What is a good bodily injury coverage?
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What is a good bodily injury coverage?
You should carry bodily-injury coverage of at least $100,000 per person, and $300,000 per accident, and property-damage coverage of $50,000, or a minimum of $300,000 on a single-limit policy. Raising your limits isn’t expensive: $300,000 in coverage costs 20% more than $100,000, on average.
What does bodily injury cover?
Bodily injury liability coverage helps pay for another person’s expenses if you injure them in a car accident. Remember, this type of coverage typically helps cover someone else’s medical bills.
What does PIP coverage pay for?
Personal injury protection (PIP), also known as no-fault insurance, helps cover expenses like medical bills, lost wages or funeral costs after a car accident, no matter who is at fault. Requirements for this coverage vary from state to state.
Do I have to pay back PIP?
PIP insurance may need to be paid back in states that follow the tort system for car insurance. So-called at-fault states require the person who causes an accident to bear the burden of the costs, which sometimes requires repaying your own insurance company for PIP coverage.
Do I need PIP if I have medical insurance?
PIP coverage is often a requirement in “No-Fault” states, as it covers your injuries, no matter who caused the accident. Comprehensive health insurance coverage renders PIP or medical car insurance less necessary. If in doubt, check with your healthcare provider.
Is personal injury protection worth it?
If you live in one of these states, PIP may be worth considering since it can help pay for accident-related expenses not covered by your health insurance. But take note: This optional coverage will increase your car insurance premium.
What is the difference between PIP and medical payments?
Personal Injury Protection Coverage Personal Injury Protection is similar but distinct; while medical payments coverage is strictly intended to cover medical bills, PIP takes things a step further, covering health costs and resulting lost wages for you and your passengers after an accident, regardless of fault.
