Commonly called PIP for short, personal injury protection insurance protects you against—you guessed it—personal injury. If you get in an accident, no matter who is at fault, PIP will cover the costs of your medical bills, as well as those of your passengers.
You might choose PIP insurance if….
- You know medical bills can be higher than the Eiffel Tower, and you’d rather not pay, si vous plait.
- You don’t have a great health insurance plan. Often, having great health insurance renders PIP/medical coverage far less useful. If in doubt, check with your healthcare provider.
What does PIP insurance cover?
Personal injury protection is a “no-fault” coverage, meaning that even if you are determined to be at-fault in an accident, medical expenses (such as medical and surgical treatment, ambulance fees, and medication) for you and your passengers will be covered up to the policy’s limit. PIP can also be used to recover lost wages and rehabilitation services.
How much does PIP insurance cover?
Typically PIP will provide anywhere from $1500 to $250,000 in personal injury coverage depending on the insurer. PIP coverage benefits will vary depending on which state you reside in. For instance, in Florida, PIP insurance will typically cover 80% of medical bills and 60% of lost wages, up to $10,000.
Is PIP insurance mandatory?
Currently 15 states require some level of personal injury protection coverage: Arkansas, Delaware, Florida, Hawaii, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Dakota, Oregon, Pennsylvania, and Utah.
How much does PIP cost?
The cost of PIP insurance varies widely depending on a number of factors such as age, vehicle, and location. See quotes from hundreds of carriers in seconds at TheZebra.com.