Trouble ahead for small carriers.

With the proliferation of lawyers advertising in the media, saying they can get large settlements from BIG truck accidents, it no wonder.
Used to be, the amount of a settlement was based on the amount of earnings a family could have expected from a person's lifelong employment. On average, that would be in the $1-2 million dollar range, for the avearge JOE. Maybe another million for pain and suffering.
Now, these lawyers, who work by collecting a percentage of the settlements, are tryingto get 10-20X a persons perceived earnings and are convincing jurys to go along.

 

Its called GREED. Nothing more nothing less.

 

I've been holding my breath in anticipation of what my rate is going to be in 2017. This, my first year of operation, was reasonable on my premium. However, after reading this story, who knows.

 

This is why I run a dash cam. It's a pain in the ### sometimes because I wipe the memory daily but I think it's worth it.

 

Got a 4 camera system on my truck 2 forward 2 rear facing. Saved my butt when this lady ran into my trailer. Pulled the cards showed the cops/insurance. She got the ticket I got a settlement. Cameras don't lie........

 

Where do you put the rear cameras?

 

I just read that article, and can you blame insurance companies for doing that when you have all these mega carriers putting rookies into trucks with barely enough training to piss, nevermind drive.

 

Insurance companies are just covering their payments. I blame the lawyers advertising these cheap and easy pay days

 

I got a letter last year from my insurance company. It was required by law if rates were to rise more then 25%. My rate did not go up but I was told that with newer trucks a simple accident requires many expensive molded parts to replace.

I think the days of one truck operations and small fleets are on their way out for many reasons.