How Commercial Insurance Policies Affect Your Compensation
How Commercial Insurance Policies Affect Your Compensation
Blog Article
If you’re injured in a truck accident, your ability to receive fair compensation often depends on one major factor: the commercial insurance policy covering the truck. Unlike standard car accidents, truck accidents usually involve commercial vehicles with large insurance policies—and sometimes, multiple layers of coverage. Understanding how these policies work can be the key to getting the compensation you deserve.
What Is a Commercial Insurance Policy?
A commercial insurance policy is coverage purchased by a business or company to protect its vehicles, drivers, and operations. In the trucking industry, these policies are often required by law and are usually much larger than personal auto insurance policies due to the high risk and potential damage involved in trucking accidents.
The Federal Motor copyright Safety Administration (FMCSA) mandates that commercial trucks carry at least $750,000 to $5 million in liability coverage, depending on the type of cargo and vehicle.
Why Commercial Policies Matter in Truck Accidents
When a large truck causes a crash, the resulting damages are often severe. Victims may suffer from:
Traumatic injuries
Long-term disabilities
Expensive medical bills
Lost income and earning capacity
Pain and suffering
Because these costs can be significant, having access to a larger truck accident attorney is crucial. Unlike personal auto policies, commercial policies are designed to cover the full scope of losses caused by a business’s vehicle.
Who Is Covered Under the Policy?
Commercial trucking policies may cover more than just the driver. Depending on how the policy is written, it can include:
The trucking company
The truck driver (if an employee or listed on the policy)
The owner of the truck or trailer (if different from the company)
Third-party logistics providers
In some cases, multiple parties may carry separate policies that can contribute to a settlement or judgment.
Types of Commercial Truck Insurance Coverage
There are several types of coverage included in or added to a commercial trucking policy:
1. Primary Liability Insurance
Covers damages or injuries the truck driver causes to others in an accident.
2. General Liability Insurance
Protects the business against other non-driving-related accidents, like injuries at a loading dock.
3. Cargo Insurance
Covers damages to the freight being transported, not injuries or personal damages.
4. Umbrella or Excess Liability
This provides additional coverage when the primary policy limits are exceeded. It’s especially important in severe injury cases.
How Insurance Companies Respond
While large insurance policies may seem like a good thing, trucking companies and their insurers don’t give up compensation easily. They often:
Try to deny fault
Dispute the extent of injuries
Offer quick, low settlements
Delay claims hoping victims will settle for less
This is why it’s essential to work with a truck accident attorney who understands how to navigate commercial insurance claims and won’t be intimidated by large companies or complex policies.
How a Lawyer Uses the Policy to Maximize Your Compensation
An experienced lawyer will:
Request and review all relevant insurance policies
Identify every liable party and policy that applies
Negotiate directly with multiple insurers
Calculate full damages, including long-term costs
File lawsuits if the insurers refuse to pay fair compensation
If multiple policies apply, your attorney can often “stack” the policies to increase the total amount you can recover.
Conclusion
Commercial insurance policies play a huge role in truck accident claims. While they offer the possibility of higher compensation, they also involve more complexity and resistance from insurers. If you’ve been injured in a truck crash, don’t try to handle the insurance companies alone. A skilled attorney can identify all available coverage, negotiate on your behalf, and fight to make sure you get every dollar you’re entitled to.
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