The Importance of Increasing Trucking Insurance Minimums
Category: Truck Accidents
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Crashes involving commercial trucks can cause severe and long-term injuries to drivers and occupants. The cost of lost wages, hospital stays, surgeries, physiotherapy, and various other necessary past and future medical care can easily exceed $1,000,000. Commercial truck insurance minimums need to provide adequate liability coverage for these crashes, but the current minimum liability insurance only requires $750,000.
This amount has shown disparity between the needs of victims and what companies have to have for coverage given that this amount has not changed in nearly 40 years. But pursuant to the INVEST in America Act, an amendment to the bill which was passed by the House Transportation and Infrastructure Committee in June would raise the minimum liability insurance of commercial motor vehicles to $2,000,000, something that is past due for many reasons.
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