What is Personal Injury Protection (PIP) Insurance
PIP insurance is also known as "no-fault" coverage and usually includes three pieces of coverage:
- Medical Costs
- Lost Wages
- Funeral Costs
Medical Costs can consist of costs associated with (note, these can also be covered by your health insurance):
- Ambulance charge
- Hospital/ER bills
- Rehab costs
Lost Wages means you can recover the wages you missed from the accident due to the inability to work. The coverage usually quotes on a $X/week or $X/month cap as well as a lifetime cap.
Funeral Costs are paid to next of kin in the event someone dies during a car accident. The coverage is usually not much, maybe $1,000. For better coverage against the worst-case scenario, you will want to look into a life insurance policy.
PIP insurance is mandatory in the following states:
Note: some states, like PA, list the coverages separately instead of one PIP limit.
At your service,