Personal Injury Protection (PIP) is an insurance coverage that covers any person's medical related costs that is in your automobile at the time that an accident occurs. The purpose of Personal Injury Protection (PIP) is that it pays for medical bills without the need for determining who was at fault in the accident. It is also not necessary that the deductible be paid prior to any medical bills being paid by the insurance company.
There are some states that will allow auto insurance policy holders to decline Personal Injury Protection (PIP) coverage. There are also some states that require that the coverage be selected regardless of the circumstances. Normally in states that allow you to decline coverage, the policy holder will be required to sign a waiver, confirming that they are aware of the risks of not carrying the Personal Injury Protection (PIP) coverage. There are some states without the waiver requirement. To be sure, it is best to check the requirements in your state of residence.
There are also limits and other restrictions involved in Personal Injury Protection (PIP). The limits are selected when one chooses auto insurance coverage. These limits are outlined in the declarations page of the auto insurance policy. As for the restrictions, many times there are time limits placed upon the coverage of medical bills. Most of them limit this time to one year from the date of the accident.
If allowed by law, some people opt not to have Personal Injury Protection (PIP) coverage. However, this is not suggested. Some insurance companies offer coverage as small as $5,000 for Personal Injury Protection (PIP). Nevertheless, it is best to have a minimum of $10,000 of Personal Injury Protection (PIP).
Though there are instances when Personal Injury Protection (PIP) gets lost in the auto insurance lingo, this is coverage that is very much worth the cost. It allows those that need to be treated to be covered, and lessens the fear that the driver may be sued.
Source:
Glendenning, Anna, "Personal Injury Protection (PIP)", Families.com
If allowed by law, some people opt not to have Personal Injury Protection (PIP) coverage. However, this is not suggested. Some insurance companies offer coverage as small as $5,000 for Personal Injury Protection (PIP). Nevertheless, it is best to have a minimum of $10,000 of Personal Injury Protection (PIP).
Though there are instances when Personal Injury Protection (PIP) gets lost in the auto insurance lingo, this is coverage that is very much worth the cost. It allows those that need to be treated to be covered, and lessens the fear that the driver may be sued.
Source:
Glendenning, Anna, "Personal Injury Protection (PIP)", Families.com
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