I don’t need to tell you that owning a tow business is high risk. It’s a dangerous profession with expensive equipment and expensive claims. These risks are present every day. For these reasons, careful consideration should be given to how you legally structure the ownership of your business. If you make the wrong choice, everything [...]
In my opinion, some tow company owners are too nice to their employees. I’ve seen many an owner pay for an employee’s mistakes (literally), such as paying for a traffic fine or for the damage an employee caused, only to have the employee fail (literally) to repay the favor. When this happens, tow companies are sometimes quick to immediately “dock” the employee’s paycheck to recover any monies that were spent on the employee.
As we have written about in this blog, downtime claims, which are claims for that time when your tow truck is down and not generating income, are tough and insurance companies often fight them tooth and nail. For this reason, before you retain an attorney to prosecute such a claim and spend even more money, it is best to know what you are getting yourself into.