What’s The Deal With Physical Damage?

One of the most commonly asked questions to insurance agents from truck drivers is, “what is physical damage and why do I need it?” It’s a valid question as the name doesn’t do a great job describing the coverage. You might see physical damage listed on a quote or your policy next to its hefty price tag. In short: Physical damage is an incredibly important coverage that we recommend every truck driver purchase.

What is the most important asset you own as a truck driver? It’s your truck. You know how important it is to care for your truck–it’s your livelihood! Physical damage is another way to protect your most valuable asset.

If you read our previous blog post, What To Expect When Purchasing Insurance, then you know a bit about physical damage. Physical damage covers the repairs to your truck based on its actual cash value if you are in an accident. For example, if a trucker listed the value of his 2007 Freightliner Columbia at $10,000–and that’s the actual cash value of the truck–then that’s how much the insurance company will cover for repairs if it’s in an accident. It’s important you accurately list the value of your truck when discussing physical damage.

Physical damage, though, is a concoction of Collision coverage and Comprehensive coverage. Collision coverage will repair your truck in the event of an accident. Its partner-in-crime, Comprehensive coverage, will repair your truck in the event of an “Act of God.” An “Act of God” is an event that mankind can’t control such as a hurricane or a tornado.

The price tag for physical damage can be high relative to another coverage listed on a quote, but don’t let that stop you from including it in your policy. It’s so important you protect your truck in the same way you protect your personal car or your home. Some insurance agents may quote you without physical damage to provide a lower quote and beat their competition. This is a major red flag. If an insurance agent omits physical damage coverage from your quote without informing you of their decision and providing you a valid reason, we recommend you find another insurance agent who will ensure you are covered for what you need.

Trucking is a business in which your most precious asset can be damage at any time, so make sure you protect yourself and your truck with physical damage.