Truck Physical Damage
It is a crucial safeguard for truck owners and operators. It provides peace of mind, protecting your investment and keeping your operations running smoothly even in the face of unexpected accidents or damages. If you've financed your truck, your lender may require physical damage insurance as part of the loan agreement.
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what does truck PD cover?
Truck Physical Damage Insurance typically covers the following types of damage:
Collision Damage
This coverage pays for damages to your truck resulting from collisions with other vehicles or objects, regardless of who is at fault. It's particularly valuable in accidents where you are responsible. This coverage steps in to pay for the repair when it collides with another object or overturns or rolls.
Comprehensive Damage
Comprehensive coverage protects your truck from non-collision-related damages, such as:
Theft- Vandalism
- Natural Disasters
- Fire
- Animal Collisions
Specified Perils
Some policies offer "specified perils" coverage, which protects against a limited set of specific risks. This can be a more budget-friendly option but may not cover as broad a range of incidents as comprehensive physical damage coverage.
Separate adds-on to consider:
Towing
It covers the cost of towing your vehicle to a repair facility or another location if it becomes disabled due to a covered event.
Roadside Assistance
It typically includes services such as jump-starts, flat tire repair, fuel delivery, and lockout assistance.
Storage Fees
If your vehicle is towed to a storage facility after an accident or another incident, the storage fees are generally not covered by your physical damage insurance. You may need to address these fees separately.
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Frequently asked questions
We’ve compiled this list of frequently asked questions to help you better understand the various types of coverage we offer and how they can protect your business. Whether you’re a fleet owner or an owner-operator, our goal is to provide you with the information you need to make informed decisions about your insurance needs. Feel free to contact us if you have any questions left.
What insurance coverage do I need as the truck owner operator?
As the owner operator, you will need physical damage insurance and non-trucking liability as well as occupational accident insurance. The motor carrier should provide primary liability and cargo coverage. Please make sure to check your lease agreement for the coverage required. Sometimes physical damage, non-trucking liability and occupational accident can be provided by the carrier
What is covered under Physical Damage Insurance?
It covers damages of your truck or trailer resulting from an accident and loss from vandalism, theft, fire, wind or hail.
What is covered under Non-Trucking Liability?
It covers expenses associated with injuries to others or damages of their property caused by you when using your truck for non-business purposes.
What insurance coverage do I need for my trucking fleet?
For a trucking fleet, you need comprehensive coverage including Trucking Liability, Cargo Insurance, Physical Damage, Occupational Accident, General Liability, and Umbrella Insurance (optional)
What happens if one of my trucks is involved in a multi-vehicle accident?
If one of your trucks is involved in a multi-vehicle accident, Trucking Auto Liability Insurance will cover bodily injury and property damage claims. If the total claims exceed your policy limits, Umbrella Insurance will provide additional coverage to protect your business from large financial losses.
What if the value of my cargo exceeds the policy limit?
If the value of your cargo exceeds the policy limit, you would need to cover the excess amount out of pocket. Consider discussing higher coverage limits with your insurance provider to ensure your policy meets the needs of your high-value shipments. However, Umbrella Insurance generally does not cover cargo claims, so it’s important to have adequate Cargo Insurance limits.