The Minefield of Personal Injury Protection Coverage
No matter how careful you are, accidents can and will happen. So if you can’t entirely avoid them, the next best thing you can do is ensure you have adequate protection, just in case. That’s basically what your PIP, or personal injury protection, insurance coverage is for.
PIP is also known as a no-fault insurance . That’s because regardless of whether you or the other party is at fault, you can expect the insurance company to help you cover your bills, explains the DMV. Hence, the no-fault tag.
Your PIP coverage should cover the cost of the following:
*Medical. The insurance company would help shoulder your hospitalization, treatment and rehabilitation expenses
*Lost wages. Any wages you lost by being unable to go to work are also covered
*Death. Your family is entitled to compensation in case you pass away as a result of the accident.
*Not enough. No-fault states require PIP. However, the state limit might not be enough to cover the costs in case of an accident. So you should really consider the level of protection you need and adjust your insurance premiums to fit that.
*Bad features. Not all insurance policies are created equal so make sure you check and compare quotes before you choose.
*Limited window. You need to file for a claim right away. In Florida, for instance, you can only recover expenses if you receive medical treatment within 14 days after the accident. Go beyond that and you lose your chance.
*Emergency status. If it turns out that your situation isn’t deemed as a medical emergency, you probably won’t be able to file for as big a claim as you may have initially hoped for.
Lastly, things could get complicated with PIP coverage if you don’t know enough about how it works. You’ll need help. Consider hiring a PIP lawyer who will help you cover all your bases.