- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
commercial auto minimum limits
Posted on 2/1/17 at 4:15 pm
Posted on 2/1/17 at 4:15 pm
a family member was in an unfortunate accident with a commercial vehicle. As of now the driver and company is not cooperating with their insurance. I know what the state minimum's are for a private vehicle, but does anyone know what are the state minimums for a commercial vehicle policy?
6
Posted on 2/1/17 at 4:30 pm to lsuCJ5
i get a vehicle allowance to use my vehicle for work, but i am required to carry 100/300/100 not sure if company policy of state...
Posted on 2/1/17 at 4:31 pm to lsuCJ5
Don't know state minimums but $1,000,000 limits are pretty standard on commercial policies. They should get an attorney.
Posted on 2/1/17 at 4:38 pm to Jon Ham
quote:
Don't know state minimums but $1,000,000 limits are pretty standard on commercial policies. They should get an attorney.
This. It's standard written practice in the industry for 1 mil, though I have had some clients that absolutely refuse to have that high a limit for the couple dollars a month in savings.
Posted on 2/1/17 at 4:38 pm to lsuCJ5
I am not a lawyer...but would assume that min limits are the same regardless of the vehicle being commercial or not, with that being said I feel it would be stupid for any company to have a car without pretty big limits, and if the company is worth anything an excess judgement would be likely
Posted on 2/1/17 at 5:15 pm to BamaCoaster
quote:
This. It's standard written practice in the industry for 1 mil, though I have had some clients that absolutely refuse to have that high a limit for the couple dollars a month in savings.
Unless it's something really egregiously stupid (like a true ot baller type only carrying 15/30 insurance and they have a client with really bad injuries) most lawyers won't go after INDIVIDUALS for excess of their policy limits. I can assure you, though, businesses will ALWAYS be seen as much more than fair game in EVERY scenario.
Posted on 2/1/17 at 7:25 pm to BamaCoaster
quote:
It's standard written practice in the industry for 1 mil,
Can you send me the written practice book?
Posted on 2/2/17 at 7:15 am to lsuCJ5
My company carries a $1 million auto policy but we also back that up with a $15 million umbrella policy. I handle the DOT for my company and to my knowledge there is no set amount for CMV's, but most of the large trucking companies carry a substantial amount in policy limits. It sounds like it might have been hit by an independent truck (dare I say logging truck).
Posted on 2/2/17 at 7:16 am to Chad504boy
everyone is saying minimums suggested is 1,000,000 but I know that is not required. I just cant find anywhere what is the state law for commercial limits.
Posted on 2/2/17 at 9:42 am to lsuCJ5
there's not a state requirement. for a larger company, it's most likely 1 mill. if it's a mom and pop, it could be anything
Posted on 2/2/17 at 11:06 am to specchaser
quote:
there's not a state requirement. for a larger company, it's most likely 1 mill. if it's a mom and pop, it could be anything
so your saying a commercial vehicle can have 15/30/25.....I don't buy that.
Posted on 2/2/17 at 12:35 pm to lsuCJ5
quote:
so your saying a commercial vehicle can have 15/30/25.....I don't buy that.
I think he is absolutely right, the state has minimums...regardless of who owns the vehicle. as previously said it would be stupid and they would be setting themselves up for an excess judgement
Posted on 2/2/17 at 3:52 pm to lsuCJ5
Commercial vehicle minimum limits are the same as your personal auto limits in the state of Louisiana. Other states may have other laws. So it is possible that the company may only carry 15/30/25
Posted on 2/2/17 at 6:01 pm to Cuzzin
Unless they have a federal haul for hire filing. Isn't that still $750K?
Posted on 2/2/17 at 9:14 pm to lsuCJ5
I have a commercial vehicle, I have a large policy (100/300/100) with an umbrella too, but all you are required to have is state minimums. Also, just because it's a company vehicle doesn't mean it's commercial.
Was it a private plate or commercial plate?
A lot of small companies don't even tell their insurance they are using the vehicle for business.
In any wreck with an injury or major damage i highly advice a personal injury attorney.
Was it a private plate or commercial plate?
A lot of small companies don't even tell their insurance they are using the vehicle for business.
In any wreck with an injury or major damage i highly advice a personal injury attorney.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News