Call 866-869-3335 to Get the Right Trucking Physical Damage Insurance for Your Trucking Business at an Affordable Rate
As a truck driver, you realize the importance of protecting your goods in transit as well as other drivers for damages and injuries you may cause while operating your motor carrier, but what about protecting your truck? You depend on your truck daily to assist you in job performance and reliability but what if your truck is stolen, damaged by fire, or is involved in a collision that leaves your truck inoperable? The good news is that Paramount insurance Agency can get the right trucking Physical Damage insurance for your trucking business at an affordable rate so that you can get back to trucking on down the road.
What is Trucking Physical Damage Insurance?
Physical Damage insurance is a group of coverage options that protect your truck or fleet trucks and includes Collision coverage, full Comprehensive coverage or a more limited comprehensive coverage referred to as Fire and Theft with Combined Additional Coverage (CAC) insurance. *Note that if you opt for Physical Damage insurance you must have collision AND either the full Comprehensive or the Fire and Theft with CAC insurance.
- Collision coverage is protection for your truck/motor carrier if it is damaged by a collision. (Ex: hitting another vehicle or object, or rollover)
- Full Comprehensive coverage provides protection for your truck/motor carrier for damages resulting from something other than a collision with an object or vehicle, and includes theft.
- Fire and Theft with CAC Insurance is specially designed for specific heavy truck types and operates as a limited comprehensive coverage that provides insurance protection against specified perils including fire, theft, earthquake, collision with animal(s), lighting, vandalism, and more.
*Windshields are excluded under this type of insurance.
If your truck is leased, you probably are required to have Physical Damage insurance; however, if your truck is completely paid for, Physical Damage coverage is optional.
Deductibles in Relation to Physical Damage Insurance
A deductible is the chosen amount of “out of pocket” money that you absorb before any insurance claim payment is produced, as a result of a covered loss. In an effort to save money on your trucking insurance premium, you can choose a higher deductible that works within your budget.
For example, assume one night one of your trucks has been stolen. If your deductible is $1000, that means you are responsible for that amount, out of pocket, before your trucking insurer pays anything. After you pay your deductible amount, then your Comprehensive or Fire and Theft with CAC insurance would pay the cost to replace your truck with either the established ACV (actual cash value) or the “stated amount” of the truck value submitted.
Paramount Insurance is a N.C. independent insurance agency that realizes different businesses have unique trucking insurance needs. We insure trucking companies from High Point, Charlotte, Raleigh, and Wilmington and all over the State and can provide you with dedicated service and knowledge by finding the right type of Physical Damage insurance protection within your budget. We are here to help with all of your trucking insurance needs, so don’t wait. Call us TODAY!