What happens if you are in an accident caused by a commercial truck driver? If you are fortunate enough to come away with your life, there is the distinct possibility that the trucker doesn't have enough insurance to cover your expenses, let alone lifelong pain and suffering.
What makes matters worse, there's evidence that commercial truck accidents are on the rise. According to the Federal Motor Carrier Safety Administration (FMCSA), fatal truck accidents in 2011 rose a little over 11 percent from the 2009 numbers. Arguments as to why this is occurring aside, it means there may be an increased likelihood that the victims and their families will not get the compensation they deserve.
A Flawed Trucker Compensation Model
What may be at the heart of the problem is how professional truck drivers are compensated. Rather than being paid by the hour or on salary like most people, they are paid by the miles driven. This incentivizes truckers to cover as much ground in the shortest amount of time possible and be tempted to ignore safe driving practices.
But, back to the question at hand: why haven’t insurance minimums changed in over 30 years? The FMCSA requires that truckers only carry insurance for up to $750,000 per incident. It's been that way since 1980!
