Capital ships were often more valuable covering a tow

Why were battleships and other large warships not used more often to tow damaged ships in wartime?

They could tow, but the loss of maneuver made a valuable ship vulnerable, so it was often better used to protect a smaller towing vessel.

Capital ships sometimes performed towing work, but the task restricted the maneuverability on which their survival depended. A battleship could instead protect a destroyer or escort conducting the tow and remain free to fight. Raw horsepower alone does not decide towing value, because propulsion designed for speed does not necessarily deliver force like a tug or heavy truck. Destroyers with high power might still be practical tow vessels while larger ships provided cover.