Brookhurst Insurance published a guide to workers compensation for towing companies outlining the factors that determine rates including class codes, distance from shop, hours of operation, repossession services, and claims history, according to Brookhurst Insurance. The guide noted that underwriters evaluate tow companies on many factors beyond standard class codes.
Operator takeaway
Underwriters evaluate your operation beyond the class code — reducing your risk profile by limiting hours, geography, or service types directly affects your workers comp premium.