First of all, thank you for your service! It sounds like you have outstanding health insurance for yourself, and potentially your family as well. It may not be necessary in your current situation to carry PIP, but here are a few reasons why it may make sense to add it to your policy:
- Your health coverage has a high deductible - PIP coverage on Texas auto policies does not have a deductible so, if you are injured in an accident that is your fault, this coverage kicks in immediately.
- You drive frequently with passengers not covered by your health insurance - Even if you have outstanding health insurance for you and your family, that coverage does not extend to any of your passengers who aren't covered by your health plan. If you happen to be at-fault in an accident, PIP will cover injuries suffered by you and anyone in your vehicle, up to the limit that you select, regardless of fault.
- You might have to miss work - I know you said that you are retired military, however, PIP covers lost wages in addition to injuries for you and your passengers.
Since PIP is not required by the state of Texas, it is completely optional on your policy. While it may not make sense for everyone to have it, PIP can be quite beneficial when you need it the most. Best of luck!