Beware and prepare.
Tractor-trailer insurance rates saw an uptick this year, brought on by a rise in truck crashes and massive settlements and judgements.
The worst possible rate surge could come from Washington, D.C. where U.S. Rep. Matt Cartwright, D-Penn., 8th District, is sponsoring a bill (H.R. 3781) to raise the minimum liability coverage on semis from $750,000 to $4.5 million, a 500 percent jump that would put even more upward pressure on premiums.
Cartwright, an attorney with a history of suing trucking companies, has come under fire from watchdog group Foundation for Accountability and Civic Trust for proposing a bill that they say will benefit his family’s law firm if signed into law.
