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James Michael Shaw
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INSURANCE LIMITS ON BIG TRUCKS
Analysis of data from the United States Government has found that the current minimum insurance requirements for truckers , commerical trucks and/or 18 wheelers trucks was found to be inadequate. According to the FMCSA, more than 4,000 people die every year in collisions with trucks and 80,000 more are seriously injured. Even though trucks make up less than 4% of all passenger vehicles on U.S. roads, they are involved in 12% of all motor vehicles fatalities.
The report concludes that the minimum insurance requirements for commercial trucks are “completely inadequate to compensate those who have been seriously injured in a collision involving multiple vehicles or multiple injured individuals.” It should be noted that U.S. Congress set the minimum level of insurance to $750,000 in 1980. When adjusted for inflation, $750,000 is only $292,000 in 1980 dollars.
Read the rest of this Blog here:
https://www.carabinshaw.com/insurance-limits-on-big-trucks.html
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