Commercial Physical Damage
What is Commercial Physical Damage Insurance?
Physical damage insurance provides protection against loss or damage to your covered vehicle resulting from an accident with another vehicle or object. Physical damage insurance is important for motor carriers and owner operators to carry and in many instances required based on if there is a lien holder.
There are several distinctions to be aware of when purchasing physical damage insurance coverage. Collision provides physical damage insurance in the event of a collision whereas comprehensive typically provides coverage to repair or replace a vehicle in an incident that is not a collision. Theft and fire coverage is often added or included in comprehensive insurance as well.
What is covered by Physical Damage Insurance?
Physical damage insurance, sometimes referred to as collision coverage, pays to fix or replace damaged tractors and trailers. It covers your rig 24/7, whether operating for personal or business use. In addition you can enhance your physical damage protection with a variety of coverage options.
Physical damage coverage might seem simple, but it actually helps cover damages to your car or truck from many different accidents. Collision insurance helps with accidents that involve:
- A collision with another vehicle or an object like a fence or tree
- Only your vehicle, like a rollover accident
- Someone crashing into your parked vehicle
- An accident in a vehicle you’ve rented
Collision insurance typically won’t cover:
- Damage to another person, including medical bills
- Vandalism or theft
- Accidents with animals
- Losses other than vehicle damage from a collision
