Understanding Personal Injury Protection (PIP) Coverage

Car accidents can lead to injuries, and those injuries could prove extremely costly. Of course, no one wants to face any burdens paying for their medical bills or experience a loss of income as a result of these injuries. That’s why most car insurance policies offer a benefit called personal injury protection, also called PIP coverage. In Florida, this coverage is required of drivers due to the state’s no-fault auto insurance laws. 

PIP coverage is a unique benefit that can be a great support system for drivers, no matter who they are. That’s why you should always carry more coverage than just the minimum PIP coverage required by Florida law. Let’ take a closer look at how it works. 

What is PIP coverage? 

If you get into a car wreck and sustain injuries, then you might face several financial challenges. First, there will be the issue of your medical bills, which you will likely have to pay.  

Even if you have health insurance, it is still not a guarantee to cover 100% of your costs. In such circumstances, a claim on your PIP coverage will help you cover these remaining costs. If you do not have health insurance, then this coverage can provide even more benefits. 

Not only that, but PIP coverage can also provide you with other support beyond medical costs. For example, many policies can provide coverage for income lost during your time out of work, childcare costs or even home upkeep expenses. Some policies even offer a death benefit to survivors in case the injured driver dies as a result of the accident. 

Why do I need PIP coverage? 

PIP insurance pays for injuries regardless of who was at fault in an accident. As a result, it can often provide benefits quickly and without you having to file against another party’s at-fault liability insurance. As a result, many states refer to PIP coverage as no-fault auto insurance.  

Some states are also officially no-fault insurance states, Florida included. Under these rules, drivers are required to buy PIP coverage as a primary qualification for driving. They also must file against the PIP coverage first for their medical benefits even if the other driver was at fault for the accident. Only after reaching a certain threshold can they file against the other driver’s liability coverage. 

Under Florida law, you must have at least $10,000 worth of PIP coverage to drive legally. However, you have leeway to increase this coverage to offer much more substantial protection if you do get hurt in an accident. Therefore, don’t hesitate to work with your independent insurance agent to compare the policy options that offer optimized PIP benefits for you. 

If you have any questions about personal injury protection coverage, than you can call our team of dedicated agents at Monroe Insurance Agency conveniently located in New Smyrna beach, Florida. Visit us today!