The Basics Of PIP
Here in Florida, owners of motor vehicles must carry a minimum of $10,000 of Personal Injury Protection, or PIP, in addition to property damage liability on their insurance.
What is PIP Protection?
Personal Injury Protection insurance works by providing coverage for you no matter which driver is at fault in an automobile accident. If something were to happen, the insurance provider would provide compensation for injuries and wage losses. PIP also covers your child, family members and passengers who do not have PIP insurance.
Under the Sunshine State’s law, the insurer must pay for 80% of your medical bills up to that $10,000 limit.
PIP is a vital component of automobile coverage, but another consideration when obtaining insurance is Uninsured/Underinsured Motorist Coverage. Since motorists are not required to have liability insurance, many times a person who is injured because of someone else is limited to only PIP benefits. However, if you purchase Uninsured/Underinsured Motorist Coverage you can make a claim against that coverage for amounts over and above your PIP benefits.
Your automobile coverage can dictate how you are ultimately impacted financially after an automobile accident.
Regardless of what type of coverage and coverage limits you carry, however, it is imperative to receive medical care and legal advice promptly after being involved in a collision. It is advisable to speak with an attorney before giving a recorded statement or signing any documents.