Physical Damage Insurance

What Physical Damage Insurance Covers

Physical Damage insurance covers your truck and trailer from damage caused by accidents, theft, fire, vandalism, and natural disasters. It's referred to as comprehensive and collision coverage, or sometimes "specified perils" coverage.

Stated Value

Most insurance companies ask for a "stated value" of what your truck and trailer are worth. This is the amount the policy will pay out in the event of a total loss. Stating the correct value is critical — understate it and you'll be underinsured, overstate it and you're paying higher premiums than necessary.

Comprehensive Coverage

Covers damage from:

• Fire and explosions
• Theft and vandalism
• Falling objects (trees, rocks, debris)
• Storms, hail, and floods
• Animal collisions

Collision Coverage

Covers damage from:

• Accidents with other vehicles
• Accidents with stationary objects (guardrails, poles, buildings)
• Rollovers and jackknife incidents

Required by Lenders

If you're financing your tractor or trailer, the lender almost always requires physical damage coverage for the full value of the loan. Checkers ensures your policy meets lender requirements and stays active to prevent loan default.

Deductible Options

Common physical damage deductibles range from $1,000 to $5,000. Higher deductibles = lower annual premiums but more out-of-pocket at claim time. We help you choose the deductible that makes the most sense for your cash flow and risk tolerance.