Federal law currently requires most interstate motor carriers to maintain at least $750,000 in liability insurance. That number was set by Congress back in 1980 by the Motor Carrier Act, and hasn’t been adjusted since, despite over four decades of inflation, skyrocketing medical costs, and the staggering expense of treating catastrophic injuries.
For victims of serious truck accidents, a $750,000 minimum is nowhere near enough to cover the costs of devastating injuries. Traumatic brain injuries, spinal cord damage, and amputations routinely generate millions of dollars in lifetime medical and care costs. And when you add up the true physical, financial, and emotional toll a devastating 18-wheeler accident has on truck crash victims, the federally mandated minimum simply cannot provide the financial resources needed for their families to move forward.
That’s why the Fair Compensation for Truck Crash Victims Act matters. Here’s what the proposed legislation would change, why the current insurance minimum falls so far short of what victims and their families need, and why you can’t afford to leave your future in the trucking company’s hands.
Our Undefeated Truck Accident Lawyers have won Billions for crash victims, including the #1 Largest Truck Accident Settlement in Texas and the #1 Largest Truck Accident Verdict in Texas, and we never back down until we’ve fought to secure the maximum compensation possible and the best medical care available for our clients.
The Fair Compensation for Truck Crash Victims Act
The Fair Compensation for Truck Crash Victims Act was introduced in the U.S. House of Representatives. This bill, also known as H.R. 8218, proposes two central changes to federal law:
- Raising the minimum liability insurance requirement for interstate motor carriers from $750,000 to $5,000,000
- Indexing that new minimum to medical-cost inflation going forward, so it can keep pace with economic trends
Supporters of the bill argue that $750,000 in coverage would need to exceed $5 million today just to match its original purchasing power when adjusted for the rising cost of medical care. The bill’s sponsors have pointed to families who exhausted a trucking company’s entire insurance policy while still facing years of ongoing medical expenses.
The Current Status of the Fair Compensation for Truck Crash Victims Act
As of now, the Fair Compensation for Truck Crash Victims Act is proposed legislation. It has not been enacted into law. It is currently under review by the House Committee on Transportation and Infrastructure.
Incidentally, similar versions of this bill have been introduced in prior sessions of Congress but have not passed. The trucking industry and its lobbyists have consistently opposed raising the federal minimum wage; they argue that higher insurance costs would disproportionately burden small carriers and potentially push some out of business.
The current $750,000 federal minimum remains the legal standard for most interstate trucking companies today. If you’re considering pursuing a truck accident case, the current $750,000 minimum is the applicable federal insurance requirement for most interstate trucking companies, not the proposed $5,000,000 figure.
Additional Sources of Compensation Beyond Trucking Policies
When a trucking company’s insurance policy is insufficient to cover your damages, recovering full compensation may require pursuing alternative insurance and asset sources.
Additional sources of recovery may include:
- First-party underinsured motorist coverage that steps in to provide compensation when the trucking company is underinsured
- Excess or umbrella policies that the trucking company carries beyond the federal minimum
- Separate policies held by other liable parties, such as a cargo loading company or maintenance contractor
In some cases, you may be able to seek a judgment from the at-fault driver or the company’s own assets. However, these assets may be limited by the business’s corporate structure or the driver’s personal savings.
An experienced truck accident attorney can help you identify every possible source of compensation in your case. The goal of any settlement is to cover a lifetime of care and address the full financial and personal losses occasioned by a brain injury, spinal cord injury, or other harm.
Contact Zehl & Associates To Schedule a Free Consultation With an Undefeated Houston Truck Accident Attorney
If you or a loved one has been seriously injured in a crash with a commercial truck in Houston, Texas, you may have a right to compensation. Don’t let a low-minimum insurance policy discourage you from taking legal action.
An experienced Houston truck accident lawyer can help you understand your options for seeking full damages. Contact Zehl & Associates today for a free case review.
We proudly serve Harris County, Midland County, and throughout the state of Texas. We are located in Houston and Midland and throughout the state of Texas:
Zehl & Associates Injury & Accident Lawyers – Houston
2700 Post Oak Blvd #1000, Houston, TX 77056
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