Car accidents happen—a lot. According to the Property Casualty Insurers Association of America, the average driver files an accident claim about once every 18 years. At that rate, you could have three or four accidents in your lifetime, and chances are you or your passengers will be injured.
More than 2 million people are injured in car crashes each year. Injury accidents are extremely costly; even minor injuries can lead to hidden costs and serious financial problems. What if you can’t return to work for a while? Who will care for your children if your injury makes childcare difficult? Will you be able to clean your house, or take care of your yard?
According to the National Highway Traffic Safety Administration, car accidents cost Americans $871 billion every year. If a driver or passenger sustains even a minor injury, costs can quickly skyrocket. You could be faced with:
If you don’t plan ahead, you might not have sufficient insurance if you or your passengers are injured in an accident. Personal injury protection (PIP) insurance might be what you need to help ease the financial burden of a car accident.
Serious car crashes are devastating for everyone involved. But have you ever stopped to think about the hidden costs of even minor accidents? Aside from direct medical expenses, injuries can lead to lost productivity and may cause financial hardships in ways people never expected.
Let’s say you sustain a back injury in a fender bender. Initially, you will be grateful to walk away with minimal damage to your vehicle. When the injury becomes apparent, the bills can start piling up quickly. You could face expenses for doctor visits, physical therapy, medications, X-rays, and MRIs. And what if you can’t return to work for a while? Who will care for your children if your injury makes childcare difficult? Will you be able to clean your house, or take care of your yard?
Personal injury protection insurance may be able to help you pay for some of these hidden—and potentially overwhelming—costs.
Personal injury protection, or no-fault insurance, covers injuries and other costs for you, your passengers, and even pedestrians who are injured in a car accident. PIP auto insurance is mandatory in some states with no-fault insurance laws. In these states, an insurance company will pay for its own insured driver’s injuries (and passengers’ injuries), regardless of who is at fault for an accident.
Coverage requirements and availability vary by state, but in general, PIP car insurance pays for expenses related to injuries sustained in an automobile accident (up to the dollar limit you have selected). Covered expenses may include:
Contact your independent Trusted Choice® insurance agent to find out what personal injury protection insurance covers in your state.
If PIP is required in your state, it is included in your auto insurance quote. If you think you have sufficient coverage under your health insurance plan, consider purchasing only the minimum PIP coverage required by your state. If you don’t have health insurance or have a plan with a high deductible, you might want to consider maxing out your PIP coverage to protect yourself if you are in a serious car accident.
You can work with your insurance agent to adjust your coverage limit and add or delete optional coverage as needed.
In states where PIP is optional, there is likely to be coverage for medical expenses through health insurance policies. However, PIP offers valuable supplemental coverage. With the help of a Trusted Choice independent insurance agent, you can carefully evaluate your health insurance and other types of insurance coverage you might have to determine if PIP is right for you.
Here are some factors to consider:
If you are in any way concerned about your ability to pay for accident-related injuries (or want to ensure that your passengers can pay for theirs), PIP might provide the peace of mind that you need.
If you have good medical coverage, as well as life and disability insurance to help with other expenses, you might be able to forgo PIP coverage and save money on your car insurance. In states where personal injury protection is not available, you may want to purchase medical payments coverage, which offers similar protection for injured drivers or passengers.
If you live in a state with mandatory personal injury protection coverage, it is already included in your auto insurance policy. In states where PIP is optional, rates vary based on a variety of factors.
A Trusted Choice independent agent can tell you if PIP is optional in your state, and can help you compare quotes from several companies so you can determine which one offers the best combination of coverage and price for your budget. In many cases, PIP coverage can be quite affordable, and it can protect you from serious financial consequences if you are in a car accident.
Contact a local Trusted Choice agent today to learn more and obtain competitive quotes.