How Can Truckers NOT Be Insured? Insurance Rules in Florida Truck Accident Cases
After surviving a truck accident in Florida, you may think the worst is over. You’ve been injured and the pain is intense, but there’s no way you’re going to have to pay for your injuries… right?
Believe it or not, there have been cases where victims of truck accidents had to pay for their injuries with their own insurance because the trucking company did not have enough insurance to cover the costs.
How does this happen?
Quite simply, it shouldn’t. The commercial truck industry is regulated by the U.S. Department of Transportation. Truck companies are required by federal law to have a certain amount of liability insurance, an amount which varies depending on the size of the vehicle. Even trucks that operate only within state limits are required by state law to have a minimum amount of liability coverage in Florida.
Not only are trucking companies required to insure their vehicles, but they have to insure every driver they employ-and if they don’t have the coverage, the amount of fines they would face could be enough to put the company out of business. Still, some trucking companies run this risk, thinking that if they never get into an accident, no one will ever be the wiser.
How does this affect my truck accident case?
If the trucking company responsible for your injuries is put out of business, that doesn’t exactly help your immediate needs. However, there are a few options available:
- Underinsured Insurance. Standard Florida no-fault insurance may cover a large portion of your injuries. You may be able to recoup even more costs if you have underinsured motorist coverage. This policy kicks in when you are in an accident with someone who has insufficient insurance, or caused an accident that resulted in more damage to your vehicle than his (which is usually the case in truck accidents).
- Interpleader Coverage. If the trucking company’s insurance falls short, the company may pursue an interpleader lawsuit. This means that everyone involved in the accident will discuss how to “divvy up” the costs between their individual insurance agencies. Unfortunately, one truck may be in an accident with several smaller vehicles, leaving the trucking company only having to pay for itself.
- An Attorney. As experienced Tampa truck accident attorneys, we know that you shouldn’t have to pay for someone else’s mistakes. If you or someone you love was injured in a Florida semi accident, call Chalik & Chalik today at 888-476-4697 for a free consultation.