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Who pays for the costs of a semi-truck collision?

On Behalf of | Oct 5, 2024 | Motor Vehicle Accidents

Motor vehicle collisions can inspire massive expenses in just a few seconds. People may have medical costs they have to cover. When injuries are serious, they may result in lost wages or reduced earning potential. If someone dies, injury-related costs may extend to their funeral expenses and a lifetime of lost income for their surviving family members.

The cost of a collision can range from a few hundred dollars to repair cosmetic damage to the vehicles to millions of dollars in lifetime care costs and lost income. Certain types of crashes tend to be more severe than others. Commercial collisions involving semi-trucks and other large vehicles can cause absolute devastation to smaller vehicles and their occupants.

Who typically pays for the costs generated in a semi-truck crash?

Commercial insurance

If a truck weighs 10,001 pounds or more, it is subject to federal insurance requirements. Instead of carrying coverage that aligns with state insurance rules, the truck must adhere to the standards established by the Federal Motor Carrier Safety Administration (FMCSA). The baseline coverage required for heavy commercial trucks is at least $750,000 worth of liability coverage.

Vehicles transporting hazardous materials may have higher coverage than the baseline FMCSA requirement. Those injured in semi-truck crashes or seeking compensation after the loss of a loved one have more robust insurance available. However, higher policy limits typically translate to more complicated claims, as insurance companies may be very assertive in their attempts to diminish financial liability.

A transportation company

In some cases involving astronomical losses, a lawsuit against the commercial transportation company might be necessary. The lifetime earning potential of a well-compensated professional could be substantially higher than the insurance carried on a commercial truck.

For litigation to be an option, there typically needs to be proof of negligence or misconduct. Liability related to a driver’s actions often passes to their employer. Companies can also be liable in scenarios where they hire someone with a dangerous driving record or inadequate experience.

Businesses may also be liable if issues with vehicle maintenance cause the crash. Employment practices can also contribute to crash risk by forcing drivers to speed, handle digital devices or stay on the road for longer than they should. Occasionally, there may be a liability for the driver as well, but transportation companies tend to have more resources available for the compensation of injured individuals and grieving families.

Exploring the different options for compensation after a semi-truck crash can help people limit the economic harm caused by a collision. A combination of insurance and litigation is often necessary to fully offset the massive financial impact of a commercial vehicle collision.