Are Trucks Required By Federal Law To Have Insurance

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Interstate trucks are required by federal law to carry a certain amount of minimum insurance coverage. In addition to federal laws, there are individual state laws mandating trucks to carry insurance. These insurance requirements are in place to protect the victims of truck accidents from truckers and companies that cannot afford to pay any compensation to truck accident victims from their own pockets.

Under Title 49, Section 387 of the United States Code of Federal Regulations, the minimum requirements for insurance for trucks that have a gross weight of 10,000 pounds or more have been established. Here's a look at these requirements:

A truck carrying only non-hazardous general goods is required to have a minimum of $750,000 in insurance coverage for damage to property or injuries to people.
Any truck that transports HAZMAT goods (excluding any type of explosives) needs to have a minimum insurance cover of $1,000,000, for bodily injury and damage to property.
A commercial truck carrying HAZMAT goods and/or explosives has to have a minimum insurance of $5,000,000 for bodily injury and property destruction.
Trucks that have a gross weight of less than 10,000 pounds have to carry $300,000 in insurance for general goods, and $5,000,000 for HAZMAT goods.

These are just the federal insurance requirements for trucks; most states having their own individual insurance cover limits. Because of the size, weight, and physical dynamics of a truck, any truck accident is likely to result in severe injuries to people involved in it and also has greater potential for damage to property. Thus, the minimum insurance requirements for trucks are much higher than that for smaller vehicles and cars.

This also means that there is a scope for much higher damages and compensation in a truck accident case than in any other kind of auto accident lawsuit. This is why, if you have been injured in any kind of truck accident, you need to immediately obtain the services of an experienced and competent lawyer.

Since there are huge sums of insurance money involved in truck accidents, and because there can be several defendants in one truck accident lawsuit, the amount that is available for pay out of damages is quite significant. With the average cost of a truck accident approaching nearly $125,000, there are many payoffs available.

It's important to remember that truckers and trucking companies have skilled insurance agents and officers working for them who will do everything in their power to make you settle for the least amount possible for your truck accident injuries. Contacting an experienced truck accident attorney is the first step in counteracting the skills and expertise of these agents leveling the playing field.

But you should be aware that because of federal insurance requirements, most trucks carry great amounts of insurance coverage, and you should get everything that you are entitled to. Dealing with insurance adjusters of trucking companies is not an easy job, especially if you are in shock because of your truck accident. Thus, it is very essential that you have a reliable and expert attorney at your side, who can handle the insurance people and trucking companies on your behalf, and make them pay each and every cent that you deserve for your injuries.


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