Personal Injury Protection, commonly known as PIP, is a mandatory component of auto insurance in Florida. Unlike liability coverage, which addresses damages to others, PIP covers medical expenses and, in some cases, lost wages for you and your passengers, regardless of who is at fault in an accident.
This coverage aims to ensure that individuals involved in accidents have immediate access to medical benefits and a portion of their lost income.
Coverage limits and benefits
Florida requires a minimum of $10,000 in PIP coverage, although you can purchase more. These policy payouts typically extend to 80% of medical expenses related to the accident and 60% of lost wages, up to your coverage limit. These limits directly impact the financial support available in the event of an accident.
Prompt medical attention and PIP
One notable advantage of PIP coverage is its ability to provide swift medical attention. In the aftermath of an accident, the immediate access to medical benefits under PIP can be instrumental in addressing injuries promptly, contributing to a faster recovery process.
Navigating the no-fault system
Florida operates under a no-fault insurance system, meaning that PIP coverage comes into play no matter who is responsible for the accident. This setup streamlines the process, ensuring that individuals receive necessary medical support without the need to establish fault first.
What PIP does not cover
PIP does not cover all damages related to an accident. It does not extend to property damage, leaving your vehicle repairs and replacements uncovered. It may not cover all medical expenses or lost wages beyond certain limits, and there is no provision for replacement services.
PIP notably excludes non-economic damages. This means it will not cover pain and suffering, emotional distress and other long-term quality-of-life conditions resulting from an accident.
Consider additional coverage
Considering additional coverages, such as bodily injury liability, can provide enhanced protection, especially in situations where PIP limits are not enough to pay all of your accident-related costs.
