Understanding Truck Accident Insurance Coverage

February 28, 2023 | By Francis Firm Injury Attorneys
Understanding Truck Accident Insurance Coverage

If you’ve suffered injuries in a trucking accident, you are likely wondering how you can recover compensation for your financial losses. The process of recovering compensation can be complicated, involved, and long, and it will certainly require you to deal extensively with the insurance companies involved. It’s important that you understand the main issues dealing with trucking accidents and insurance coverage and their potential effects on your claim.

What Types of Insurance Coverage is Present in Trucking Accident Cases?

When a truck driver causes injury to another driver, it is possible to hold the driver’s employer—the trucking company—responsible for those injuries, as long as certain elements are met. To do so, however, you will need to deal with another important party: the insurance company carrying the policies for the driver and the trucking company involved.

Generally, commercial trucking companies are required to maintain liability insurance, which is intended to compensate victims of accidents caused by their drivers for their financial losses. If the trucking company is transporting goods across state lines and the goods weigh over 10,000 pounds, then federal regulations require the company to carry at least $750,000 in liability insurance. That number increases to $1,000,000 if the company is carrying certain hazardous materials, including oil.

Moreover, even if the trucking company is not traveling across state lines, various states require minimum liability insurance coverage—the state of Texas, for example, mandates coverage of $250,000 in addition to the federal insurance requirements, for a total of $1,000,000 minimum coverage. In addition to requirements for the trucking company, in some circumstances such as in the case of independent contractors, the driver must also carry their own liability insurance policy. It’s important to note here that these amounts represent only the minimum requirements for trucking companies; some companies’ liability coverage may exceed the amounts noted in various laws.

What Are Some Important Points to Know About Trucking Accident Insurance Coverage?

  • Because both federal and state laws require trucking companies to carry insurance coverage, it is important to research carefully all of the insurance requirements involved. Understanding what requirements are imposed on the company and the driver is important, and it will be based on the specific circumstances of your case. Also, there are different types of policies that may be involved, including potentially expanded liability policies, where even more money may be on the line, particularly where damages are really high.
  • Multiple parties and insurance companies may be involved, making your case potentially even more complicated. Liability may extend to both the driver and the trucking company, and may even include other parties — such as a cargo or shipping company — if they are potentially liable for the cause of the accident. This means added complexity and complications to many truck accident cases, necessitating the help of an experienced truck accident attorney.
  • Negotiating with insurance companies often means a skewed balance of power. Insurance companies tend to have significant legal help and financial resources, and their goal is to pay out as little as possible in any case. An attorney with extensive experience negotiating and litigating truck accident claims can help balance out the powers, negotiating with the insurance companies on your behalf toward a favorable settlement offer.
  • The claims process in a trucking accident case can be complex and lengthy. A successful claim against an insurance company requires evidence and a thorough understanding of the law and the facts of your case. You should not try to process your claim alone—consult with a knowledgeable attorney who will advise you of your legal rights and options and work with you toward a fair resolution of your claim.

How Can The Francis Firm Help If You’re Fighting the Insurance Companies in Your Trucking Accident Case?

You shouldn’t let the trucking company and their insurer have the advantages in your case — contact an experienced, knowledgeable attorney who will focus on dealing with the insurance companies, so that you can focus on getting better. We will not only work on your behalf to obtain a fair and reasonable settlement but will also build a strong case on your behalf if a settlement is not possible and you need to take your claims to court.

Our experienced personal injury lawyers will inform you of your legal rights and options, and we will work with you to make sure you receive the medical care you need. If the insurance company refuses to offer full value in settlement, our trial-tested Texas personal injury lawyers are always ready to take them to court. Reach out to us today for a free, no-obligation initial legal consultation online or by calling 817-617-8639. With our office in Southlake, we serve communities throughout the Dallas/Fort Worth area, Tarrant County and Dallas County and other counties of Texas.