Is Personal Injury Protection Necessary?

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biscuit
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Joined: Thu Dec 12, 2013 1:33 pm

Is Personal Injury Protection Necessary?

Post by biscuit » Sun Dec 18, 2016 10:37 pm

How important is it to have "personal injury protection" in car insurance when you already have a good health insurance from your employer?

TIA!

Invest2016
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Joined: Fri Nov 25, 2016 2:34 am

Re: Is Personal Injury Protection Necessary?

Post by Invest2016 » Mon Dec 19, 2016 1:35 am

I am a personal injury attorney in Utah. The laws are different in every state. In Utah, it is good to have PIP because it offers $3,000 for inital medial treatment or more if people buy it. Why should you have to use your health insurance and be subject to copays, etc for an accident you did not cause? The PIP coverage should only cost pennies per day.
Your UIM auto insurance limits are much more important than having PIP or not if you have health insurance. In Utah, a person only has to carry $25k in liabilty coverage. Most people only buy $25k UIM / UM to match the liabilty. I have many clients that have $100k plus medical bills with only $25k liability and $25k UIM to work with or less if the liable party is uninsured. In Utah, the insurance company has to give injury clients value for total bills plus general damages regardless if the injured person has a health benefits of not. The result is many settlements that should be $250k or more are killed by insurance limits. RAISE YOUR LIMITS TO THE MAX!!!!
Talk to your agent. You will be shocked how little it costs to get 10x more coverage!!!

Unfortunately, I had to tell the parents of a kid who was killed on his motorcycle that the person that caused the accident only had $25k liability and the parents only purchased $25k UIM on the motorcycle policy. Not good! Case is worth 1mil settlement =$50k.

kenner
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Re: Is Personal Injury Protection Necessary?

Post by kenner » Mon Dec 19, 2016 11:45 am

If you go to the WalletHub website and search "PIP insurance coverage by state", you can obtain some valuable information. Some states require car owners to carry PIP coverage. But even if it is not legally required in your state, the site explains why PIP coverage can be a very good type of coverage to have.

Gropes & Ray
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Re: Is Personal Injury Protection Necessary?

Post by Gropes & Ray » Mon Dec 19, 2016 2:24 pm

Need it? Maybe not, but I think PIP added $0.10 to my insurance bill. I also think my umbrella policy added $15 to my total insurance premium.

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FelixTheCat
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Re: Is Personal Injury Protection Necessary?

Post by FelixTheCat » Mon Dec 19, 2016 3:37 pm

Is PIP the same as Medical Payments?
Felix is a wonderful, wonderful cat.

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Hub
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Re: Is Personal Injury Protection Necessary?

Post by Hub » Mon Dec 19, 2016 3:54 pm

From what I understand it pays for things that your insurance will also pay for so you may even get paid double time on stuff. Plus at a minimum it would get me back my deductible in my HDHP, so I added it back on to our policies after watching a friend successfully use his PIP coverage no problem.

kenner
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Re: Is Personal Injury Protection Necessary?

Post by kenner » Mon Dec 19, 2016 6:03 pm

FelixTheCat wrote:Is PIP the same as Medical Payments?
No. MedPay pays only medical expenses. PIP coverage generally pays for additional losses, such as lost wages.

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FelixTheCat
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Re: Is Personal Injury Protection Necessary?

Post by FelixTheCat » Mon Dec 19, 2016 6:53 pm

kenner wrote:
FelixTheCat wrote:Is PIP the same as Medical Payments?
No. MedPay pays only medical expenses. PIP coverage generally pays for additional losses, such as lost wages.
Thanks for the information.
Felix is a wonderful, wonderful cat.

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