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Financial Requirements for Trucking Companies and Truck Drivers

The commercial trucking industry is one of the most dangerous industries in America. Trucks are heavy, difficult to maneuver, and obstructive of other drivers’ views.

Because of this, the Federal Motor Carrier Safety Administration (FMCSA) requires a minimum of financial responsibility for all trucking companies and drivers. This will protect truck operators and their potential victims in case of a Florida trucking accident.

Truck drivers and trucking companies must maintain proof of the required financial responsibility at their principal place of business. The proof should be of the minimum insurance requirements for public liability, which are set forth under sections 29 and 30 of the Motor Carrier Act of 1980.

In addition, all motor carriers of property who are domiciled in the United States must produce proof of the required minimum levels upon reasonable request by a member of the public. Failure to do so will result in non-compliance with FMCSA guidelines. These types of breaches of federal requirements may constitute negligence on behalf of the trucking company.

If you have recently been in a Florida truck accident, then you may be eligible for compensation in a personal injury claim. To learn what is required of commercial truckers regarding financial responsibility, you can visit our article library.

Trucking companies can be held liable for a truck accident in Central Florida if it can be proven that they were negligent in: the hiring of the truck’s driver; ensuring proper licensure; entrusting the truck driver with the truck; and/or maintenance or proper equipping of the truck. A lot can be at stake for the company if they are fault.

If you, or your loved one, have been injured in a truck accident in Central Florida, it would be in your best interest to contact an experienced Florida truck accident attorney who will protect your rights. Florida has a statute of limitations that may prohibit you from filing a lawsuit if too much time has passed. Call now to schedule a FREE evaluation of your case – 863-533-5525.