Motor carriers in the United States must prove they meet minimum levels of financial responsibility in case their vehicles are involved in accidents that cause injuries and damage. Showing such proof involves completing and submitting Form MCS-90. What is an MCS-90 endorsement? You may be asking this question because you’ve recently been injured in a truck wreck.
This article explores what an MCS-90 endorsement is, how it may impact your truck accident case, and how our Indiana truck accident attorneys can help you seek the compensation you deserve for your crash-related losses.
What You Should Know About an MCS-90 If You Were Injured in a Truck Accident
According to federal law 49 CFR § 387.7, motor carriers in the United States must provide certain minimum levels of financial responsibility in case of an accident. A motor carrier may fulfill its financial responsibility under this law by:
- Self-insuring, if the motor carrier has the financial means to do so
- Providing a surety bond, in which a third party guarantees payment of any relevant debts the motor carrier may incur
- Purchasing insurance
An MCS-90 endorsement is not an additional form of insurance. Instead, it is a federally required endorsement attached to the insurance policy indicating to the public that there will be funds to pay for damage the motor carrier causes.
An MCS-90 endorsement obligates the insurer to pay any financial judgment resulting from the insured’s negligent operation, maintenance, or use of motor vehicles, even if the vehicle is not identified or covered in the insurance policy. In other words, the MCS-90 endorsement mandates insurance coverage where there otherwise would be none. It obligates the insurer to pay injured parties in most circumstances regardless of issues arising under the policy.
Federally Mandated Minimums Levels of Responsibility Under the Federal Motor Carrier Act of 1980
Federal law 49 CFR § 387.9 establishes the following minimum levels of financial responsibility for motor carriers:
- For-hire motor carriers transporting nonhazardous property – $750,000
- For-hire and private motor carriers in interstate, foreign, or intrastate commerce transporting hazardous substances – $5 million
- For-hire and private motor carriers in interstate, foreign, or bulk intrastate commerce transporting oil, hazardous materials, hazardous waste, and hazardous substances – $1 million
- For-hire and private motor carriers in interstate and foreign commerce transporting certain bulk or hazardous materials – $5 million
It is a motor carrier’s responsibility to understand the minimum coverage it needs based on the types of materials it transports.
Get Help from Our Indiana Truck Accident Lawyers
Were you injured in an Indiana truck accident? If so, you could be entitled to seek compensation for your medical bills, lost wages, pain, suffering, and other crash-related losses. An experienced truck accident lawyer from the law firm of Craig, Kelley and Faultless LLC can review the details of your case and determine who is liable for your injuries. We are ready to stand up to the trucking companies and insurers to demand fair and full compensation.
Don’t try to navigate the legal system alone. Contact our office today for a free initial case evaluation with one of our Indiana truck accident lawyers.