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Trucking Physical Damage Insurance is a general term for a group of insurance coverages that protect your vehicle. This general term includes Collision insurance, a Comprehensive insurance or the more limited Fire and Theft with Combined Additional Coverage (CAC) insurance.
When choosing commercial trucking insurance, you have to remember that not all accidents occur on the road. Fire, theft, vandalism and other disasters present a very real danger as well. In order to protect against such occurrences, physical damage coverage or comprehensive coverage may insure you against unexpected events like these. Physical Damage coverage can also help pay for towing and storage expenses incurred after a covered accident subject to a certain limit.
Physical damage policies do not pay out for damage done to cargo. The standard Physical Damage policy does not cover driver’s personal items, electronics, tarps, chains, binders, tools as well as any non-permanently attached equipment to the insured’s tractor or trailer. Coverage for these items is optional and can be added for an additional premium.
Physical damage is beneficial to any trucking insurance, even though the law only requires primary trucking liability insurance. In order to be completely covered, trailer insurance and cargo insurance are also available. Independents may want to carry bobtail insurance with physical damage, as they may be included in their contract employer’s primary trucking liability insurance while on contract.
If you have a loan on your vehicle, or if you want to fully protect your vehicle, you should choose Physical Damage insurance.
For Physical Damage insurance, you must choose a deductible. The deductible is the amount that you agree to pay out of pocket when you have a claim.
Choosing a higher deductible is an easy way to lower the price of your insurance. Be sure you choose a deductible that you can afford to pay out of pocket at any time.
When you select Physical Damage insurance, you also are required to submit a Stated Amount, which is your best estimate of the current value of your vehicle. The Stated Amount should take the age and condition of your vehicle into account, as well as any permanently attached equipment.
Please complete our one page quick quote sheet for a quick premium indication or call us at (844) 235-9449 to speak to one of our licensed trucking agents.
DISCLAIMER: Coverages may vary by state and by insured business. Consult your agent about coverages you may need for your unique situation. Coverage descriptions above are for general information only. Actual coverage is subject to all terms, conditions and exclusions of the policy.
Top notch organization to deal with for commercial truck insurance. When I thought I had a serious issue aquiring truck insurance, John @ Big Rig expedited things and came thru with top rated insurer for a premuim price almost half of what I was being quoted. Give him a call and let him work his magic. He got my 100% approval!
Jan – Singleton Trucking Inc.
I have been in the trucking business for about 5 years. I have had 2 other insurance agency’s. I switched to Insure Big Rig about a year ago and hands down this is the best service I have ever received. The products that they offer are over the top. No one else can offer the products that Insure Big Rig provides. Very happy customer.