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Truck Owners May Face Two Million Dollar Minimum Insurance Requirement


June 22, 2020

USA- Freightwaves.com writes that lawmakers introduced a new amendment addressing transportation infrastructure which includes a requirement that truck owners carry $2 million in insurance. The current minimum policy for truck owners is $750,000, meaning the new law, if passed by the House and Senate, would more than double the mandatory coverage.*

The House Transportation & Infrastructure Committee passed the bill this week, and it will now head to the House for a vote before going to Senate. Those in favor of the law state that the coverage carried by many truck companies fails to adequately cover losses for victims who are involved in crashes with large trucks. 

Many also oppose the bill stating that it will be too costly for small business owners to afford coverage. 

Crashes involving large trucks killed 4,136 people in America in 2018. The majority of the victims are people who were in passenger cars. While 67 percent of the individuals killed were occupants of vehicles that were in wrecks with trucks, and another fifteen percent were pedestrians, bicyclists, and motorcyclists, only sixteen percent of those killed were people in the trucks. 

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While we hope you are safe and never need our services, our Truck Accident Attorneys are here to help you if you are involved in any type of accident or just have a question.  Call Montlick & Associates, Injury Attorneys, for your free consultation today. Our law firm has been representing those who suffer serious injuries for over 37 years and our attorneys have recovered billions of dollars in compensation for personal injury claims and collision lawsuit settlements for our clients. We Know What It Takes To Win!

If you are having trouble obtaining compensation for medical bills, lost wages, rental car reimbursement, and other accident-related costs from the at-fault drivers insurance company adjuster, call to learn about your rights. 

No matter where you are located our lawyers are just a phone call away, and we will even come to you. Call us nationwide 24 hours day/7 days a week for your Free Consultation at 1-800-LAW-NEED (1-800-529-6333), or simply dial #WIN (#946) from your mobile phone. You can also visit us online at Montlick.com and use our Free Case Evaluation Form or Free 24-hour live chat.

Source:

https://www.freightwaves.com/news/house-vote-imminent-to-raise-mandatory-insurance-coverage-to-2-million

https://www.cnn.com/2019/06/17/us/crumbling-american-infrastructure/index.html

https://www.iihs.org/topics/fatality-statistics/detail/large-trucks

Category: Truck Accidents

Please Note:
Many of our blog articles discuss the law. All information provided about the law is very general in nature and should not be relied upon as legal advice. Every situation is different, and should be analyzed by a lawyer who can provide individualized advice based on the facts involved in your unique situation, and a consideration of all of the nuances of the statutes and case law that apply at the time.