How much does Towing Service insurance cost in Memphis, Tennessee?

The estimated annual cost for a Towing Service in Memphis with one employee is between $1761 and $2590. The state base rate is $880.

What insurance is required for a Towing Service in Tennessee?

In Tennessee, businesses are subject to a 7.0% insurance tax. Towing Services typically need General Liability due to a risk factor of 2.2.

Towing Service Insurance Cost in Memphis, Tennessee (2026 Guide)

Estimated Cost (2026)

Adjust based on your team size

Number of Employees1

Just me (1)Team (20)

$1761-$2590

Estimated Annual Premium

Monthly Average Breakdown

$173 / mo

Includes General Liability

Industry Risk Profile

Towing companies operate heavy vehicles and take custody of customer cars, requiring expensive commercial auto and on-hook coverage.

Risk Factor2.2x

Location Factors

State Base Rate$880
Memphis Multiplier1x
State Tax Rate7.0%

Local Compliance FAQ

Is General Liability required in Memphis?

While Tennessee law may not mandate it for all businesses, Towing Services often need proof of insurance to bid on local commercial projects in Memphis.

Why is the rate different here?

Your premium reflects Tennessee's specific base rate of $880 and a local city multiplier of 1x.

Compare Towing Service Insurance in Other Tennessee Cities

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How much does Towing Service Insurance cost in Memphis?