What Is Personal Injury Protection (PIP)?
Personal injury protection (PIP), also referred to as “no-fault insurance,” maybe a component of a car insurance plan that covers the healthcare expenses related to a car accident. PIP covers medical expenses for both injured policyholders and passengers, albeit some don’t have insurance.
If the value of necessary medical aid exceeds the auto insurance policy’s PIP limits, insurance sometimes covers further expenses. Policies have a per-person maximum, meaning that coverage is restricted to a particular amount per person if multiple people are injured in an accident.
Personal injury protection (PIP) covers the healthcare costs associated with injuries sustained in an automobile accident.
PIP covers both the policyholders and their passengers, no matter whether or not they have insurance.
PIP policies have a minimum coverage amount and a per-person maximum coverage limit.
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Understanding Personal Injury Protection (PIP)
Auto insurance requirements and features differ from state to state, and PIP coverage is out there primarily in no-fault states. during a no-fault state, if a policyholder is injured during a car crash, that person’s policy pays for the holder’s medical aid no matter who caused the accident. Policyholders with PIP coverage can receive benefits albeit the opposite driver doesn’t have insurance.
PIP coverage, additionally to creating medical aid affordable, often provides payments for lost income, child care, and funeral expenses associated with the accident. Some no-fault states offer medical payments coverage, but it typically has low limits and doesn’t buy these other costs.
What States Require Personal Injury Protection (PIP)?
PIP auto insurance is required in Florida, Hawaii, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Dakota, Pennsylvania, Utah, and Puerto Rico. it’s a compulsory add-on to auto insurance in Arkansas, Delaware, Maryland, Oregon, and Texas and an optional add-on in New Hampshire, South Dakota, Virginia, Washington, Wisconsin, and Washington, D.C. That’s a grand total of twenty-two states, one territory, and one federal city.1
Minimum coverage requirements are set by the above entities’ governments and may vary. Maximums are set by insurance companies and may also vary, but they’re usually no quite $25,000.
Do I want Personal Injury Protection (PIP)?
If you reside in a state that needs PIP, then yes, you would like to possess PIP coverage. The question then becomes what proportion you ought to get. If your insurance provides coverage for injuries and rehabilitation associated with a car accident, you’ll only get to purchase the minimum amount of PIP required by your state. Similarly, if PIP coverage is optional in your state, you’ll be wanting to ascertain m at your insurance to see how it covers expenses associated with car crashes, also as your deductible and out of pocket maximums, to assist you to opt.
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Personal Injury Protection (PIP) vs. insurance
PIP isn’t a substitute for insurance, which is required by every state (plus Puerto Rico and Washington, D.C.), apart from New Hampshire and Virginia.2 insurance pays for injuries caused to a different party, like a pedestrian or the driving force and occupants of another vehicle. There’s also professional liability insurance; such policies are generally taken out by financial advisors, business owners, landlords, doctors, lawyers—anyone in danger of being sued for damages and/or injuries.