Trucking Insurance Coverage for Physical Damage—Understanding Your Options

Among the various types of insurance available, physical damage coverage is a key component that can protect your investment in trucks and equipment.

Physical damage coverage can be divided into the following main categories:

• Collision coverage may help pay for damage to your truck resulting from a collision with another vehicle or object, regardless of fault. This includes accidents where you or your driver hits another vehicle or stationary object or if another vehicle collides with you.

• Comprehensive coverage may help pay for damage to your truck that was not caused by a collision, including incidents such as theft, vandalism, natural disasters or hitting an animal.

When choosing physical damage coverage for your trucking business, consider the following options to tailor your policy to your specific needs:

• Custom equipment coverage may help cover modifications or specialized equipment installed on your truck, including add-ons like custom trailers, specialized cargo holds or other nonstandard features.

• Uninsured/underinsured motorist coverage may help cover damage to your truck if the at-fault driver is uninsured or has insufficient insurance to cover the damages.

How to Choose Appropriate Trucking Insurance Coverage

Evaluate the following when selecting the appropriate physical damage coverage:

• Consider the types of risks your trucks are exposed to, including the geographic areas you operate in and the typical hazards encountered.

• Determine the replacement value of your trucks and equipment to ensure that your coverage limits are adequate.

• Balance the cost of premiums with the level of protection needed. While comprehensive coverage may seem like an added expense, it can help prevent significant financial loss.

An insurance professional specializing in trucking can provide valuable insights and help tailor a policy that meets your specific needs.

Contact Us

Contact Morais Agency in Chester, New York, to learn about your trucking insurance options and get a personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.