Full Coverage/Physical Damage Insurance


What Is Full Coverage or Physical Damage Insurance?

Full Coverage or Physical Damage Insurance (also known as a Fire, Theft and Collision policy) is a combination of collision coverage, which applies to damage sustained when a covered vehicle collides with another vehicle or inanimate object, and comprehensive coverage, which applies to losses caused by fire, theft or other similar causes. It is coverage that protects YOUR vehicle. Full Coverage or Physical Damage policies typically cover the lesser of (a) the cost to repair the vehicle to its pre-loss condition and (b) the cost to replace the vehicle with one of the like kind and quality at the time of the loss. These policies are subject to a deductible, which is the amount you are responsible for paying before the insurance applies. Please note a Full Coverage or Physical Damage policy is in addition to, and separate from, a liability policy which primarily covers bodily injury and property damage to other vehicles or property.

Do I Need Full Coverage or Physical Damage Insurance?

Maybe. Often, lenders and leasing companies will require customers to have both liability coverage and physical damage coverage. However, only Taxi and Limousine Commission (TLC) Liability Insurance is mandatory under the TLC’s insurance requirements

How Do I Purchase Physical Damage Insurance?

For nearly 50 years, Pearland Brokerage has provided insurance quotes to thousands of drivers and vehicle owners. Our experienced insurance brokers have a complete understanding of the insurance requirements for both commercial and personal auto. We quote Full Coverage and Physical Damage policies through the major carriers to find the right insurance policy for you.