Minimum Liability Insurance For Truckers to Increase?
The U.S. House of Representatives recently introduced a bill that would increase the required minimum levels of liability insurance for federal motor carriers, i.e. trucking companies, to a minimum of $ 4,420,000. The minimum required liability insurance has been $ 750,000 for over 30 years. It is high time for a realistic increased minimum financial responsibility to be imposed. After all, imagine the extent to which medical expenses have increased over the last thirty years. And the cost of living has also been ever increasing. When people are injured today by negligent truckers, their economic losses far exceed those of victims 30 years ago. This doesn’t even begin to consider the intangible losses, such as pain, suffering, disfigurement, scarring, etc. Call your Congressmen and urge them to vote for this bill. Personal and corporate accountability are the lynchpins of freedom. Financial responsibility makes accountability a reality.
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