You are checking for defects, ensuring the vehicle is safe to operate, and you are checking to see if you have all your most important parts of equipment (safety, operational, and other required items).
If you were to find damage or other defects to the vehicle it needs to be reported right away. There are a couple of reasons for this. The first is for safety. You want to ensure that the vehicle you are about to operate is safe to do so.
The second is for mechanical reasons. Though you might think this is the same as safety, well yes and no.
Source: www.overdriveonline.com
However, keep in mind not every mechanical failure will result in an unsafe act, but it could. If you have a burn out head lamp, chances are nothing serious will happen. (Besides getting a ticket and paying a fine.) But if you have failing retreads and don’t catch it, the rubber could fly off and cause an accident. (That would result is much more severe consequences, in addition to the fines.)
The last reason is the most obvious yet the most over looked! You are responsible for the condition of the vehicle you sign for. If you get pulled over for a violation that should have been found and reported during your DOT pre-trip inspection, it is on you.