Truck Physical Damage Insurance
Physical damage insurance pays to repair or replace your own trucks and trailers after a collision, theft, fire, or other covered loss.
While liability protects others, physical damage protects the equipment you own or finance. Lenders and lessors almost always require it, and for an owned fleet it is what keeps a wrecked tractor from becoming a balance-sheet event.
What it covers
- Collision — damage from an accident regardless of fault
- Comprehensive — fire, theft, vandalism, hail, and falling objects
- Owned and financed tractors and trailers
- Agreed-value or actual-cash-value settlement options
Who needs it
Any fleet that owns or finances its equipment. Required by nearly all truck lenders and lessors.
Common questions
- Is physical damage insurance required for trucks?
- It is not required by law, but any lender or lessor financing your equipment will require it, and most owner-operated fleets carry it to protect the value of their trucks and trailers.