An article posted by Stark & Stark Attorneys at Law reminds us of the increase of highway congestion during this time of year. Not only are there thousands of families driving hundreds of miles to Grandma’s house, trucks and trailers are sharing the roadway with them.
Recently, the number of accidents involving trucks has been on the rise, so driving safely is imperative during one of the busiest, and most dangerous, traveling times of the year.
The article reports on recent data which suggests an increase in difficulty for truckers to attain liability insurance to cover their trucking fleets. In addition, the Department of Transportation reports that while there has been a 20% decrease in fatal accidents with large trucks over the past 10 years, the number of accidents went up last year.
Not only has the number of accidents increased, Stark & Stark notes “the number of large verdicts where juries award tens of millions of dollars or more to families of truck accident victims” has also grown over the last few years.
Insurance companies have responded by increasing premiums for trucking companies from 10% to 30%. While federal law calls for trucking companies to cover their drivers up to $750,000 per accident, many trucking companies insure $1 million and purchase additional external tiers to protect against extra risks or costs.
To read more about large verdicts in truck accident cases, see the Stark & Stark article.
This holiday season, the FJA reminds you to stay safe while driving by staying focused and reducing distractions on the road.