Insurance and Serious Accident Claims
You are a motorist on the road, a large truck, a semi tractor-trailer, without warning, pulls into your lane hits you and sends you into the guard rail. Your car flips and comes to a rest on its top. You and your family have on seat belts and survive a potential wrongful death, but your family has suffered serious personal injury. Your first concern is getting proper medical attention. In a few days you are assured that everyone will heal, but it will take a lot of therapy and pain. Who is going to pay for it? Well, the law says that the trucker who caused the highway collision , and his employer, are responsible for paying to make up for the harm they cause. You can rest easy knowing that in order for the truck to be on the road it is required to have insurance to pay for the harm caused by the tractor-trailer accident. It’s the law. The Federal Motor Carrier Safety Regulations (FMCFR) mandate the following:
387.7 Financial responsibility required.(a) No motor carrier shall operate a motor vehicle until the motor carrier has obtained and has in effect the minimum levels of financial responsibility as set forth in §387.9 of this subpart.(b)(1) Policies of insurance, surety bonds, and endorsements required under this section shall remain in effect continuously until terminated. Cancellation may be effected by the insurer or the insured motor carrier giving 35 days’ notice in writing to the other. The 35 days’ notice shall commence to run from the date the notice is mailed. Proof of mailing shall be sufficient proof of notice.
The minimum amount of insurance is $750,000.00. Most responsible trucking companies carry more than this minimum amount. They carry more because large truck collisions cause serious personal injury including amputations, paralysis, and wrongful death.
Rest assured Indiana Law also states that all cars on the road are also required to carry liability insurance.
If you are ever on a jury, know that the person who caused the harm has insurance, and that the insurance will pay for the harm done. The driver is not going to have to pay for the harm out of their own pocket.