A collision between a personal vehicle and a big rig can be devastating. Those involved may experience injury or death, while their loved ones are tasked with caring for them (if they’re lucky), or making arrangements for a memorial service (if they’re not). Under such tragic circumstances, the victims and their families should be provided with fair and adequate compensation to aid with their expenses. However, many commercial trucks carry the absolute minimum amount of insurance coverage— and typically, that’s not nearly enough.
The federal minimum for liability insurance for truckers is $750,000. Although that may sound like a lot of money, the damage that tractor trailers inflict in a collision often dwarfs this minimal sum. Congress set the minimum at $750,000 back in 1985, and has not been changed it since. It has not even been adjusted for inflation. If it were, the minimum would now be $2.2 million. Needless to say, the victims of collisions caused by negligent truck drivers are increasingly finding themselves fighting for compensation that is woefully insufficient to cover their medical bills.