What is PIP, and Do You Actually Need It?

What is PIP, and Do You Actually Need It?

The wealth of information currently on the car insurance market has made shopping for car insurance more complex. Many drivers are unsure which policies are best for their individual situation, including their budget. Many car insurance companies are making more types of coverage available to customers. One of the key coverage types is Personal Injury Protection. In today’s climate, drivers have the ability to customize their car insurance policies to ensure that they receive the exact type of coverage they are looking for.

Insurers are starting to recommend that drivers add Personal Injury Protection to their car insurance policies. The coverage is also mandatory in some states. Personal Injury Protection car insurance covers your medical treatment if you suffer injuries due to being involved in a car accident. PIP also covers the necessary medical treatment if one of your passengers sustains injuries in the accident. PIP is considered an asset because you will receive medical coverage regardless of who is at fault for causing the accident. This article gives you some benefits of PIP coverage.

Key Benefits Personal Injury Protection Component of a Car Insurance Plan

  1. Medical Coverage

    Even if you have health insurance that covers your medical treatment if you are injured, PIP can add another layer of protection. There may be a situation when health insurance won’t cover your treatment, so it’s recommended that you look over your health insurance policy before adding PIP. Keep in mind, though, that PIP insurance has a policy limit. Some plans simply adhere to the state’s minimum requirements, while others vary based on the plan. You can add minimum PIP coverage if you have a strong health insurance plan. However, it’s recommended that you purchase more PIP coverage if you have a limited health insurance policy.

  2. Lost Wages

    Personal Injury Protection Car Insurance covers your lost wages if you are unable to work based on the injuries sustained in a car accident. There are a few variables to consider, though. Adding lost wages coverage will increase the cost of the policy. There’s also a cap based on the amount you will be reimbursed. If you already have a policy covering lost wages, adding this coverage to your PIP plan may not benefit you.

  3. Daily Tasks

    PIP will assist with the costs of hiring someone to complete everyday tasks that you aren’t able to do while injured. You may be reimbursed for hiring someone to take care of your children, buy food, complete household chores, and do other tasks you are unable to do at the moment.

  4. Funeral Costs

    Personal Injury Protection Car Insurance covers your loved ones as they plan your funeral in the unfortunate event that you pass away from the injuries sustained in a car accident. It’s recommended that you look over this option carefully to ensure that all of the funeral expenses are covered in the policy.

Read Frequently Asked Questions About Insurance At 01 Insurance

Consult With 01 Insurance

Personal Injury Protection is designed to provide a layer of comfort during an emergency situation. There are various risks associated with operating a vehicle, and accidents can happen at any moment. In this scenario, it’s best to have adequate auto insurance coverage. Contact our insurance experts at 01 Insurance. We can help you find the right coverages so that you will be protected in any situation.