Tow Truck Insurance for Louisville Kentucky | Pathway Insurance

Tow Truck Insurance Kentucky

WIN Admin — Sat, 26 Jun 2021 16:00:35 +0000

Tow Truck Insurance Kentucky — Looking for the Best Rates?

Are you searching for Tow Truck Insurance in Kentucky? If so, you are in exactly the right place!

Call the agents of Pathway Insurance by dialing 1-800-998-0662, use our online chat system, or send us a request for Kentucky Tow Truck Insurance Quotes 24 hours per day by choosing one of the links that you see below:

Kentucky Tow Truck Insurance — It’s a Great Idea to Find out What the Insurance Will Cost before You Buy Your Truck!

It’s our recommendation that you find out what the cost of the insurance will be before you purchase your truck because you may be in for some sticker shock!

Let’s examine a situation that’s based on a true account, we have changed the names to avoid embarrassment for those involved.

Phineas McGee worked for Jimmy Cobb LLC for about seven years as a tow truck driver before his friends and family encouraged him to venture out on his own. Phineas decides that he should take their advice over a round of adult beverages one simmering Friday afternoon at the local adult drinking establishment.

Phineas starts his search the next morning for a tow truck by going online to search for a later model rollback because this will give him greater versatility for towing work.

Perusing through all of the local dealerships that have tow trucks for sale he doesn’t find anything that really catches his eye, based on the price and also based on the age of the truck.

Phineas is quite surprised at the cost of these trucks so he decides to call his local lender to see if they would be willing to finance such a large purchase.

Phineas speaks with Sam Jones, the local branch manager who handles all such business transactions and they make an appointment to meet.

After Phineas explains what he is wanting to do, Sam gently tells Phineas, “Unfortunately our bank does not provide lending for commercial tow trucks, we really can’t help you.”

Phineas complains, “but you said you made business loans to start-up operations, how come you can’t do a tow truck?”

Sam replies, “the board has directed us to stick with more traditional types of loans for businesses. Unfortunately, this line of business is a special type of loan product so we just wouldn’t be able to accommodate your needs.

Sam continues, “I have a suggestion for you,” as he hands a business card to Phineas, “go ahead and call Drew Mary Maker at this number, I believe that he can accommodate your needs.”

Later that day Phineas arrives home and greets his wife and lets her know what had transpired. Phineas feels somewhat discouraged, but his wife Darlene encourages him to keep up the search, “dear you will eventually find something I just know it; I have faith in you keep trying!”

Phineas is still undecided as he sometimes lacks self-confidence so he decides to table the idea at least for the moment. About two weeks later as he concludes another work week, he thinks, ‘I could be receiving all of the revenue from doing tows versus splitting it with my boss, I need to do something about this and get the ball rolling.’

Tow Truck Insurance — Getting the Ball Rolling.

As Phineas’ wife Harmony is getting super ready for the family, he is browsing on Facebook and views a post of someone he is friends with, on Facebook, but can’t seem to recall how he knows him, his name is Stan Baker.

Stan just posted something on Facebook that he was able to start his own towing business and this gives Phineas’ the needed push he needs to start seriously thinking about starting up his own towing business.

Phineas decides to message Stan to pick his brain a bit. In our next article, we will learn what happens next. Click on Louisville Tow Truck Insurance to read this article.

Tow Truck Insurance —Looking for a Great Deal?

When searching for Tow Truck Insurance Pathway Insurance is a great place to purchase the commercial insurance you need!

There are a number of ways you can reach out to us:

Call us by dialing 1-800-998-0662

Use our online chat system

Text us @ 513-662-7000

Or send us a request for Tow Truck Insurance Quotes 24 hours per day by choosing one of the links that you see below:

The post Tow Truck Insurance Kentucky 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.