claims.” He calls his agent who patiently explains to Bugsy that frequency of claims means you turn in too many claims.

“I’ve only had five claims in the last three years!” Bugsy exclaims. “How can that be frequent?”

“Bugsy,” Bugsy’s agent replies, “ insurance companies are really no different than your towing company; let’s say you had a customer that cost you $500 every time he called in for a tow. Would you keep him as a customer?”

“Well, no…” Bugsy tentatively replies.

“See, in your case, Bugsy, you paid your insurance company $30,000 in the last three years for your insurance, but your insurance company has paid out $120,000 in claims. Would you say that’s a winning proposition for your insurance company?”

“But that’s why I buy insurance.” Bugsy counters.

“Well that’s true, Bugsy, but in your case, your insurance company has lost $90,000 more than you paid them, so in their eyes, you are a claims machine and they want no more part of that. We can shop around to see what we can find for you, okay?”

“Okay,” Bugsy replies.

Bugsy’s agent gets back to him a few days later. The new rate is triple what he was paying before.

Bugsy complains to his agent that he can’t afford that and will have to go out of business.

“Well, Bugsy, unfortunately, no one wants to insure you except for this one company, and they need $10,000 down just to start the policy. If you change your mind give me a call.”

What will Bugsy do? In our next article, Bugsy believes he comes up with a good idea to keep him in business and get his insurance rates down to the level he was at before. Will he succeed?

Don’t miss the next article.

Tow Truck Insurance Louisville Ky — Call Pathway Today.

Because we specialize in Tow Truck Insurance in Kentucky you can count on us to find the coverage you need for new and well-established tow companies.

Call us right now by dialing 800-998-0662 or send us a request for quotes 24/7 when you use links below based on your nearest locality:

The post Tow Truck Insurance Louisville Ky first appeared on Pathway Insurance.

Lexington Ky Tow Truck Insurance | Pathway Insurance