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The Importance Of Physical Damage Insurance For Semi-Trucks

The Importance of Physical Damage Insurance for Semi-Trucks

Physical damage coverage is semi-truck insurance that covers damages caused by collisions and non-collision events. This policy protects against semi-truck physical damage and defends the insured against losses from specific risks over a fixed period. If a loss falls within the risks the policy covers, you can request payment for damages up to the policy limit.

What Does Semi-Truck Physical Damage Insurance Cover?

Combined physical damage coverage, also called fire and theft insurance, is a comprehensive insurance product for semi-trucks. It protects the policyholder from risks that may damage a vehicle caused by something other than a motor vehicle collision, such as theft, fire, vandalism, window breakage, collisions with animals, or weather.

Combined semi-truck physical damage coverage is often required for financed and leased vehicles to protect their interest in the event of damage or loss.  There is a minimum coverage requirement for drivers to legally operate a vehicle, and combined physical damage coverage meets those requirements. Non-compliance can result in a termination of the lease agreement.


Collision insurance is a very common and beneficial physical damage insurance as it was created to repair or replace a vehicle damaged in a collision.

Physical damage insurance requires you to pay a deductible prior to paying the claim. Generally, there are higher premiums for low deductible policies. You will need to weigh out the advantage of low out-of-pocket expenses against paying high premiums. You may opt to purchase a variety of policies to cover a wide range of risks.

Comprehensive Physical Damage Coverage

It is crucial for trucking businesses to take into consideration the importance of covering their unique risks. Individual drivers and businesses operating at least one vehicle for commercial purposes should purchase physical damage coverage for their semi-trucks. While purchasing several specialized policies may make sense for certain businesses, it may be better to purchase a comprehensive policy for others. Comprehensive policies combine the features of specialized policies into a single coverage plan. You can speak with an insurance advisor to learn what may be more beneficial for you.

Semi-Truck Physical Damage Insurance Summary

Semi-truck physical damage insurance can make all the difference for trucking businesses as risks are high and one claim can be financially devastating. Gain Insurance Agency can assist in getting you the affordable semi-truck insurance coverage you need, starting with legal requirements, then adding to your policy if you want to properly protect your truck and equipment in case of an accident.   

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