The best magazine
What Is Medical PIP?
- PIP coverage is identified in the portion of an auto insurance policy relating to medical expenses. The PIP coverage will have a disclaimer and notice of coverage and reporting that is separate from the auto insurance policy. It is added to cover bills that cannot be paid because of injury.
- Insurance has been issued on personal and business tools that can be lost due to accident for more than 3,000 years. Insuring marine vessels and personal properties was originally centered in London in a coffee house where the Lloyd's of London founder would collect news and information on business marine travel. Underwriters would come to the coffee house to arrange for payments to be made by marine owners for insurance against loss. The practice of insurance was organized and the procedures and benefits of insurance began to take shape. With the advent of new forms of coverage and transportation, underwriters of insurance policies grew to include automobile coverage. As the number of cars increased, so did the regulation of insurance by states. Personal Injury coverage was commonly included in auto insurance policies starting in 1954 and, as time passed, more states required that auto insurance policies include no-fault coverage for the policy holder.
- While most auto insurance policies have a separate medical coverage clause, PIP coverage can be used for other expenses that go unpaid due to injury or accident.
- PIP coverage is purchased in certain dollar amounts. If your PIP coverage is not large enough to cover all expenses, then you will be responsible for the remainder. The best practice for purchasing PIP insurance is to learn what is covered and for how much. Some PIP coverage can be so small that it is unable to cover a large loss.
- It is important to understand where your auto insurance coverage stops and a PIP policy starts and vice versa. PIP coverage is the most efficient way to begin receiving insurance coverage payments for losses resulting from a covered auto accident.
- PIP insurance coverage is required in Delaware, Florida, Hawaii, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Dakota, Pennsylvania, Utah, and Texas.
Identification
History
Function
Warning
Considerations
Geography
Source: ...