PIP Insurance: What’s It All About?
What kind of insurance is Personal Injury Protection?
Personal injury protection (PIP) is also commonly known as no-fault insurance. It was designed to help pay for common expenses after a car accident not covered by traditional insurance regardless of who is at fault for an accident.
Since with PIP insurance it does not matter who is at fault you can be assured you are not left with sudden bills after an auto accident. Additionally, depending on your PIP insurance if can help cover medical expenses for your injured passengers. PIP insurance coverage can even apply if you are hit by a car while walking or riding a bike.
PIP insurance is not required in Nevada, but it can help to protect you and your loved ones. If you were involved in an accident the passengers in your vehicle may not have the ability to afford medical care. While they may be able to collect against the other driver, litigation can take time. These days it is not uncommon for insurance companies to stall as they know courts may not reopen for some time, and it will still take years for a case to come to trial.
Further many insurance companies are preying on people’s desperation. Many companies are offering clients settlements well below the value of their claims, hoping they will be so desperate they will accept a pittance. PIP insurance can provide the coverage you need during a potentially life changing injury, but also project you, or your loved ones, from being forced to take a settlement due to financial duress.
The most common types of losses paid for by PIP insurance are:
Medical Expenses
PIP insurance can help cover medical bills for you and your passengers after a car accident. This can include such costly services such as being taken from the scene of an accident by ambulance or helicopter. PIP coverage can also potentially pay any health insurance deductibles you may own.
Work Loss
Following an accident, you may need time to heal. Even if you are not hospitalized after the accident, you may not be able to return to work immediately. PIP insurance can help ensure you continue to receive your expected paycheck amount even if you need to take off work to heal.
Funeral Expenses and Survivors’ Loss
Car accidents are very commonly fatal and can leave your family in a terrible situation. Not only are they grieving, but your work income is no longer coming in, and funeral expenses can be high. PIP coverage helps pay for funeral, burial or cremation expenses after a car accident. Further PIP insurance may cover your lost income for your family.
PIP Insurance is not offered on Nevada Automobile Insurance
Although PIP is not offered in the State of Nevada, Medical Payments is and covers anyone injured in the insured vehicle at the time of the accident.