How Does Insurance Coverage Work for Interstate Trucks?

Interstate trucking companies must carry at least $750,000 in liability insurance coverage to pay for damages suffered by victims of crashes caused by their drivers. This is a very low minimum to cover these crashes, especially seeing as though many victims of truck accidents suffer serious or catastrophic injuries and have significant expenses and losses.

Fortunately, additional insurance coverage and assets are often available to cover these extensive losses, and our attorneys can help you exercise your right to full compensation. An experienced, knowledgeable Colorado truck accident lawyer from Cook, Bradford & Levy, LLC, can help you pursue compensation to cover all your losses.

We have a long and distinguished track record of winning cases for our clients injured in commercial truck accidents, and we would be honored to help you and your family as well. Contact us today at 303-543-1000 for a free consultation to learn more about how we can help you navigate interstate trucking carriers’ insurance coverage and prove your entitlement to a full settlement or judgment.

Under 49 CFR 387.9, all interstate trucking companies must have at least $750,000 coverage for their trucks. However, some types of vehicles have higher minimums, such as those transporting hazardous material. According to the Federal Motor Carrier Safety Administration (FMCSA), this minimum can be achieved by one of the following proofs of insurance:

• Insurance
• Surety bonds
• Written authorization from FMCSA to be self-insured

These federal minimum insurance rules apply to interstate trucking companies. That is, truck carriers that cross state lines. Most companies operate nationwide (or regionally) and continually cross state lines and are therefore required to have at least $750,000 in coverage. The good news is that many trucking companies carry more insurance than the minimum.

It would be impossible for trucking companies to keep up with state laws that differ greatly from one another. So, federal regulations make it possible to oversee interstate trucking from one agency. Again, federal laws provide the floor, or minimum amount of coverage.

The federal minimum insurance requirement for interstate trucks is shockingly low when you consider the severity of these crashes and injuries.

According to the National Highway Traffic Safety Administration (NHTSA), 5,936 people died in traffic crashes involving large trucks across the United States in 2022. Of these, 70 percent were occupants of other vehicles involved in the collision. Colorado alone saw 100 large trucks involved in fatal truck accidents that same year, representing 9.2 percent of all vehicles involved in fatal crashes in the state. Of the 107 deaths in Colorado large truck accidents, 87 were occupants of other vehicles, pedestrians, or cyclists. Incidents where people were maimed, suffered amputations, or otherwise seriously injured are far higher than the number of deaths.

When occupants of other vehicles survive their injuries, they often face life-altering injuries or months of rehabilitation. They may require ambulance or medevac transportation to one of Colorado’s many trauma centers, for example. Many require emergency care, surgery, hospitalization, inpatient rehabilitation, long-term therapies, and ongoing care for months, years, or the rest of their lives.

Some victims of truck accidents cannot return to work or their previous activities because of traumatic brain injuries (TBIs), spinal cord injuries (SCIs), amputations, and other serious injuries. Interstate truck carriers’ insurance would need to pay:

• Medical care, rehabilitation, and future care costs
• Lost income
• Property damage
• Pain and suffering
• Environmental restoration if harmful materials spilled

For many, the federal $750,000 minimum coverage simply does not cover all their costs. Our attorneys at Cook, Bradford & Levy, LLC, know, however, that most truck accident victims in Colorado have access to more than just this minimum coverage. This can come from the at-fault’s assets, or your own Uninsured/Underinsured Motorist coverage on your car or motorcycle insurance policy.

Our Colorado truck accident attorneys identify and explore all your options following a large truck accident. We know that many trucking companies carry more liability coverage than required. They know the risks of not having enough coverage when one of their drivers causes a serious accident: their assets are at risk.

If the trucking company does not have adequate coverage to pay a victim’s bills following a collision, the court could order them to use their assets to pay the judgment.

Our Colorado personal injury lawyers know how to fight aggressively for the money our clients deserve after a catastrophic injury accident. We can help you get justice if this happens to you, even if your losses stretch beyond the $750,000 minimum policy for truck carriers. In fact, our attorneys have recovered more than this minimum for several of our truck accident clients across several counties in Colorado. Some of our recent verdicts and settlements include:

• $7,395,500: Cheyenne County truck accident settlement
• $2,000,000: Truck collision settlement
• $1,330,000: Boulder County truck crash settlement
• $1,000,000: Adams County truck crash settlement on morning of trial
• $950,000: Boulder County cement truck accident settlement

At Cook, Bradford & Levy, LLC, our Colorado truck accident lawyers handle these cases regularly. We fight for the compensation our clients need and deserve to cover their injuries, expenses, and losses. We understand how important it is for our clients to recover money for the full range of damages. If this happens to you, we will fight for your fair payout, too.

Unlike a car accident case, truck crash liability is more complicated. Our attorneys generally build a case and pursue compensation based on the trucking company’s insurance coverage, not the individual driver. To this end, our attorneys take the following steps in managing a case:

• Protecting our client’s rights
• Preserving evidence quickly, including sending a spoliation letter to the trucking company
• Documenting damages and working with experts to understand future expenses
• Managing communication with all involved parties in a compassionate manner
• Managing any other claims, such as with a health insurance company
• Ensuring all deadlines are met, including the statute of limitations set by CO. Rev. Stat. § 13-80-101

Our law firm represents victims of truck accidents in Colorado based on contingency. We do not charge upfront fees to begin work on your case. There is no need to pay a retainer, either. We only get paid if we recover compensation for you.

Cook, Bradford & Levy, LLC, provides free consultations. You can learn more about your truck accident case and your legal options. Discuss how our Colorado truck accident lawyer can help you without upfront fees or costs.

Contact us by calling (303) 543-1000 today!