Lawmakers attempt to increase minimum insurance requirements

July 29, 2019

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LLN (7/29/19) –
Lawmakers have sent a bill to Congress aimed to increase minimum insurance requirements to many times their current level. Also, a Michigan lawmaker explains how she arrived at her proposal to end the split speed limit there. The Federal Highway Administration has scheduled several truck parking workshops. We’ll explain why the difference between the stated value of your truck and its actual value is important. And before you even think about a lease-purchase deal, you need to research specific aspects of the carrier; we’ll explain.

0:00-9:56 – Newscast

9:56 -24:39 – Ending Michigan’s split speed limit; parking workshops

24:39-39:35 – Actual value vs. stated value; lease-purchase

39:35-49:35 – Effort to increase insurance requirements

Segment 1

Newscast

Segment 2

Michigan has a proposal on the table to end the split speed limit in that state. Mark Reddig talks with the woman behind that effort, State Representative Sarah Lightner.

The Federal Highway Administration has scheduled several truck parking workshops. Mark Reddig will get the details.

  • If you’re interested in attending the Reno, Nev., meeting Sept. 17 contact:

Bill Thompson
Freight Program Manager
Freight Planning Section
Nevada Department of Transportation
Telephone: (775) 888-7354

bthompson@dot.nv.gov

Segment 3

There is a significant difference between the stated value of your truck vs. its actual value. Terry Scruton finds out why that difference is important from Trina McIntyre and Stacey Sanders of OOIDA’s Truck Insurance Department.

Before you even think about a lease-purchase deal, you need to research specific aspects of the carrier – including turnover. Mark Reddig gets some advice from Adam Kleinschmidt of OOIDA’s Business Assistance Department.

Segment 4

A bill that would increase truckers’ minimum insurance requirements more than 550% their current level is now before Congress. Mark Reddig finds out what you need to know from OOIDA Manager of Government Affairs Mike Matousek.