In order to obtain a Wrecker Service Division Certificate of Insurance in the state of Oklahoma, a wrecker or tow company must provide the state with proof of insurance from the company granting the policy. This also includes proof of the following types of insurance:
- Bodily Injury Liability & Property Damage Liability: these two types of insurance cover the cost of damages that occur as a result of an accident you are responsible for. Bodily Injury (BI) Liability covers any injuries to people, and Property Damage Liability covers any injury or damage to property.
- Garagekeeper’s Legal Liability: this coverage is designed specifically for business owners who operate a wrecker or tow truck company, and it protects a customer’s vehicle while being serviced, stored overnight, or parked in a covered location, specifically from damages such as fire, theft, vandalism, or collision. In the state of Oklahoma, Garagekeeper’s Legal Liability cannot exceed a $500 deductible.
- On-Hook: this coverage colors in the standard insurance coverages for “automobiles” by specifically covering tow-trucks and other machines and vehicles with hooks.
- Bailee Insurance: covers the legal liability that results from damage done to a bailor’s (customer’s) property while under the temporary care of a bailee (in this case, the wrecker company). The bailee is protected against many potential hazards, including water or fire damage, theft, vandalism, or a collision.
In order to receive a wrecker class certificate of insurance in Oklahoma, all four of these coverages must be in place.
The wrecker company seeking proof of insurance from the state must also provide the Department of Public Safety with the make and model and year and VIN for each of its vehicles. The paperwork must be signed by a representative (owner) of the tow or wrecking business; a representative from the company’s insurer; a notary; and someone from the Department of Public Safety. Though it may seem like a lot of paperwork and hoops to jump through, it’s important to have these certifications in place so that all drivers and their property are protected if they are towed.
For more information on crashes and accidents access our Oklahoma City car accident attorney page.