To protect yourself in the best way from a loss in an accident it is important to know the value of the insurance coverage, to know what Personal Injury Protection or PIP coverage is.
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Personal Injury Protection (PIP)
We all know that it’s not necessary to buy an insurance policy if you’re going to take a walk or ride your bike, thankfully. However, if you’re hit by a car while doing so, does that mean you’re unable to be compensated for your injuries and losses? Fortunately, no, thanks to PIP.
Texas does not require you to have PIP. However, insurers must give you $2,500 as part of your policy if you don’t specifically reject PIP. You can pay increased premiums for higher PIP limits.
The exhaustion of PIP benefits can create serious hardship for people who have not adequately planned ahead.
If you were not at fault for causing and accident, and you make a recovery from a person who was at fault for causing the accident (also known as a “tortfeasor”) that person is responsible for all of the bills related to the accident. Learn more here about PIP, and why your insurance company needs to be reimbursed.