How Much Insurance Do Trucking Companies Carry?

You’ve been hit by a truck. Your injuries are serious, the bills are mounting, and you’re wondering: “Will the trucking company’s insurance even cover all this?” It’s a question that keeps many accident victims awake at night, staring at hospital bills they never expected to face.

The good news? Trucking companies typically carry far more insurance than regular drivers, sometimes millions of dollars in coverage. Since 1973, Lafferty Gallagher & Scott has been helping truck accident victims understand their options and pursue the compensation they deserve. Let’s explore what trucking insurance looks like so you can understand what the future might look like for your claim.

Why Trucking Accidents Demand Different Insurance

Truck accidents aren’t just bigger versions of car crashes. When an 80,000-pound semi collides with a passenger vehicle, the devastation can be catastrophic. Broken bones, traumatic brain injuries, spinal cord damage; these aren’t minor fender-benders.

This scale of destruction is exactly why trucking companies carry substantially larger insurance policies. The potential for severe injuries and property damage means bigger settlements and higher medical costs. Multiple parties often get involved, too: the truck driver, the trucking company, equipment manufacturers, and various insurers.

Federal Insurance Requirements

Federal law sets minimum insurance requirements for commercial trucking operations, but these are often just the starting point.

Federal Minimums:

• $750,000 for general freight
• $1 million or more for hazardous materials
• Up to $5 million for certain dangerous cargo

What This Means for Your Truck Accident Claim

Here’s what many accident victims don’t realize: there’s often enough insurance coverage to fully compensate for serious injuries and long-term losses. Trucking insurance policies are designed to cover:

• Medical bills (both current and future treatment)
• Lost wages and reduced earning capacity
• Pain and suffering
• Property damage
• Rehabilitation costs

However, trucking insurance policies are frequently layered and complex. There might be multiple policies from different insurers, corporate liability protections, and coverage disputes between insurance companies. Understanding which policies apply and how much coverage exists requires experienced legal analysis.

The Challenges You’ll Face

Don’t expect insurance companies to make this easy. Trucking insurers are aggressive about protecting their bottom line, and they have teams of adjusters and lawyers working to minimize payouts.

Common tactics include:

• Delaying investigations and claim processing
• Disputing the extent of your injuries
• Offering quick, lowball settlements before you understand your full damages
• Arguing that you contributed to the accident

These companies count on accident victims feeling stressed and accepting less than they deserve.

How an Experienced Attorney Maximizes Your Recovery

A skilled trucking accident attorney brings crucial advantages to your case. They can identify all available insurance policies, including ones you might never discover on your own. They know how to calculate the true value of your damages, including future medical needs and lost earning capacity.

Perhaps most importantly, they handle all communication with insurance companies, preventing you from inadvertently saying something that could harm your claim. While you focus on healing, your attorney fights for every dollar you deserve.

Fight for What’s Fair

The insurance resources are often there to fully compensate truck accident victims, but you’ll have to fight for what’s fair. Trucking companies and their insurers have substantial financial incentives to minimize your settlement, regardless of how severely you’ve been injured.

Don’t face this battle alone. The experienced attorneys at Lafferty Gallagher & Scott understand the complexities of trucking insurance and have the resources to take on major trucking companies and their insurers. Contact us today to start pursuing fair compensation. Your recovery shouldn’t be limited by an insurance company’s reluctance to pay.