Personal injury protection is insurance that protects you against financial losses due to an injury or illness. It can cater to the funeral, medical, or lost wages, and provide financial assistance if you are diagnosed with a chronic disease. Call SIIS in Iowa for expert advice.
What Personal Injury Protection Entails
The PIP insurance protects you and your family if you are involved in an accident and are financially responsible for any damages. It is often required by your employer if you have a job that has anything to do with the risks of injury, such as construction, or if you are helping to fund a business.
You can get PIP insurance through the government or a private carrier. The policy gives the policyholder financial protection when involved in an accident and has suffered a physical injury or illness. The cover is often included as a term in the policy being a standard feature, and while it’s not required in every car insurance policy, it is recommended.
There are also minimum amounts that must be covered by PIP in every state, as well as maximum limits. The minimum amount for medical expenses coverage varies from $2,500 to $4,000 per person. The minimum amount for wage loss coverage varies from $10,000 to $15,000 per person.
The minimum amount for death benefits varies from $5,000 to $10,000 per person. Furthermore, the total amount of all three types of coverage cannot exceed $50,000 per accident and no more than $100,000 per policy period (usually one year).
Contact Us Today
If you do have health insurance that will pay some or all of your bills related to an accident it can still be worthwhile to add PIP to your policy. This means you won’t have additional out-of-pocket expenses when dealing with injuries sustained in an accident. For professional guidance in Iowa, consult SIIS.
Comparing Quotes - Made Simple