PIP Coverage

What is Personal Injury Protection Coverage or PIP, known as ‘pip’? PIP coverage provides benefits for the payment of your own medical expenses, if you are involved in an accident, also for loss of income and for essential services. So, this is a package of benefits you get from your own insurance company regardless of who is at fault for the accident. Whether you are at fault or the other driver is at fault, your own insurance company pays personal injury protection benefits. Now, how much coverage did you have? For medical expenses, the standard coverage is $250000 worth of medical expenses per person per accident. You should never purchase less coverage than the standard coverage of $250000. You want to make sure that you have enough medical expenses to protect yourself and your family if you are involved in a serious accident. As for loss of income, the standard policy provides for a $100 a week, that’s much too low for most people. So, you should increase that coverage up to the maximum that’s allowed which is $700 a week of income continuation benefits. Then you’ll be properly protected under the personal injury protection or PIP provisions of your policy.