What Is Personal Injury Protection Insurance?
Personal Injury Protection Insurance, or PIP, is required in the state of Florida. Florida is one of only 10 states that requires all drivers to carry this type of insurance. It means that in Florida, you are responsible for carrying the insurance that pays for your own injuries. It can also cover your lost wages if you have to be out of work for a while due to an injury. You can receive the full benefits of your PIP insurance whether you are at fault for the accident or not. It is considered “no fault” insurance. What is covered varies state by state, so check Florida’s guidelines or talk with your insurance company regarding treatment options.
Why Does Florida Require PIP?
The thought behind requiring drivers to carry PIP insurance is to help speed up the amount of time that it takes for people to receive an insurance settlement. Getting a settlement from someone else’s insurance company can take a really long time. Sometimes months, and sometimes years. If you are dealing with a huge medical bill and can’t pay it on time, the penalties and fees really start to add up quickly and you can be stuck with an even higher bill. If you carry the insurance to pay for your own bills, you can collect your own settlement much quicker than waiting for the court.
How Much PIP Insurance Do You Have To Carry In Florida?
The state of Florida requires anyone driving a vehicle with 4 or more wheels to have at least $10,000 worth of PIP insurance coverage. You can have a deductible of up to $1,000 from that policy which may help to lower your payments, but it means that you will be responsible for more in case of an accident. The deductible can only be up to $500 for property damage liability. This helps to make sure that you will be able to collect on the policy when the time comes around.
Do I Need Other Insurance Too?
There are other forms of insurance out there that can help you in the case of an accident. Collision insurance can help you to recover the costs of a damaged car. If you have been convicted of a DUI, Bodily Injury liability insurance is required once your license is reinstated. PIP will cover you, relatives that live in your home, some passengers who do not have their own coverage, and others who might drive your car with your permission. It can also be used to cover bicyclists and pedestrians. Other insurance is not necessary, but it can help in the time of an accident.
PIP insurance only covers part of the costs of your medical bills and property damage bills. If you have been injured in a car accident, you may have cause to put in a suit. All Injuries Law Firm is here to help. Contact us or fill out the form on our website to get started and we’ll help you take a look at your case. Don’t let the medical bills pile up. Let us help you get what you need.