On January 19, 2000, at 2307 eastern standard time, a Cessna 208B, N9457B, owned and operated by Planemasters LTD, of West Chicago, Illinois, sustained substantial damage during an on-ground collision with terrain following a precautionary landing and subsequent overrun immediately after takeoff from runway 27 (6,000 feet by 150 feet, snow covered/asphalt) at the Warsaw Municipal Airport, Warsaw, Indiana. Instrument meteorological conditions prevailed at the time of the accident. The cargo flight was operating under the provisions of 14 CFR Part 135 and was on an active IFR flight plan. The commercial rated pilot reported no injuries. The flight was originating at the time of the accident and had the intended destination of Clark County Airport, Jeffersonville, Indiana. According to the pilot's written statement, he taxied the airplane to the approach-end of runway 27 and announced on the UNICOM frequency his intentions of taking-off runway 27. The pilot reported that, shortly after takeoff, he "...noticed a plow truck coming south, and started to abort and realized I couldn't and tried [to] keep flying, but couldn't, and put it [the airplane] down turning to miss any objects...". The aircraft impacted the perimeter fence of the airport and came to rest on a railroad track embankment. The pilot did not report any anomalies with the airplane or its engine. The pilot stated that he did not hear any advisories from the plow truck on the UNICOM frequency. According to the snow-plow operator's written statement, he was removing snow from the taxiway for runway 18-36 which was approximately 100 feet north of runway 09-27 at the time of the accident. In a telephone conversation, with the investigator-in-charge, the snowplow operator stated that runway 27 had been cleared of snow earlier in the evening, but had accumulated approximately .25-inches of snow at the time of the accident.