What Is It?

Commercial truck physical damage coverage is a type of insurance designed to protect commercial vehicles from damage caused by accidents, collisions, vandalism, theft, and other covered perils.

Who's It For?

  • For Hire Dump Trucks
  • Long Haul Truckers
  • Produce Haulers
  • General Freight Haulers
  • Amazon Freight Haulers
  • Intermodal Carriers


What Is Offered?

  • Comprehensive Coverage
  • Collision Coverage
  • Protection against:
    • Accidents
    • Vandalism
    • Theft
    • Fire

Physical Damage Insurance

What is physical damage coverage?

Commercial truck physical damage coverage is an essential component of commercial trucking insurance that provides protection for the physical assets of a trucking business. It covers the repair or replacement costs for commercial vehicles, including trucks, trailers, and other specialized equipment, due to damage from covered perils.

Coverage Highlights:
Collision Coverage: Collision coverage reimburses the insured for the cost of repairing or replacing their commercial vehicles if they are damaged in a collision with another vehicle or object, regardless of fault. This coverage is essential for covering damages resulting from accidents on the road.

Comprehensive Coverage: Comprehensive coverage provides protection against non-collision related damage to commercial vehicles, such as vandalism, theft, fire, falling objects, or natural disasters like storms or floods. It covers a broad range of perils that may cause physical damage to the insured vehicles.

Specified Perils Coverage: Some commercial truck physical damage policies offer specified perils coverage, which only protects against specific risks listed in the policy. Common specified perils may include fire, theft, vandalism, and certain weather-related events.

Deductibles: Commercial truck physical damage coverage typically includes a deductible, which is the amount the insured must pay out of pocket before the insurance coverage kicks in. The insured can choose a deductible amount based on their preferences and budget, with higher deductibles usually resulting in lower premiums.

Actual Cash Value vs. Replacement Cost: When filing a claim for physical damage, commercial truck insurance policies may provide coverage based on either the actual cash value (ACV) or the replacement cost of the vehicle. ACV coverage reimburses the insured for the current market value of the damaged vehicle, taking into account depreciation, while replacement cost coverage provides reimbursement for the cost of replacing the vehicle with a similar one at today’s prices.

Commercial truck physical damage coverage is an essential aspect of commercial trucking insurance that provides financial protection for the physical assets of a trucking business. By investing in this coverage, trucking businesses can safeguard their commercial vehicles against damage from accidents, collisions, vandalism, theft, and other covered perils, ensuring the continuity of their operations and minimizing financial losses. It’s essential for trucking businesses to work with experienced insurance professional like Coast Transport Insurance Service to tailor their coverage to meet their specific needs and ensure comprehensive protection for their commercial vehicles.

Are you looking for auto liability insurance?

Commercial truck auto liability coverage and physical damage coverage serve different purposes but are both essential for protecting your commercial trucking business. Auto liability coverage shields you from financial liabilities arising from accidents involving your trucks, while physical damage coverage safeguards your trucks and trailers from damage or loss.

How do I get physical damage coverage?

Obtaining physical damage insurance for your semi-truck involves several steps to ensure you get the right coverage for your needs. Here’s a guide to help you navigate the process:

1. Assess Your Insurance Needs:
Before purchasing physical damage insurance for your semi-truck, assess your insurance needs by considering factors such as the value of your truck, your budget, the types of risks you face, and any specific coverage requirements from lenders or leasing companies.

2. Research Insurance Providers:
Research reputable insurance providers that specialize in commercial trucking insurance and offer physical damage coverage for semi-trucks. Look for insurers with experience in the transportation industry and a track record of providing reliable coverage and excellent customer service.

3. Obtain Quotes:
Contact multiple insurance providers to obtain quotes for physical damage insurance for your semi-truck. Provide detailed information about your truck, including its make, model, year, value, and any aftermarket modifications. Also, be prepared to provide information about your driving history and any safety features installed on your truck.

4. Compare Coverage Options:
Review the quotes and compare the coverage options offered by different insurers. Pay attention to coverage limits, deductibles, exclusions, and any optional endorsements available. Choose a policy that provides the appropriate level of coverage to meet your insurance needs and budget.

5. Review Policy Terms and Conditions:
Carefully review the terms and conditions of the physical damage insurance policy before making a final decision. Ensure that you understand the coverage provided, including any limitations, exclusions, or conditions that may apply. Clarify any questions or concerns with the insurance provider before proceeding.

6. Purchase Coverage:
Once you’ve selected a physical damage insurance policy that meets your requirements, proceed with purchasing the coverage. Complete the necessary paperwork and provide any additional information or documentation requested by the insurer. Pay the premium to activate the policy.

7. Maintain Ongoing Communication:
Maintain ongoing communication with your insurance provider to stay informed about any changes to your coverage or policy terms. Notify the insurer of any significant changes to your truck or business operations that may affect your insurance needs.

Obtaining physical damage insurance for your semi-truck involves assessing your insurance needs, researching insurance providers, obtaining quotes, comparing coverage options, reviewing policy terms and conditions, purchasing coverage, and maintaining ongoing communication with your insurer. By following these steps and working with an experienced insurance agency like Coast Transport Insurance Service, you can obtain the necessary protection to safeguard your semi-truck against physical damage and ensure the continuity of your operations.

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We can customize a commercial truck insurance program to meet your specific requirements. This might vary from comprehensive coverage to liability-only coverage.

Physical damage insurance for commercial vehicles

We can insure almost every sort of commercial vehicle. The following are the most often seen. If you’re searching for anything in particular, give us a call; we’re happy to assist you.
Physical Damage Insurance

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