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How Much Liability Insurance Do Truckers Carry?

How Much Liability Insurance Do Truckers Carry?

Collisions with underinsured motorists are a worrying proposition in any scenario, but there are few cases where the question of insurance limits comes up faster than in truck accidents. Due to the severity of truck accidents, you’ll likely have extensive damages to receive compensation for, necessitating an intimate knowledge of the insurance minimums and limits involved in your case.

Varying Insurance Minimums

So, how much liability insurance will a trucker or truck company carry? Depending on the size and cargo of a truck, federal truck insurance minimums range from $300,000 to $5,000,000. Though there are always exceptions with interstate commerce, truck carrier insurance requirements in Arizona can be broken down as follows:

  • 11-2 How Much Liability Insurance Do Truckers Carry?$300,000 for non-hazardous cargo transported in small trucks (10,000 lbs. or less). In Arizona, this also includes household goods.
  • $750,000 for general, non-hazardous freight in larger trucks. This classification applies to the majority of freight trucks and is consistent between federal and state-wide laws.
  • $1,000,000 for tanker trucks transporting oil, which is 
  • $1,500,000 for passenger vehicles seating 15 or fewer 
  • $5,000,000 for all other passenger vehicles
  • $5,000,000 for hazmat transporters hauling toxic, radioactive, or especially explosive freight

Note that these insurance requirements tend to completely supersede any and all terms put forth by the truck insurer. This means that even if a truck company’s insurance policy excludes certain vehicles, drivers, or types of accidents from their coverage, they may still be on the hook to compensate you regardless. Understanding this distinction between insurer authority and legal requirements can be complex, so it’s best to talk to an Arizona truck accident attorney to learn more.

Securing Compensation for Arizona Truck Accidents

Insurance concerns are oftentimes the most complex aspect of a truck accident case, involving no end of exceptions, loopholes, and technicalities to piece together. While it’s not altogether impossible for a layman to work through these issues, we strongly advise contacting a lawyer to handle things on your behalf, as they’ll be far better equipped with knowledge and experience.

Beyond the difficulties of piecing insurance policies together, you’ll also be subjected to Arizona’s pure comparative fault system, which will directly reduce your total compensation in proportion to your level of personal liability. For example, if you’re found to be 20% to blame for the accident, but have $10,000 of damages to cover, you’ll only receive a maximum of $8,000. While the average truck accident settlement tends to stretch into the hundreds of thousands, it’s not uncommon to need compensation in the range of millions of dollars due to the overwhelming damages one often sustains when hit by a truck. Because of this disparity in settlement values, even small shifts in comparative fault could lose you tens of thousands of dollars, necessitating the assistance of a talented attorney to defend your case.

ELG can help you with all of these issues and more, so give us a call at (623) 877-3600 to schedule a free consultation with a legal professional who cares. We have extensive experience with all manner of truck accidents, and can undoubtedly help you reach a comfortable, fair recovery, relieving you of stress in the process.