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How much insurance must business vehicles carry?

People in Cary, North Carolina, and the surrounding Raleigh metro area will probably know that, if they want to drive a car, they have to carry a minimum amount of insurance that will cover all or part of another person's injuries. The minimum insurance requirement protects North Carolina citizens from negligent motorists by making sure that all drivers have some means of paying compensation should they cause an accident.

Unfortunately, these minimum limits are rarely enough to actually cover all losses in the event of a serious accident. Usually, a victim is left having to pursue the negligent driver directly or may be able to recover from his or her own insurance company if he or she purchased uninsured or underinsured motorist coverage.

It may come as a surprise to people that commercial vehicles, including large dump trucks, delivery trucks, vans, and others are, generally speaking, subject to the exact same minimum limits as are North Carolina residents who use their private vehicles only for personal reasons.

There are some exceptions to this general rule. One of the most common exceptions is that haulers of certain types of materials and just about any commercial vehicle that transports goods across state lines will effectively need at least $750,000 in coverage, if not more. The federal government requires the extra coverage as a condition for receiving permission to transport materials subject to the regulation of the federal government.

After getting over the immediate aftermath of a commercial vehicle accident, a victim who needs to receive compensation for lost income and medical expenses should be made aware of the type and amount of insurance that the responsible commercial driver carries. The information could impact the victim's overall case strategy.

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