PIP can usually be purchased in increments of $2,500, $5,000, or $10,000 per person. The more you can afford the better, but even the minimum ($2,500) is far better than nothing. How cheap is cheap? Last time I priced it, $10,000 in PIP coverage for three vehicles cost right at $13.00 per month.
Why is it so valuable? PIP is so valuable because of what it covers. Simply put, it is no-fault coverage for medical bills and lost wages. In addition, it is not subject to subrogation or reimbursement by your car insurance carrier. Let’s look at an example. You get into a wreck and it’s your fault! As a result of the wreck, you are injured and miss several days of work. If you were smart enough to purchase PIP coverage, you would have coverage under your auto policy. Even though the car crash was your fault, you can still make a claim on your policy for PIP benefits. Those benefits can help you pay medical bills and would even pay you up to 80% of your lost wages. And, there’s more. PIP covers passengers in your vehicle as well and would even cover you if you were injured as a pedestrian.
If you are looking to save money on your car insurance, don’t do it by declining PIP coverage!
Call (512)-910-2000 or contact us online to learn how an Austin Personal Injury attorney can help.
Summer is almost here, and that means road trip season. While getting out on the road with your family is a great way to see the country and reconnect with friends and loved ones, you want to make sure to keep your kids safe in the process – and to be in compliance with Texas’s […]
Ridesharing companies, such as Uber and Lyft, are becoming very popular in Austin and across Texas. Thousands of Austinites opt for an Uber ride instead of driving or taking a traditional cab service when they need to get to the airport or are planning a night out on the town. Although Uber and Lyft offer a convenient ride service that is certainly […]