Raise Trucking Insurance Minimums to Raise Safety

Abstract

The rate of truck crashes and fatalities has more than doubled over the last 10 years. The minimum levels of insurance were set in 1980, have not changed in 41 years, and are now completely inadequate. Trucking insurance is decreasing in cost and makes up only around 4% of operating costs. Raising insurance minimums will not only better compensate crash victims but also allow insurance to function properly and provide an economic incentive for companies to operate safely.