What is PIP Insurance?
Michael Babboni
Insurance Coverage
PIP stands for personal insurance protection or personal injury protection. It is typically an extension of your car insurance that will help cover medical expenses and sometimes lost wages. It has also been known as no-fault coverage because it has also been found to pay out on claims no matter who is at fault.What Does PIP Insurance Coverage?
PIP Insurance covers medical expenses, lost wages, and more. In terms of medical expenses, a PIP plan may cover up to eighty percent of the expenses that may have resulted from the accident. However, the coverage is limited to the actual policy that is in place. In some cases, the coverage may even cover passengers of the vehicle.
In the state of Florida, for example, if you are injured and subsequently disabled due to an accident, Florida PIP insurance coverage will pay up to sixty percent of your lost wages, but this percentage may also be subject to a $10,000 limit.
Services that may also be compensated for due to the accident include all the tasks you would have previously been able to do without assistance such as taking care of the laundry or pets you may have or cleaning the house.
PIP Insurance can also cover service replacement of someone involved in the accident, rehabilitation costs, and funeral expenses.
If the PIP policyholder was killed in the accident, then death benefits such as funeral and burial expenses would be covered, in addition to all the previously mentioned benefits of the PIP coverage. The policyholder’s next of kin is entitled to approximately $5000 for these costs.
The Benefits of PIP Insurance Coverage
PIP Insurance coverage benefits you after an accident, even if the accident was deemed your fault. It helps cover the costs and protect your friends and family when you are involved in an accident.
Is PIP Insurance Coverage Required?
In the state of Florida, the law does require residents to have car insurance. It also requires that you purchase the minimum coverage amounts available for both PIP insurance and PDL or property damage liability insurance.
Minimum coverage for PIP in Florida is $10,000 and does provide the coverage and compensation to the driver involved in the accident, even when they are found to be at fault.
How Do You File a PIP Claim?
There are many strict rules that apply to PIP coverage in Florida. One rule states that if you need treatment for any injuries sustained during the accident, you must seek the treatment within two weeks or you may not be eligible for PIP reimbursement.
After two weeks have lapsed, your claim will no longer be accepted. However, if you have come across a few issues concerning your coverage and the timeframe, then it may be in your best interest to seek the counsel of a professional personal injury lawyer to help you with your claim and answer all questions you have regarding the process.
To receive any work loss benefits, you must have your employer fill out a Wage and Salary verification sheet and this sheet must document your wages for the previous thirteen weeks prior to the accident. Again, a personal injury lawyer will be able to help with all the documentation and can also ensure that you receive all the forms you need in a timely manner.