What Does PIP Insurance Pay for in Florida?

PIP insurance, or personal injury protection, is part of the no-fault car insurance that we have here in the state of Florida. This insurance pays you for injuries sustained in an automobile accident, regardless of which party was at fault. This type of insurance is meant to cover medical costs, lost wages from being unable to work, and even death benefits. Medical costs can include ER expenses, hospital charges, surgical services, medication, rehab costs, imaging, and diagnostics. However, there are limits.

 Limits of the Policy

There are limits on how much the policy can pay. After your deductible, the policy kicks in and covers expenses to a certain ceiling. These limits include:

1. 80% of medical expenses up to $10,000.

2. 60% of your lost wages.

3. Death benefits to $5000.

4. Mileage reimbursement to and from physician’s appointments.

But wait! There’s more!

Unless your injuries after the accident constitute an emergency medical condition, the reimbursement is capped at $2500. An emergency medical condition is defined as a condition that could reasonably be expected to jeopardize the patient’s health, or even lead to death. Moreover, the PIP policy will not cover any medical expenses if the patient does not seek treatment within 14 days of the accident. A physician may request a letter of protection before beginning treatment. This is a document that protects the doctor by saying that expenses will be paid out of the claim settlement.

Is PIP Enough?

 While carrying personal injury protection is part of a basic auto insurance policy, it may not be enough in the event of a serious accident. Automobile accidents can leave victims with traumatic brain injuries spinal cord injuries, amputations, and broken bones. These injuries can require extensive treatment, special living adjustments, in-home or residential care, or living the rest of one’s life in a skilled nursing facility. The small amount paid out by PIP may not cover the totality of lost wages to the extent that is actually lost. When medical bills for even simple procedures can roll up into the tens of thousands of dollars, the wisdom of simply carrying the minimum insurance and hoping you never run into the other guy is not a safe bet.

Best Advice?

 Think in terms of what could happen to you on Florida roads. If you’re only thinking in terms of how much her monthly premium will impact your pocketbook, it is a pretty safe bet to say that you are making a questionable decision at best. Thinking in the long-term means taking into account that unpleasant things could happen to you, no matter how good a driver you are, no matter how safe your car is, or how little you drive. At a minimum, PIP coverage should be $10,000 per person, while the other part of your policy should cover $50,000 in property damage.

Speaking to an insurance agent about your overall insurance picture is a worthwhile investment of time, and following the advice of an experienced insurance agent is a sound investment of your money. When you look at auto insurance, don’t just look at the premium going out of your pocket, but what is coming back to you should you ever really need that policy.