Oppose Increases to Minimum Insurance Levels!

Oppose Increases to Minimum Insurance Levels!

Oppose H.R. 6884, the Fair Compensation for Truck Crash Victims Act. Tell your lawmakers that raising your insurance requirements is wholly unnecessary, would do nothing to improve highway safety, and would have a severe negative impact by significantly increasing your operational costs.

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FAST FACTS ABOUT H.R. 6884

• Rep. Jesus “Chuy” Garcia, D-Ill., has introduced the Fair Compensation for Truck Crash Victims Act, a bill that would increase the minimum liability insurance for trucking companies from $750,000 to $5 million – a 566% surge.
• The average crash costs only $18,000 in damages.
• Motor carriers already carry $1 million in insurance.
• Today’s minimum insurance requirements cover damages in more than 99% of crashes involving commercial motor vehicles (CMVs).

We believe increasing insurance minimums could actually decrease road safety by forcing small motor carriers, who collectively have the best safety records, out of business. For carriers that are able to hang on, dramatically increasing their costs means they will have less resources to cover important safety measures, such as equipment maintenance and upgrades.

WHY SHOULD YOU CARE?

• Any increase has been proven unnecessary, will do nothing to improve highway safety and would undoubtedly kill many small trucking businesses through skyrocketing premium costs.
• There is no research that demonstrates increasing minimum insurance levels would improve road safety. None.