Ever hear of PIP? For those unfamiliar, we’ll give you the long form name for this form of coverage. Personal Insurance Protection is an extension of an auto insurance policy that is an optional coverage in some states, a required coverage in others and not available in still other states.
What is it?
PIP or Personal Insurance Protection is a medical insurance that protects you or your passengers if there is an injury from a car accident. If you have acquired it, PIP will cover medical costs and more even if you are responsible for the accident or collision.
Understandably, the coverage is also known as ‘no-fault insurance’ due to the nature of coverage not being dependent on liability.
Of course in states like New Jersey, New York, Pennsylvania and Florida where the Personal Insurance Protection is mandated, drivers need only get a minimum required amount of coverage.
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