Trucking Insurance Requirements

Insurance is vital for any vehicle on the road, but the stakes are even higher regarding 18-wheeler trucks. Liability insurance plays a critical role in protecting individuals who might be injured in accidents involving these large vehicles. This article will guide you through the landscape of trucking insurance requirements.

The Role of Liability Insurance in Truck Accidents

When an 18-wheeler is involved in an accident, the trucking company’s insurance provider is supposed to step into action. The insurer will typically engage lawyers to represent the interests of the truck driver and the trucking company. If you have been injured by a Louisiana truck accident and file a claim, any settlement or verdict in your favor would usually be paid by the insurance company up to the policy limits.

In cases where the settlement or verdict is less than or equal to the insurance limits, the insurance company should pay the total amount owed to you. However, if the awarded amount exceeds the insurance limit, the insurer is typically only obligated to pay up to its limit. 

While insurance limits play a significant role in trucking accident damages, they aren’t the final word. If your settlement or verdict exceeds the insurer’s limit, other avenues of compensation may be available.

Understanding FMCSR’s Minimum Liability Insurance Limits

The Federal Motor Carrier Safety Regulations (FMCSR) set the minimum liability insurance limits that trucking companies must maintain. A trucking company must have a minimum liability insurance limit of $750,000 if it transports non-hazardous property.

However, the rules change if the company is transporting hazardous substances. In this case, a significantly higher coverage limit – $5,000,000 – is required. This increased coverage reflects the elevated risks involved in transporting hazardous cargo. 

If you or a loved one has suffered injuries in an 18-wheeler truck accident, you will need the experienced attorneys at Herman Herman Katz to explore your options and protect your interests. Contact us today at 844-943-7626 for a free, no-obligation case review.