Physical Damage Insurance: Physical damage insurance pays to repair or replace your own truck or trailer after collision, fire, theft or other covered events, subject to deductibles.
Why it matters to owner operators
If you finance your truck, the lender usually requires it. Check the deductible, how the truck is valued and what is excluded.
Example
A truck is damaged in a collision, and physical damage coverage pays for repairs minus the deductible.
Related terms
Compliance & Safety: Getting set up and staying compliant keeps your truck earning. We help new carriers with broker setup packets and certificates of insurance. Talk to our dispatch team or browse the full trucking glossary.
Haul smarter with a dispatch team behind you
Nexloads finds loads, negotiates rates and handles paperwork for owner operators and small fleets. No forced dispatch and no long-term contracts.