Do You Know What Personal Injury Insurance Covers?

Personal injury insurance or personal injury protection (PIP) is an extension of the typical car insurance.

It will provide coverage for treatment and medical expenses that are connected to injuries sustained during an automobile accident.

Understanding what personal injury insurance covers will help you decide whether it is the right coverage for you and for your family.

Basics of Personal Injury Insurance:
Although most common in cases connected to automobile accidents, this type of coverage may also be provided for personal injuries and emotional distress resulting from defamation or libel.

Some types of home insurances contain personal injury coverage for liability arising from bodily injuries. This insurance will provide coverage whenever an accident happens on the premises belonging to the insured individual.

In the case of auto insurance, PIP is mandatory in a number of states. This type of personal injury insurance will cover medical expenses, funeral expenses and the similar expenses of other passengers in the vehicle or pedestrians that were injured during the accident.

A Few Specifics to Keep in Mind:
PIP will not cover any of the medical insurance needs of the individual that caused the traffic accident. Insurance companies will typically finance the treatment and related expenses of the individuals that were injured by the insured party.

If you happen to be the victim of an accident, the other person’s PIP will cover your medical expenses. These specifics cause a lot of confusion andPersonal Injury Insurance very often, forensic accountants have to step in and carry out investigations about personal injury claims.

The average personal injury insurance will cover medical bills, medical equipment costs and death benefits. Some insurance companies will provide compensation for lost wages and punitive damages. The latter two types of compensation will be provided after a lawsuit and a court decision.

Costs:
The personal injury insurance is far from the most expensive type of coverage that the market has to offer. Most drivers are capable of affording the insurance.

Some vehicle owners should refrain from getting personal injury insurance because it will not apply in certain cases. PIP will not cover injuries caused by farm equipment, injuries caused by recreational vehicles, intentional and self-inflicted injuries or a felony that occurred during the time of the automobile accident.

Limits and A Few Other PIP Parameters:
When getting automobile insurance, you will decide about how much personal injury insurance coverage you will be willing to get.

As already mentioned, a number of states have made it mandatory for automobile owners to get personal injury insurance. The coverage limits are mainly low but minimal coverage is often related to financial losses in the case of an accident caused by you.

Drivers that decide to go without PIP coverage are often experiencing significant losses. The situation becomes even more cumbersome whenever the injured party decides to go to court and press for additional compensation. Getting personal injury insurance is one of the best ways to keep you protected from such worst case scenarios.

The personal injury insurance, whether it covers automobile or another kind of accident that results in medical expenses and diminished work ability, is a necessity. Choosing the best type of coverage and knowing what the insurance can do for you will help you pick the best coverage and make the most of it.

Please Note: Articles posted by guest writers are monitored but in no way do they reflect the opinion nor is this publication affiliated in any way with the subject or promotion of a subject.

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