Coated components used in industry are often exposed to repetitive dynamic impact load. The dynamic impact test is a suitable method for the study of thin protective coatings under such conditions. Aim of this paper is to describe the method of dynamic impact testing and the novel concepts of evaluation of the impact test results, such as the impact resistance and the impact deformation rate. All of the presented results were obtained by testing two W-B-C coatings with different C/W ratio. Different impact test results are discussed with respect to the coatings microstructure, the chemical and phase composition, and the mechanical properties. It is shown that coating adhesion to the HSS substrate played a crucial role in the coatings’ impact lifetime.