Accidents with commercial trucks carry greater risk due to their size and momentum. According to the National Highway Traffic Safety Administration (NHTSA), in 2012, 3,921 people were killed and 104,000 people injured in crashes involving large trucks. In the United States, 333,000 large trucks were involved in traffic crashes during 2012.
Furthermore, in recent years, there has been an increase in fatalities caused by commercial truck accidents. NHSTA reports a four percent increase in fatalities involving large trucks from 2011 to 2012, bringing the total to 3,921. Seventy-three percent of these fatalities were occupants of other vehicles. However, despite the increased risks associated with commercial truck accidents, commercial trucks are only required to have $750,000 in liability insurance coverage. This means that the victim, or the victim’s insurance company, may be stuck footing the bill.
Recently, the Federal Motor Carrier Safety Administration (FMCSA) called into question the $750,000 minimum, which has been in place for over 30 years. While many trucking companies and truckers carry insurance beyond the minimum requirement, the FMCSA wanted to see if the public felt this minimum was sufficient. However, mostly trucking businesses responded, indicating that a spike in the minimum requirement would only hurt small businesses and consumers. The issue of raising the minimum insurance amount for commercial trucks has yet to be resolved.
If you’re involved in an accident with a commercial truck, it’s important to understand your rights, especially if you or a loved one have been grievously injured. Kryder Law’s personal injury lawyers are experienced at negotiating with insurance companies and can make sure you get the compensation you deserve.