One form of coverage that's available with automotive insurance policies is personal injury protection coverage. PIP coverage helps pay for your medical bills and other costs related to injuries you sustain during an auto accident, and it's mandatory in some states. If you have good health insurance that will cover you in the case of an auto accident, you may wonder if carrying more than the minimum coverage amounts (or carrying it at all in non-mandatory states) is worth it. While raising your coverage limits will increase your premiums, it's often worth it.
Read on to learn three reasons why maintaining excellent PIP coverage is a good idea even when you have great health insurance.
1. PIP Covers Non-Medical Benefits That Make Dealing With Injuries From an Accident Easier
One of the biggest benefits of carrying substantial PIP coverage on your automotive insurance policy is that its coverage goes beyond health insurance. In addition to helping you with your medical bills as a result of injuries from the accident, PIP coverage can also cover lost wages if you're unable to work as a result of your injuries. If your mobility is limited after the accident, PIP coverage can also cover childcare or housekeeping services that can care for your children and keep your home tidy until you're able to move comfortably again. A PIP policy's extensive non-medical coverage helps make your life much more convenient after you're injured in an auto accident.
2. PIP Helps Pay for Copays and Deductibles From Your Health Insurance
Even if you have good health insurance, it's unlikely that all of the medical care you receive after an accident will be completely covered. You may have to pay a large deductible for your medical treatment along with copays and coinsurance from your health insurance carrier. When you carry PIP coverage, it will cover the payment of any of the bills left over that your health insurance company sends you after treatment, including the deductible and copays that you owe. Good PIP coverage will help prevent you from having to pay large bills from your health insurance company that you may face after receiving treatment for your injuries.
3. PIP Will Provide Coverage for Passengers
Finally, PIP coverage will also protect the passengers in your vehicle if they're injured as a result of a car accident. If you have family-wide health insurance coverage, it will cover all of the family members in your vehicle after an accident. PIP coverage goes further and protects any friends that may have been riding with you at the time of the accident. If you often give rides to friends or family members who aren't covered by your health insurance plan, having good PIP coverage will help protect them financially if they're injured during an accident.
Carrying good PIP coverage on your automotive insurance policy will help minimize the disruption to your life after being injured in a car accident. You'll have help with lost wages and childcare, and you'll also have help with any deductibles and copays that your health insurance company will charge you for medical treatment. Even with good health insurance, it's still a very good idea to carry this form of coverage as part of your automotive insurance policy in order to maximize your protection.