Personal Injury Protection (PIP) coverage is a type of auto insurance coverage that is designed to help cover medical expenses and lost wages in the event of an accident, regardless of who was at fault.
What Does PIP Coverage Include?
PIP coverage typically includes the following:
- Medical Expenses: PIP coverage can help pay for medical expenses, including hospital bills, doctor’s visits, and prescription medications.
- Lost Wages: If you are unable to work due to injuries sustained in an accident, PIP coverage can help replace lost wages.
- Funeral Expenses: In the event of a fatal accident, PIP coverage can help pay for funeral expenses.
- Rehabilitation Costs: If you require rehabilitation or physical therapy after an accident, PIP coverage can help cover these costs.
- Child Care Costs: If you have children and are unable to care for them due to injuries sustained in an accident, PIP coverage can help pay for child care expenses.
Is PIP Coverage Required?
PIP coverage is required in some states, including Florida, Hawaii, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Dakota, Oregon, Pennsylvania, and Utah. In these states, drivers are required to carry a minimum amount of PIP coverage as part of their auto insurance policy.
In other states, PIP coverage is not required, but it may be available as an optional add-on to your auto insurance policy.
How Much PIP Coverage Do You Need?
The amount of PIP coverage you need will depend on several factors, including your state’s minimum requirements, your personal assets, and your risk tolerance. In some states, the minimum PIP coverage required by law may be enough to cover your medical expenses and lost wages in the event of an accident. In other states, you may need to purchase additional coverage to ensure that you are fully protected.
It’s a good idea to consider purchasing PIP coverage that is equal to or greater than your liability coverage. This will ensure that you have enough coverage to protect your personal assets in the event of an accident.
Personal Injury Protection (PIP) coverage is an important type of auto insurance coverage that can help cover medical expenses and lost wages in the event of an accident. If you live in a state where PIP coverage is required, be sure to familiarize yourself with your state’s minimum requirements. Even if PIP coverage is not required in your state, it may still be a good idea to consider adding this coverage to your auto insurance policy to ensure that you are fully protected in the event of an accident. If you have any questions about PIP coverage, be sure to consult with an insurance professional who can help you make informed decisions about your coverage needs.