Physical Damage Truck Insurance is one of the most important coverages that every trucking business should have.
But to get a deeper understanding of why it’s so important, we advise you to read this blog.
Managing a trucking business is not an easy profession. You have to manage heavy-duty motor vehicles daily. These vehicles are the lifeline of your business, so you need to be very attentive to them. Moreover, the goods or items you carry in your trucks are also your responsibility. You will be held liable for any damages they may suffer. So you need to make sure everything is in line before you send a truck out for delivery.
At such times, your business must have proper Trucking Insurance to cover damages. That’s where Physical Damage Truck Insurance comes in. It is a group of coverages that protect your vehicle and business. Any type of Truck Insurance coverage that protects your vehicle or the cargo against damages falls under this category.
We will try to help you understand how Physical Damage Truck Insurance helps your business. To do this, here is every type of coverage that falls under this category and provides its detailed benefits:
Liability Insurance helps cover any type of accidental damage caused by your truck to others and their property. This can include property damages or personal injuries. You can also count this as a type of Collision Insurance. Liability Insurance is the minimum coverage insurance any trucking company needs to conduct business.
Cargo Insurance helps your business reimburse the damages caused to their cargo due to any incident. Apart from the deductibles, you won’t need to disturb your business’s finances to pay back the customer. Considering how unpredictable the trucking business can get, you can also consider this an essential Commercial Truck Insurance requirement.
Bobtail Insurance helps cover the cost of any damages or theft when your truck is not operational. Such incidents usually occur after the delivery has been made and the truck is at a standstill around the delivery location. Most Commercial Truck Insurances carry these types of coverages.
Physical Damage Insurance
Physical Damage Insurance covers all types of damages incurred by your truck in an accident or incident. These damages can be caused by fire, theft, or vandalism. In case of an accident, you can also consider it as Collision Insurance.
Trailer Interchange Coverage
Trailer Interchange Coverage protects the extended trailers owned by your business. As per the trailer interchange agreement, these trailers don’t need to be attached to a truck for protection. Once you get this coverage, your insurance provider will reimburse you for any damages your trailers might incur.
Commercial Truck Roadside Assistance
With Commercial Truck Roadside Assistance, your Insurance covers the cost of roadside assistance services. Hence, you won’t need to worry about the cost of the service when your truck breaks down in the middle of the road. These services will fix all the internal damages in your truck and help it get back on the road.
Property Damage Insurance
Property Damage Insurance or Personal Property Insurance covers the cost of damages caused to commercial properties like buildings, businesses, and personal property. This insurance will provide coverage against claims from the owners of the said properties.
Tips & Advice
All these coverages are an integral part of a financially secure trucking business. Hence it’s essential to ensure that you get the best coverage at the best price. With Exceed Insurance, you get the best Truck Insurance companies with various premiums that fit your needs. Just key in your details and get a variety of Truck Insurance quotes from us. You can check out all the premiums and compare the Trucking Insurance costs from various providers. This will help you get the best plans for the best price in the market.