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TRUCKING COMPANIES AND TRUCK DRIVERS: DO YOU NEED PHYSICAL DAMAGE COVERAGE?

Updated: Apr 13


semi truck turned over on the road

Whether you’re a big time or small scale trucking company or an independent owner-operator (O/O), finding the right insurance at the best prices is a must. How can you be sure you're choosing solid coverage that will protect you when you need it most? Working with Zinc Insurance pros is a start, but you’ll also need some key pieces of data, like your truck and trailer values, cargo, and O/O status.

Start With Primary Liability Insurance

We’ve already laid out reasons why it’s so important to carry a primary liability insurance policy. Coverage should be at least $750,000 to cover potential bodily injury and/or property damage to third parties, but that’s just the bare minimum. A primary liability policy of at least $1M is really more realistic these days to satisfy clients and ensure you’re well-protected. If you’re an O/O under a permanent lease (LO/O) you’ll typically be provided with a primary liability package by your motor carrier. On the other hand, O/Os with authority will need to secure their own primary liability coverage.

Physical Damage Insurance

Physical damage (PD) insurance will pay for damages and repairs to your truck so long as they are what us insurance folks call “covered perils.” If your vehicle accident, natural disaster, or incident of theft or vandalism is on that list, then you’re golden. Check with your Zinc agent to see if there are any add-ons that can make your policy even more protective. PD insurance covers the actual cash value (ACV) of your trucks and equipment at the time of loss, and it’s broken into two types of coverage levels–comprehensive and collision. As its name suggests, collision coverage is there to repair your rig if you’re in an accident. Comprehensive coverage is more focused on perils that don’t occur while driving. Both are necessary, and according to Josh-Zinc’s resident trucking insurance expert-many motor carriers out there need to increase their PD coverage limit. That upfront cost is well worth it to know that come what may, you’ll be able to get back out on the road and do your job.

How Much Does Physical Damage Coverage Cost?

Costs could vary widely from one driver to the next, but there are certain known factors can affect the cost of any type of trucking insurance:

  • Ownership status

  • Vehicle type

  • Driving history and experience

  • Location

  • Operating radius

  • Business type

  • Coverage requirements

For physical damage coverage in specific, you’re likely looking at a cost of about 2.5% to 5% of a truck's value. Premiums are often capped at anywhere from $1000 to $3000. This is why it’s vital to have an accurate idea of what your truck is worth. And no matter the policy premium, there are always ways to save. Your trusted Insurance for Truckers and Zinc agent can help.

Work With The Pros

As regulations shift and countless factors come into play, it can be difficult to know which coverage is best. Since each state has their own insurance requirements, there’s a lot to know. Lucky for you, there’s help at the ready, from Insurance For Truckers and Zinc. This trained group of trucking insurance experts knows your industry, but can also help you to decipher coverage options and insurance-speak. Together we can track down the right policy. So let’s get you on the road to protecting yourself and your livelihood. Zinc will help you to meet these challenges while still operating a profitable business. Reach out today to learn more and request a free quote to get the ball rolling.


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This blog post does not provide insurance advice and is intended for information purposes only. It is not a substitute for professional insurance advice from a licensed representative. Never ignore professional insurance advice because of something you have read in this blog post. Contact your licensed representative if you have any questions about your insurance policy.

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