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Law Blog


Are commercial trucks required to carry insurance?

April 19, 2013

 

 

We recently received a question through a web-user who asked if commercial trucking companies were required to carry collision [liability] insurance.  The answer is YES.  Like automobiles, trucks must also carry insurance.  The minimum insurance a commercial truck must carry is $750,000.  If the truck is authorized to carry HAZMAT (hazardous) materials, it must carry a minimum of $5,000,000 insurance.  Often, larger companies carry even more insurance in the tens of millions of dollars.  Below is a summary of what the law requires:

(1) For-hire (In interstate or foreign commerce, with a gross vehicle weight rating of 10,001 or more pounds) Property (nonhazardous) $750,000
(2) For-hire and Private (In interstate, foreign, or intrastate commerce, with a gross vehicle weight rating of 10,001 or more pounds) Hazardous substances, as defined in 49 CFR 171.8, transported in cargo tanks, portable tanks, or hopper-type vehicles with capacities in excess of 3,500 water gallons; or in bulk Division 1.1, 1.2 and 1.3 materials. Division 2.3, Hazard Zone A, or Division 6.1, Packing Group I, Hazard Zone A material; in bulk Division 2.1 or 2.2; or highway route controlled quantities of a Class 7 material, as defined in 49 CFR 173.403 5,000,000
 
(3) For-hire and Private (In interstate or foreign commerce, in any quantity; or in intrastate commerce, in bulk only; with a gross vehicle weight rating of 10,001 or more pounds) Oil listed in 49 CFR 172.101; hazardous waste, hazardous materials, and hazardous substances defined in 49 CFR 171.8 and listed in 49 CFR 172.101, but not mentioned in (2) above or (4) below 1,000,000
(4) For-hire and Private (In interstate or foreign commerce, with a gross vehicle weight rating of less than 10,001 pounds) Any quantity of Division 1.1, 1.2, or 1.3 material; any quantity of a Division 2.3, Hazard Zone A, or Division 6.1, Packing Group I, Hazard Zone A material; or highway route controlled quantities of a Class 7 material as defined in 49 CFR 173.403 5,000,000



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