Personal Injury Protection
What is it?
Personal injury protection, also known as PIP coverage, is an option on all personal auto insurance policies.
Personal injury protection provides medical coverage for the policy holder when involved in a motor vehicle accident.
Coverage limits begin at $10,000 and can be increased to $35,000, or in some cases, as high as $50,000.
Coverage extends to passengers in your vehicle and also applies if you are a pedestrian struck by a motor vehicle.
What does it do for you?
Personal Injury Protection coverage is available for immediate use in the event of an accident. No need to wait for two (or more) carriers to determine who is at fault or what percentage they are willing to pay.
Some medical insurance policies have a $10,000 deductible built in for injuries sustained in a motor vehicle accident. If your medical policy has this clause, personal injury protection is an inexpensive way to fill this gap.
What’s the cost?
Approximately $4/month per vehicle for a $10,000 limit.
Do you need it?
I have health insurance, why do I need PIP?
Although it feels like you are purchasing duplicate coverage, you need to consider the deductibles of your health insurance policy, as well as the fact that your health insurance will not extend to passengers in your vehicle and it will not provide you with lost wages. With the cost of $4 per month, personal injury protection is a wise investment.
Let us know if you have questions on your policy, or if you want to meet with an agent to discuss what Guide Insurance Services can do for you! Contact us today.