Physical Damage is insurance that covers you in the event that your vehicle or equipment is stolen, is in a collision, or is otherwise damaged. It will provide coverage if your vehicle is damaged in an accident, fire, is stolen or in collision with another object.
There are two main types of coverage for Physical Damage insurance: Collision and Comprehensive
Collision - This insurance will cover you if your truck is in an accident with another vehicle or has collided with another object.
Comprehensive - This is insurance will protect you in the event that your truck has damages that were not caused by a collision. This may include fire, natural disaster or damages caused by towing or derailment. This coverage does not cover you if your damages are caused by mishandling of your vehicle and will not cover general wear and tear.
When you get comprehensive insurance, you will chose a deductible amount that will be the maximum you will pay before your coverage starts and up to a specified amount. We have a wide range of policies to suit your needs including low deductible policies so that out of pocket expenses can be kept to a minimum should you have an accident. You will choose your deductible when signing up for your policy. Just be sure to choose an amount that you can afford so you are not further burdened if you should have damages to your truck.
Even though the law may not necessitate comprehensive coverage, your lender may require it as part of your loan. If you own your truck out right then this coverage may be optional.