Trucking Physical Damage Insurance

With new truck pricing beginning at around $80,000 and soaring up to $150,00 or more, investing in your fleet means having to spend large sums of money. Repairing damage to your rig after an accident, or other event, could run in the thousands of dollars. For many truck owners, a theft or a total loss could mean the end of their business.

What Trucking Physical Damage Insurance Covers?

Trucking physical damage insurance provides coverage to help pay the costs to get you back on the road. There are two components to this type of policy:

Collision – Coverage is provided if your truck collides with another vehicle or object (except animals).
Comprehensive – Coverage is provided if your truck is stolen or damaged by something other than colliding with another vehicle or object.

A limited version of comprehensive insurance is also available named Fire and Theft with CAC (combined additional coverage).

The coverage is limited because the policy will only provide reimbursement for the following specified perils:

Fire
Windstorms or hail
Collision with an animal
Theft
Flood or rising water
Damage during transport
Earthquake
Lightning or explosion
Malicious mischief of vandalism

Fire and Theft with CAC is usually only placed on certain types of heavy trucks. The coverage does not include windshield claims or other causes of damage not specifically covered.