Truck accidents tend to have severe consequences, resulting in severe injuries, extensive property damage, and significant financial burdens. If you find yourself involved in such an unfortunate event, understanding insurance coverage and limits is crucial to maximizing your recovery.
This guide will take you through the essential aspects of insurance coverage and how a truck accident lawyer in Hollywood can help ensure you receive the compensation you deserve.
Understanding Truck Accident Insurance Coverage
Truck accidents differ significantly from typical car accidents due to size and weight of commercial trucks. Consequently, the insurance coverage involved is more complex and often involves higher limits. Here’s a breakdown of the key insurance coverages that come into play in truck accident claims:
- Liability Insurance: This is the primary insurance for covering driver negligence. It includes property damage coverage. According to the (FMCSA), commercial trucks must carry a minimum of $750,000 in liability insurance. In cases involving hazardous materials, this minimum can increase to $5 million.
- Cargo Insurance: This coverage protects the goods being transported by the truck. While it doesn’t directly impact personal injury claims, understanding its scope can be important in cases where the cargo causes additional damage or injury.
- Uninsured Motorist Coverage: The specific coverage is essential when the at-fault party’s insurance is insufficient to cover all damages. It ensures that you are not left uncompensated if the truck driver’s insurance falls short.
- Personal Injury Protection (PIP): PIP covers loss wages of who is at fault. This coverage can be a crucial lifeline in the immediate aftermath of an accident.
Determining Insurance Limits
Insurance limits tend to significantly impact the amount of compensation you receive. Trucking companies often carry higher insurance limits than individual drivers due to the potential for greater damage and liability.
It’s important to note that multiple parties might be considered guilty in a truck accident, including the driver, trucking company, and potentially the manufacturer of the truck or its parts. Each party may have separate insurance policies with varying limits.
Strategies to Maximize Your Recovery
- Hire an Experienced Lawyer: Navigating the complexities of truck accident claims requires legal knowledge. A truck accident lawyer in Hollywood can negotiate to get you a higher settlement.
- Thoroughly Document the Accident: Collecting evidence is crucial. This includes obtaining witness statements, taking pictures, and keeping detailed records of medical treatments and expenses. Strong evidence supports your claim and can lead to higher compensation.
- Understand State-Specific Laws: Insurance regulations and liability laws vary by state. A knowledgeable Hollywood car accident lawyer will study the specific laws applicable to your case and ensure all legal requirements are met.
- Explore All Avenues for Compensation: In addition to insurance claims, consider other potential sources of compensation, such as personal injury lawsuits against negligent parties or claims against the manufacturer for defective parts. Exploring all avenues can significantly increase your total recovery.
- Be Aware of Policy Exclusions: Insurance policies often have exclusions that limit coverage. Understanding these exclusions can help you avoid unexpected denials and ensure you receive the full benefits of your policy.
Contact Our Truck Accident Lawyer in Hollywood
Truck accidents can be overwhelming, but understanding insurance coverage and limits is vital to ensuring you receive the compensation you deserve. By hiring an experienced lawyer, documenting the accident thoroughly, and exploring all potential sources of compensation, you can maximize your recovery.
If you have been involved in a truck accident, don’t go through this complex process alone. Contact Barzakay Law, your trusted Hollywood car accident lawyer, to guide you through the process. Visit barzakaylaw.com today for a free consultation.