How a Semi Truck Is Insured Could Make a Great Difference

Apart from the cost of gasoline, semi truck insurance is probably the largest expense a truck owner will make. For victims of a serious tractor-trailer crash in Louisiana, the way the truck is insured has a great impact on what compensation you can get if the truck owner or motor carrier is held liable.

Most owner-operator trucks can be used independently (the truck driver-owner operates for his or her own account) or under a lease with a motor carrier. If you have been involved in a crash caused by the truck driver, it is crucial to know which insurance contract will be activated and what the coverage amounts are. The main types of insurance are:

• Primary Liability Insurance: This type of insurance is required by law. It covers the truck owner operating for his or her own account for any injuries and damages the truck may cause to third parties while on the road. The minimum amount of coverage required by the Federal Motor Carrier Safety Administration (FMCSA) is $750,000, while most shippers and brokers require $1,000,000.
• General Liability Insurance: This insurance protects the truck owner against claims arising out of damage to products, vehicles, infrastructure or people on premises (not on the road) such as truck stops, shippers' docks, etc.
• Non-Trucking Liability: Provides liability coverage while the truck is operated for personal convenience, outside the scope of the motor carrier.

When a truck owner operates the truck under a leasing agreement for the account of a motor carrier, the motor carrier covers the primary liability risks, instead of the truck owner. After a serious crash caused by a large truck, it is critical to ask for the support of an experienced Louisiana truck accident attorney to make sure you get the highest compensation possible for your pain, suffering, medical and rehabilitation treatment, loss of income and material damage.
 
If you have been hurt in a truck accident caused by someone else, contact the New Orleans accident attorneys of the Young Firm for a FREE discussion of your case.