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  • § 387.1
    Purpose and scope.
  • § 387.3
    Applicability.
  • § 387.5
    Definitions.
  • § 387.7
    Financial responsibility required.
  • § 387.9
    Financial responsibility, minimum levels.
  • § 387.11
    State authority and designation of agent.
  • § 387.13
    Fiduciaries.
  • § 387.15
    Forms.
  • § 387.17
    Violation and penalty.
  • § 387.19
    Electronic filing of surety bonds, trust fund agreements, certificates of insurance and cancellations.
  • § 387.25
    Purpose and scope.
  • § 387.27
    Applicability.
  • § 387.29
    Definitions.
  • § 387.31
    Financial responsibility required.
  • § 387.33
    Financial responsibility, minimum levels.
  • § 387.35
    State authority and designation of agent.
  • § 387.37
    Fiduciaries.
  • § 387.39
    Forms.
  • § 387.41
    Violation and penalty.
  • § 387.43
    Electronic filing of surety bonds, trust fund agreements, certificates of insurance and cancellations.
  • § 387.301
    Surety bond, certificate of insurance, or other securities.
  • § 387.303
    Security for the protection of the public: Minimum limits.
  • § 387.305
    Combination vehicles.
  • § 387.307
    Property broker surety bond or trust fund.
  • § 387.309
    Qualifications as a self-insurer and other securities or agreements.
  • § 387.311
    Bonds and certificates of insurance.
  • § 387.313
    Forms and procedures.
  • § 387.315
    Insurance and surety companies.
  • § 387.317
    Refusal to accept, or revocation by the FMCSA of surety bonds, etc.
  • § 387.319
    Fiduciaries.
  • § 387.321
    Operations in foreign commerce.
  • § 387.323
    Electronic filing of surety bonds, trust fund agreements, certificates of insurance and cancellations.
  • § 387.401
    Definitions.
  • § 387.403
    General requirements.
  • § 387.405
    Limits of liability.
  • § 387.407
    Surety bonds and certificates of insurance.
  • § 387.409
    Insurance and surety companies.
  • § 387.411
    Qualifications as a self-insurer and other securities or agreements.
  • § 387.413
    Forms and procedure.
  • § 387.415
    Acceptance and revocation by the FMCSA.
  • § 387.417
    Fiduciaries.
  • § 387.419
    Electronic filing of surety bonds, certificates of insurance and cancellations.

Part 387
MINIMUM LEVELS OF FINANCIAL RESPONSIBILITY FOR MOTOR CARRIERS

§ 387.303: Security for the protection of the public: Minimum limits.

Link to an amendment published at 78 FR 52651, Aug. 23, 2013.

(a) Definitions. (1) Primary security means public liability coverage provided by the insurance or surety company responsible for the first dollar of coverage.

(2) Excess security means public liability coverage above the primary security, or above any additional underlying security, up to and including the required minimum limits set forth in paragraph (b)(2) of this section.

(b)(1) Motor carriers subject to § 387.301(a)(1) are required to have security for the required minimum limits as follows:

(i) Small freight vehicles:

Kind of equipment Transportation provided Minimum
  • limits
  • Fleet including only vehicles under 10,001 pounds (4,536 kilograms) GVWR Property (non-hazardous) $300,000

    (ii) Passenger carriers.

    Passenger Carriers: Kind of Equipment
    Vehicle seating capacity Minimum
  • limits
  • (A) Any vehicle with a seating capacity of 16 passengers or more (including the driver) $5,000,000
    (B) Any vehicle designed or used to transport 15 passengers or less (including the driver) for compensation 1,500,000

    (2) Motor carriers subject to § 387.301(a)(2) are required to have security for the required minimum limits as follows:

    Kind of equipment Commodity transported Minimum
  • limits
  • (i) Freight vehicles of 10,001 pounds (4,536 kilograms) or more GVWR Property (non-hazardous) $750,000
    (ii) Freight vehicles of 10,001 (4,536 kilograms) pounds or more GVWR Hazardous substances, as defined in § 171.8 of this title, transported in cargo tanks, portable tanks, or hopper-type vehicles with capacities in excess of 3,500 water gallons, or in bulk explosives Division 1,1, 1.2 and 1.3 materials. Division 2.3, Hazard Zone A material; in bulk Division 2.1 or 2.2; or highway route controlled quantities of a Class 7 material, as defined in § 173.403 of this title 5,000,000
    (iii) Freight vehicles of 10,001 pounds (4,536 kilograms) or more GVWR Oil listed in § 172.101 of this title; hazardous waste, hazardous materials and hazardous substances defined in § 171.8 of this title and listed in § 172.101 of this title, but not mentioned in (b) above or (d) below 1,000,000
    (iv) Freight vehicles under 10,001 pounds (4,536 kilograms) GVWR Any quantity of Division 1.1, 1.2, or 1.3 material; any quantity of a Division 2.3, Hazard Zone A, or Division 6.1, Packing Group I, Hazard Zone A material; or highway route controlled quantities of Class 7 material as defined in § 173.455 of this title 5,000,000

    (3) Motor carriers subject to the minimum limits governed by this section, which are also subject to Department of Transportation limits requirements, are at no time required to have security for more than the required minimum limits established by the Secretary of Transportation in the applicable provisions of 49 CFR Part 387—Minimum Levels of Financial Responsibility for Motor Carriers.

    (4) Foreign motor carriers and foreign motor private carriers. Foreign motor carriers and foreign motor private carriers (Mexican), subject to the requirements of 49 U.S.C. 13902(c) and 49 CFR part 368 regarding obtaining certificates of registration from the FMCSA, must meet our minimum financial responsibility requirements by obtaining insurance coverage, in the required amounts, for periods of 24 hours or longer, from insurance or surety companies, that meet the requirements of 49 CFR 387.315. These carriers must have available for inspection, in each vehicle operating in the United States, copies of the following documents:

    (i) The certificate of registration;

    (ii) The required insurance endorsement (Form MCS-90); and

    (iii) An insurance identification card, binder, or other document issued by an authorized insurer which specifies both the effective date and the expiration date of the insurance coverage.

    Notwithstanding the provisions of § 387.301(a)(1), the filing of evidence of insurance is not required as a condition to the issuance of a certificate of registration. Further, the reference to continuous coverage at § 387.313(a)(6) and the reference to cancellation notice at § 387.313(d) are not applicable to these carriers.

    (c) Household goods motor carriers: Cargo liability. Security required to compensate individual shippers for loss or damage to property belonging to them and coming into the possession of household goods motor carriers in connection with their transportation service;

    (1) For loss of or damage to household goods carried on any one motor vehicle—$5,000,

    (2) For loss of or damage to or aggregate of losses or damages of or to household goods occurring at any one time and place—$10,000.

    Editorial Note:

    For Federal Register citations affecting § 387.303, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.fdsys.gov .

    Effective Date Note:

    At 78 FR 52651, Aug. 23, 2013, § 387.303 was amended by adding paragraph (b)(1)(iii), effective Oct. 23, 2015. For the convenience of the user, the added text is set forth as follows:

    (b) * * *

    (1) * * *

    (iii) Limits applicable to transit service providers. Notwithstanding the provisions of paragraph (b)(1)(ii) of this section, the minimum level of financial responsibility for a motor vehicle used to provide transportation services within a transit service area under an agreement with a Federal, State, or local government funded, in whole or in part, with a grant under 49 U.S.C. 5307, 5310 or 5311, including transportation designed and carried out to meet the special needs of elderly individuals and individuals with disabilities, will be the highest level required for any of the States in which it operates. This paragraph applies to transit service providers who operate in a transit service area located in more than one State, as well as transit service providers who operate in only one State but interline with other motor carriers that provide interstate transportation within or outside the transit service area. Transit service providers conducting such operations must register as for-hire passenger carriers under part 365, subpart A and part 390, subpart E of this subchapter, identify the State(s) in which they operate under the applicable grants, and certify on their registration documents that they have in effect financial responsibility levels in an amount equal to or greater than the highest level required by any of the States in which they are operating under a qualifying grant.

    Citation: [47 FR 55944, Dec. 14, 19822]

    Disclaimer:

    Although we make every effort to assure that the information we provide is complete and accurate, it is not intended to take the place of published agency regulations. Regulations issued by the U.S. Department of Transportation and its Operating Administrations are published in the Federal Register and compiled in the U.S. Code of Federal Regulations (CFR). Copies of appropriate volumes of the CFR in book format may be purchased from the Superintendent of Documents, U.S. Government Printing Office, or examined at many libraries.

    The CFR may also be viewed online at http://ECFR.gpoaccess.gov.


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