April 23, 2024
Physical Damage
Physical damage insurance is a cornerstone of protection for trucking businesses, offering coverage against potential loss or damage to vehicles due to accidents with other vehicles or objects. It’s essential coverage for both motor carriers and owner-operators, especially when there’s a lien holder involved.
When diving into the specifics of physical damage insurance, it’s crucial to understand the differences between collision and comprehensive coverage:
- Collision Coverage: As the name suggests, this covers damages to your vehicle resulting from a collision.
- Comprehensive Coverage: This broader coverage encompasses damages not caused by collisions. It often includes or can be supplemented with theft and fire coverage.
Both types of coverage offer unique benefits, ensuring that trucking businesses are well-protected from a range of potential risks.
