What is PIP insurance?
PIP insurance, also known as Personal Injury Protection insurance, is offered by your insurer and covers 80% of your healthcare expenses and 60% of your salary loss, with a cap of $10,000.00.
Personal Injury Protection (PIP) insurance covers individuals and their household members for injuries sustained in a car crash, regardless of fault. This insurance pays 80% of reasonable and necessary medical expenses, 60% of lost wages, and 100% of household services, up to a maximum of $10,000. Florida statutes mandate that all Florida-registered vehicle owners carry PIP coverage to safeguard themselves in the event of car accident injuries. PIP coverage takes precedence over any existing health insurance for injuries sustained in a car crash.
Personal Injury Protection insurance is mandated by state law. It is a policy that’s in effect and you’ll find it on your policy labeled PIP or no-fault insurance. Typically, it’s a $10,000 policy and it offers benefits, irrespective of blame, for healthcare costs or burial expenses or income loss.
PIP coverage applies to the vehicle owner, it applies to resident relatives of the vehicle owner and it can apply to occupants if they don’t own a motor vehicle or they have no PIP coverage.
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