Oregon Laws on Insurance for Semi Trucks
The state of Oregon classifies commercial vehicles as any vehicle that has a gross weight of 26,001 lbs. or more, carries 16 or more passengers or carries hazardous materials. Without a load, the weight of the average semi-truck wavers right around the 26,001-lb. limit. As a result, most Oregon semi-trucks are required to meet the commercial requirements for auto insurance.
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Less Than 26,001
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If your semi-truck weighs less than 26,001 lbs. with a full load, you are required to meet the same minimum liability requirements as private passenger vehicle owners. Oregon requires its drivers to carry bodily injury and property damage limits of at least $25,000 per person and $50,000 per accident with $10,000 in property damage, or 25/50/10. The state also requires drivers to carry uninsured motorist coverage of at least 25/50 with a minimum of $15,000 in personal injury protection. This package combination insures other drivers if you cause their injuries or damages during an accident. The combination also insures your injuries and damages if you are struck by someone with no coverage and provides additional injury protection for you and your passengers, regardless of who is at fault for the accident.
More Than 26,001
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Semi-trucks that weigh more than 26,001 lbs. when carrying a full load are required to meet Oregon's commercial insurance requirements. To meet the requirements, semi-truck owners must self-insure with the Oregon Department of Motor Vehicles or provide proof of a surety bond. This certified financial liability must be in the amount of at least $750,000 per accident.
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Proof
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The Oregon Department of Motor Vehicles conducts random insurance verifications. Drivers who are selected for the random verification process are issued a letter. The letter requests the driver to send in proof of his financial responsibility, such as a copy of the insurance card or surety bond certificate. Drivers who fail to provide the requested information by the identified deadline are deemed non-compliant and their license privileges are suspended. Along with random verification, semi-truck and private passenger drivers are required to show proof of financial responsibility, or insurance, immediately after an accident, after some traffic violations and upon a court's request.
Noncomplaince
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Semi-truck drivers who fail to comply with Oregon's financial responsibility requirements are subject to the same consequences as private passenger drivers. These consequences include penalties and fines, license suspension, vehicle impound, reinstatement fees and potential jail time.
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References
- Photo Credit semi truck image by max blain from Fotolia.com
