What’s Personal Injury Protection Car Insurance?
Are you one of the millions of Americans who do not have health insurance? So, What’s Personal Injury Protection (PIP) insurance?. PIP is a type of automobile insurance that covers your medical expenses if you are injured in a car accident, regardless of who is at fault. It can also provide compensation for lost wages and other damages. Most states require drivers to carry PIP coverage, and some states even require it for pedestrians and bicyclists. So, if you don’t have health insurance, be sure to get PIP coverage. It could save you a lot of money in the long run. Now let’s follow PowerPAC plus to learn more useful information!!!
What is personal injury protection insurance (PIP)
What’s Personal Injury Protection insurance? PIP is a type of insurance that helps pay for covered medical expenditures incurred as a result of a car misadventure. PIP can be used whether or not you are at fault in an accident. It can also be extended to certain members of your family who reside with you.
Some states require you to have PIP coverage on your auto insurance policy. This coverage is also known as no-fault insurance. There are specific items covered by personal injury protection if you’re in a car accident, even if you’re not driving. You may be insured for the following things depending on where you live:
- Medical bills for you and those insured under your policy (which also includes coverage if you’re hit by a car while walking or riding a bike)
- If you or your passengers are injured and unable to work, you will be compensated for your lost pay.
- Childcare, housecleaning, and yard work are examples of household services.
- Costs of disability and rehabilitation
- If you die in a car casualty, your family will receive a death benefit.
The benefits of having a PIP policy
One of the most aggravating aspects of an automobile accident can be the time it takes for insurance companies to determine fault, make compensation, and, if necessary, launch a lawsuit. There is no need to assign fault when you have PIP coverage. If the occurrence is covered, you will receive medical and lost-income benefits as soon as possible, and you will only have to deal with your insurance company.
How much does PIP cover?
Do you know What’s Personal Injury Protection and how much PIP coverage costs per month/year? If not, you’re not alone. Many people don’t know about PIP or what it covers. That’s why we’re here to break it down for you. In this part, we’ll tell you how much it costs and what it covers. We’ll also give you some tips on how to find the best deal on PIP coverage. Here are some example:
- Loss of services
PIP coverage compensates non-family members up to $200 per week ($5,000 total) for work you can’t do, such as housework. The overall payout can be increased to $14,600 by adding additional loss of services coverage.
- Funeral expenses
PIP covers up to $2,000 per person who died as a result of the accident.
- Medical and hospital expenses
PIP pays up to $10,000 for each individual injured in an auto accident for reasonable and necessary medical and hospital expenses. This is available for a period of up to three years after the accident. Additional coverage can be purchased for up to $35,000 in medical and hospital expenses.
- Wage loss
PIP provides income replacement coverage of up to $200 per week ($10,000 total). This is limited to one year once a person has been handicapped for 14 days in a row following an accident. Consumers can purchase supplemental coverage for up to $35,000 in income benefits, paid at a weekly rate of $700.
Should I have PIP Insurance?
What’s PIP insurance and why should we have it?
Yes, you should carry PIP insurance if you live in a state where it is required. But what if you live in a state where PIP coverage isn’t required? Then, before making a decision, consider the following factors:
- How robust is your car insurance?
PIP insurance is intended to supplement your automobile insurance and protect you and your passengers in the case of an accident. PIP may be unnecessary if you currently have a large insurance policy with plenty of injury liability coverage.
- What kind of health insurance do you have?
If you don’t have PIP coverage, your health insurance may cover any injuries you sustain in a car accident. Depending on the details of your health insurance policy, this may or may not be something you desire.
- How often do you travel with passengers?
Following an accident, PIP insurance will cover all of the individuals in your car. If you don’t have it, passengers may be able to hold you liable for their injuries if you’re in a car accident.
- What’s your risk tolerance?
This is the most important question in any insurance discussion. While you hope to never be involved in an automobile accident, the reality is that they do occur, and they may be costly. There’s also no guarantee that the other driver (if they’re at fault) will have enough insurance to cover your losses. PIP coverage can be highly valuable in such instances.
How do you file a PIP claim?
You file a claim in the same way you would for any other sort of insurance, either online or over the phone. PIP will assist in the payment of emergency medical expenditures incurred as a result of the accident. However, you’ll be forced to evaluate or pre-approve your treatment plan with a medical expert chosen by your insurer or an outsourced medical claims processor for ongoing, non-urgent claims.
Your car insurance company may also allow partial reimbursements or have you examined by a doctor of their choosing. The amount covered by your policy varies depending on your plan and state. In Florida, for example, PIP coverage will only cover 80% of your medical expenses.
It’s vital that you stick to your auto insurance company’s procedures and timelines. In New Jersey, for example, any medical treatment or care given during the first 10 days after an accident must be approved and certified by your insurance company. Whether or not the treatment or diagnostic test was medically necessary or reasonably required, failure to deliver the requisite “Attending Provider Treatment Plan” and related documentation can result in a co-payment penalty of up to 50%.
To be eligible for payment in New York, all medical invoices must be presented within 45 days of treatment; otherwise, written justifications must be provided. If you’re injured, ask your insurance agent about their PIP claim process criteria and keep a copy on hand.
If you’re injured in an accident, personal injury protection insurance can help cover your medical expenses. PIP insurance is a required coverage in some states, and it’s important to know what it covers so you can make the best decisions for your health and finances. Contact an experienced personal injury lawyer if you have any questions about PIP or other types of insurance coverage.