Truck accidents are notorious for causing debilitating and life-threatening injuries. Between inpatient care and medical treatment, accident victims can find themselves sinking further into debt while waiting for their insurance claim to settle.
Hurt individuals and families depend on truck accident settlements for reimbursement. If a claim payout cannot cover expenses, injured persons can suffer financial hardship.
Commercial trucks have higher insurance requirements than passenger vehicles. Large trucks are typically owned by a company or a municipal. Coverage is necessary to protect the freight or passengers aboard.
Truck accidents cause serious injuries and property damage to other automobiles. Motor carrier vehicles range in size and types of cargo they carry. For instance, if the cargo is hazardous, the coverage must be higher according to federal and state laws.
The FMCSA regulates the minimum insurance requirements at the federal level. Insurance requirements change based on the size of the motor carrier vehicle, how many trailers it has, and whether the cargo is hazardous:
Truck accidents cause extensive property and bodily damage. In many cases, expenses exceed the policy limits.
Commercial truck injury claims have high financial stakes. Recovering losses requires adding economic and non-economic damages:
While the economic costs of a truck collision can be measured by adding expenses, the National Safety Council has created a comprehensive cost analysis measuring both economic and non-economic losses. The study divides the data by the severity of injuries sustained and averages out the cost per injured person.
According to the research:
Under FMCSA insurance requirements, only the heaviest commercial trucks transporting hazardous cargo will have high policy limits of $5 million. However, the average commercial truck on the road may only have a policy worth the minimum required liability: $300,000 or $750,000.
For a major truck accident with a disabling injury, the minimum policy is only a fraction of the recoverable costs.
Injured parties cannot collect damages over the at-fault driver’s policy limit. Instead, truck accident victims may need to file multiple claims to recover their losses.
While a truck driver is often held liable in a collision, other parties may share responsibility:
When negligence in a truck accident can be shared across multiple claims with different insurance companies, injury victims may be able to recover their full losses.
Large truck crashes take a devastating toll on injured persons. Filing multiple claims may help recover damages. However, if the injured motorist does not have auto insurance, they may be barred from filing any claims.
Louisiana requires all motorists to carry the following amounts of minimum liability coverage:
However, in the last reporting year, an estimated 11.7% of drivers did not carry the minimum required coverage. To reduce the number of uninsured drivers on the road, Louisiana has implemented a No Pay, No Play rule. According to the statute, an uninsured motorist is ineligible to file an insurance claim for injuries or property damage, regardless of fault.
There are exceptions to the statute that can affect a commercial vehicle accident. An uninsured motorist may be able to file an injury claim against a negligent truck driver in the following cases:
The Charbonnet Law Firm can assist a truck accident case by discovering all liable parties and filing multiple claims. Contact the truck accident attorneys at (504) 294-5075 to schedule a free consultation to discuss the details of the collision.
With over 50 years of legal experience serving families in the New Orleans area and surrounding Louisiana communities, our firm takes pride in providing clients with personalized legal services tailored to individual needs.
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