No registration number to operate a tow vehicle for a city tow shall be issued until
the applicant shall first obtain a policy of insurance from a company authorized to
do business in the state or a bond of indemnity, acceptable to the director, with
limits for bodily injury liability of at least $1,000,000.00 for each person, $1,000,000.00
for each accident and property damage liability of $1,000,000.00 for each accident,
garage keepers legal liability insurance with limits of $150,000.00, on-hook liability
policy of $150,000.00, and workers' compensation insurance as required by state law.
