Truck accidents can cause severe and catastrophic injuries to victims. The Federal Motor Carrier Safety Administration (FMCSA) is looking to increase the insurance minimum requirements on trucking carriers. The current minimum was set in 1985 and is $750,000. Because truck accidents often cause serious or fatal injuries, the medical expenses and wage loss associated with the accidents is often very high. Also, with inflation and the increasing cost of medical coverage, the 1985 insurance limits are extremely outdated. According to the consumer price index, $750,000 in 1985 would be equivalent to more than $1.62 million today with inflation. The $750,000 in 1985 would also be equivalent to $3.18 million in medical coverage today according to the medical consumer price index.
In the past few years the truck accident lawyers at Dallas W. Hartman, P.C. have represented many families which were devastated as a result of being involved in motor vehicle accidents involving tractor trailers. In one of these cases, a 40 year old married father of four was killed by a tractor trailer which struck his vehicle from behind. At the time of the accident the tractor trailer was going uphill, in a snowstorm with limited visibility. After impact the truck pushed the victim's car 790 feet up hill before both vehicles came to rest. The Decedent was a tool maker earning $20.55 per hour. The economic loss alone to this family was between $1,400,000 and $1,870,000. Because the trucking company only carried the minimal amount of insurance, $750,000, the truck accident attorneys at Dallas W. Hartman, P.C. were forced to look elsewhere to help this family reach full and fair compensation that would allow this family to, at a minimum, replace the financial loss they have experienced.
An increase in insurance minimums would place the responsibility of victim's medical expenses, wage loss, and pain and suffering on the trucking industry rather than society as a whole. If you or a loved one has been injured in a truck accident, call the truck accident lawyers at Dallas W. Hartman, P.C. today at 1-800-777-4081 for a free consultation.