ARE THERE SPECIAL INSURANCE REQUIREMENTS FOR SEMI-TRUCKS?
Posted By Robert Sparks || Oct 11, 2013
Semi-trucks are a part of American transportation and provide a valuable mode of transportation for commerce. Given their size and power, semi-trucks can create a danger on the roadways.
As a result, state and federal governments have implemented laws designed to protect the public and to assure that injured members of the public are able to recover from negligent authorized interstate carriers. The main assurance by which the public is assured the ability to obtain a judgment is the insurance regulations imposed on semi-trucks. Each of the motor carriers have a financial responsibility requirement which mandates that they must purchase insurance and file a proof of insurance with certain government agencies.
In general, motor carriers are required to maintain minimum levels of insurance. The US code governing interstate motor carriers requires that in most instances, a motor carrier of non-hazardous property must maintain at least $750,000 worth of insurance. Those carriers that transport hazardous material have to carry and increased amount of $5 million.
There are insurance requirements for semi-trucks, and these requirements are designed to protect the public. If you or a loved one has suffered an injury in an accident as a result of the negligence of a semi or tractor trailer we invite you to contact Givens Givens Sparks for a free case evaluation.