What does 49 CFR 387.33T (Financial responsibility, minimum levels) require?

Short answer

49 CFR 387.33T requires for-hire motor carriers of passengers to have minimum financial responsibility levels of $5,000,000 for vehicles with a seating capacity of 16 passengers or more and $1,500,000 for vehicles with a seating capacity of 15 passengers or less.

The rule says

"Any vehicle with a seating capacity of 16 passengers or more, including the driver $5,000,000" (49 CFR 387.33T)

"Any vehicle with a seating capacity of 15 passengers or less, including the driver 1,500,000" (49 CFR 387.33T)

In plain English

This rule sets the minimum insurance requirements for passenger-carrying motor carriers. The amount of insurance required depends on the number of passengers the vehicle can seat. Carriers with larger vehicles need more insurance to cover potential damages or injuries.

What to do

• Verify your vehicle's seating capacity to determine the required minimum financial responsibility level.
• Obtain and maintain the required level of insurance coverage.
• Ensure that your insurance policy remains in effect continuously until terminated, with at least 35 days' notice for cancellation.
• Maintain proof of financial responsibility at your principal place of business.