Commercial Truck Insurance Policies – Physical Damage Coverage
There are many types and levels of commercial truck coverage available. This includes insurance for individual drivers as well full-fledged motorcarriers and fleets. Some policies provide coverage for only the protection of property damage. Others protect your rig even when you’re not on the job. Primary liability insurance covers the most basic form commercial trucking insurance. Much like our auto commercial trucking insurance.
However, such policies do not protect your truck from damage during an accident. Commercial truckers can find it extremely expensive, even for minor accidents. The other party responsible is not covered. You have a very low chance of damaging other property by driving your truck around and getting it back unscathed.
If you’re an independent hauler who ships cargo for a larger corporation, you might want to cover your truck in case it is damaged by an accident. Independent drivers don’t have to purchase their own liability coverage for their trucks. Independently contracted drivers who travel under dispatch (meaning going to work or actually driving a truck) are covered by the truck insurance policies.
Independent drivers usually only need simple Bobtail insurance. This insurance covers them with primary liabilities during times when they aren’t under the insurance of another company. Independent drivers should consider putting in a good physical policy to protect themselves and their assets.
Independent Owner/Operator Insurance. Physical Damage Insurance
Your vehicle is essential to your ability to earn a decent living. General maintenance costs are very expensive. Don’t risk on any physical damage. The right coverage will protect you from the full extent of those costs.
In the event of an accident (e.g. a collision, an overturn or roll), regardless of fault, coverage for physical damage provides protection. It will also protect against damage caused by fires and vandalism as well as theft.
With physical damage insurance, the owner/operator can rest assured that their truck is safe and their livelihood will not be at risk.
Comprehensive Coverage Vs. Insurance for Physical Damage
Many truck insurance companies offer comprehensive coverage. Sometimes comprehensive coverage may be referred to interchangeably with physical damages policies. This is because comprehensive coverage protects all of the truck insurance holder’s assets, regardless their fault. Comprehensive coverage may be different from a simple add-on for physical damage. It protects your truck from other types of damage.
Comprehensive trucking policies often include specific provisions that cover trucks in the event of natural disasters, weather conditions, or fire. Comprehensive truck insurance often covers damage or loss caused by theft or vandalism.
If there are any questions, it is best to talk with your agent about what comprehensive or personal damage policies cover.