What is pip in insurance?

Question

What is pip in insurance?

Answer 1

PIP is personal injury protection coverage that is generally available in what are called "No Fault" insurance states.

This is coverage for YOUR medical expenses, lost wages and replacement services (to do stuff you can't do while recovering like clean your house, etc.) and you get these from your own insurer without having to figure out whose fault the accident was.

In states that have PIP (No Fault), you are supposed to get these benefits in exchange for not suing the at fault driver.

Theoretically, this saves everybody money because there are supposed to be fewer lawsuits.

The attractive feature of PIP coverage is that it you get to go to the doctor if you are hurt and don't have to pay co-pays, deductibles, etc.  The coverage is first dollar meaning you should not have to pay anything when you are treated.

A big warning though!!!  Most PIP states also have large amounts of provider fraud.

If you go see a chiropractor or physical therapist in a PIP state after an auto accident, they may sign you up for weeks and weeks of adjustments and therapy because they know they can exhaust your PIP benefits (which are $20,000 in my state), even though you may be better in a week or two.

When you look at the state's with the most expensive auto insurance rates, they are all states with No-Fault PIP mandates.

Answer 2

Personal Injury Protection.  Actual coverage varies by state and policy limits, but generally this covers medical bills, lost wages, and services you have to hire because you can't perform them, if you're injured in an auto accident.

Answer 3

PIP- Persona Injury Protection...  This coverage is good for someone who only has liability but wants their medical to be covered in the event that they hit someone.  If you only have liability and you hit somebody your liability insurance does NOT cover you, only the person you hit.  

Thats where the PIP comes in, it covers up to the limit you choose in coverage.  It will cover medical and lost wages-only those missed by being hurt in your accident- the two can be slpit up in any way.  There is also another alternative in Texas, medical coverage.  PIP covers both lost wages and medical, medical covers only the medical and is about a third of the price.  I have 10,000 PIP just in case b/c my husband and I both work full time jobs.  My father in law is a pastor so he and his wife both work at the church.  I do not reccomend PIP only medical to them b/c the church will continue to pay them even if they are not there.  It all is a personal preference.  Hope that helps!

Answer 4

PERSONAL INJURY PROTECTION (PIP) COVERAGE

In some states, this provides coverage for an insured person for certain “reasonable and necessary” expenses. The types of expenses that qualify for PIP coverage vary from state to state, but some examples of expenses may include: loss of services, income continuation, medical and hospital expenses, funeral expenses, and child care expenses for bodily injury caused by a covered accident (regardless of who was at fault). Click your state name below to see coverage details in your state.