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Personal Injury Protection (PIP) is a type of insurance that deals with injuries sustained during an automobile accident. PIP is sometimes referred to as “no-fault” insurance because it provides coverage regardless of who is at fault for the collision. It covers the medical expenses of any persons involved in an automobile collision, including payments that a health insurance policy may not.
In addition to funding 100% of medical bills up to that PIP policy’s coverage limit, this insurance covers 85% of work-loss wages. Car repairs are not included in PIP coverage; an individual’s collision policy deals with the costs of vehicle damages when that person is at fault, and liability protection covers the medical and property damage expenses of the third-party not responsible for the crash.
PIP typically safeguards the costs of any necessary medical treatments relating to injuries endured in an automobile accident, though this can vary from state to state and by policy plan. Coverage may include:
PIP is a separate part of a policyholder’s auto insurance. Some states require PIP insurance or some form of it up to a certain threshold, though in many states it can be waived.
Depending on a person’s health insurance, the minimum legally required PIP coverage plan may be sufficient; however, PIP typically precedes most health insurance plans’ coverage, so PIP may be a more affordable option for covering medical expenses resulting from a collision. A policyholder who opts for a higher deductible on PIP coverage can consequently lower the cost of their auto policy.