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Florida Truck Accident Attorneys Discuss Increasing Truck Insurance Coverage

There are many things that must be dealt with after a serious accident involving a tractor-trailer or other large truck. This includes getting emergency medical treatment, enduring long-term care and rehabilitation, getting money for lost wages and additional costs that are the result of the crash, and receiving compensation for pain and suffering. When the crash is severe, the damages might be millions of dollars. If a person is killed in the accident, the damages increase even more. Many accident victims are blind-sided when they discover that the insurance coverage of the truck driver or trucking company is not sufficient to satisfy the financial burden caused by the crash and its long-term consequences.

After a serious truck accident, it is important to have the right legal help to put together the case necessary to recover the compensation that a victim needs to rebuild his life, and that of his family, after a severe crash. The compassionate and skilled Miami car accident lawyers at Greenberg Stone and Urbano have more than 130 years of experience in getting justice for victims of a truck crash. Our attorneys will do everything possible to maximize the recovery.

In order to ensure that a truck driver or trucking company has sufficient insurance to cover the damages that result from the accident, there is a minimum insurance policy that must be carried for those trucks involved in interstate commerce. To address the disparity that currently exists between the amount of required coverage and the damages from a serious crash, the Federal Motor Carrier Safety Administration (FMCSA) is contemplating requiring commercial truck and bus drivers/companies to carry more insurances. At this time, the current insurance requirement is a policy that covers $750,000.00 worth of damages. Vehicles weighing less than 10,000 pounds only need to have policies in the amount of $300,000.00. Those vehicles that haul hazardous materials may be required to carry a policy as much as five million dollars. However, when a person is killed in a truck crash, it is estimated that the damages is more than four million dollars. There has not been an adjustment in the required amount of insurance coverage for more than 30 years, which is why many accident victims and their families find themselves with damages that are not covered.

The FMCSA has begun the process of analyzing demands on insurance policies following truck accidents in order to make determinations about what changes are necessary. The FMCSA has reported its initial conclusions to Congress and concluded that the fatalities and serious injuries that result from truck crashes cost far more than the minimum insurance amounts that are in place at present. Almost 4,000 people are killed in commercial truck accidents each year. It is critical that the truck drivers or trucking companies have sufficient insurance to compensate victims for the horrific damages that are suffered.

The FMCSA has set forth a series of 26 questions for comment as part of the Advanced Notice of Proposed Rulemaking (ANPRM) in order to gather information to form the basis for revisions in the insurance coverage laws. This initial information-gathering period ends in February 2015. The changes would affect interstate motor carriers, as well as freight forwarders and self-insurers.

Greenberg Stone and Urbano Advocates for Justice for Truck Accident Victims

A person who has suffered from serious injuries after a truck crash needs the assistance of attorneys who understand all the challenges of a tractor-trailer case. The South Florida truck accident law firm of Greenberg Stone and Urbano has spent more than 30 years fighting for the rights of our clients. The firm has received an AV rating from Martindale Hubbell, which is a peer-based rating that recognizes our firm’s dedication to our clients. We also were voted one of South Florida’s top-rated firms by the Miami Herald. Call us at (888) 499-9700 or (305) 595-2400 or visit our website to schedule an initial appointment so that we can discuss what happened to you.

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