Choosing an auto insurance package that is right for you can be intimidating, especially when you are a new driver. From coverage to costs, the policies and information can become slightly overwhelming. Personal injury protection, also known as PIP insurance is one of the many options out there that you can choose from. PIP insurance will cover expensive medical costs, despite whose fault it is in the accident. The cost of an accident can add up quickly. Find out in this article why PIP insurance is definitely worth having.
Great Coverage
PIP insurance comes with a substantial amount of coverage. Not only does it include medical expenses, but it also covers lost wages, rehabilitation costs, funeral expenses, and “substitute services.” So, if you are considered the primary caregiver and not able to fulfil your daily tasks, PIP will help financially. Keep in mind, many other car insurance options will not offer these opportunities. It is important to research what is included in your insurance plan before purchasing it. The more coverage involved, the more better off you will be if you do find yourself in an accident.
No-Fault
Unlike other insurance companies, PIP coverage doesn’t look for anyone to blame. Imagine being in an accident and having to wait until the insurance company figures out who is at fault. Not to mention the waiting time for receiving financial assistance, if you aren’t even to blame. Since this is a ‘no-fault’ insurance package, legal obligation such as suing one another may not be an option. However, it can affect your auto insurance rates. Make sure to check with your state law for more information on this matter. This is a strong detail to take into consideration because you will receive medical and lost income payments sooner than usual, and financial aid is guaranteed no matter what.
No Insurance? No Problem
On the road, you never know who has insurance and who doesn’t. The obvious way to find out is in an accident. According to Sarah Noll, “Sometimes, a driver may cause an accident and have no insurance, or not enough insurance to cover the medical bills of the persons he hurt.” For more information, you can visit https://www.noll-law.com/. With PIP insurance, you won’t need to worry about the other person being insured. When you file a claim, it will go straight to your insurance company. The process is seamless and not as comprehensive as with other insurance packages. It will also save you a lot of time when filing. This is just another important detail to consider when looking into PIP insurance.
Family Matters
Although it is different in all states, some offer family coverage under the same PIP insurance policy. Your family members will be covered while driving in their own car, as well as someone else’s car. In addition, if your family member is involved in an accident as a pedestrian, they are also financially taken care of. Many other insurance packages do not offer this opportunity, and if they do sometimes it can be pricey. If you want to make sure your family is covered at all times whether you are with them or not, this is another reason why PIP insurance is worth it. Make sure to check if this option is covered in your state.
Save On Costs & Time
PIP insurance helps you to save a tremendous amount of money in the long run. Even though monthly payments can be tedious, it is nothing compared to the thousands of dollars you will spend in an accident. Furthermore, car accident injury claims can take months to resolve with no money being distributed to the victim. Healthcare is rising and will continue to increase. As the months pass, the medical bills will continue to pile up, and no one will be able to pay them. It is important to see past the minimal monthly payments and remember that it will help you to save thousands in a time of crisis.
Based on the reasons above, PIP insurance is definitely worth looking into. As a new driver, you are guaranteed to have a lot of coverage, be covered no matter who is at fault or even if the other driver isn’t covered, keep your family financially secure, and last but not least conserve on costs and time in the long run. Without auto insurance, you can find yourself in a lot of financial trouble and debt. Not only will you have to deal with the consequences, but your family will be involved as well. It is important to make sure you are insured and doing your research. Be sure you check with your state’s PIP insurance rules to see if you qualify for the above reasons, as the information varies from state-to-state.
