PIP Insurance Florida

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The Right PIP Insurance Florida

Finding the right PIP Insurance Florida means knowing the requirements of your state. PIP in Florida is one of these state requirements. If you are looking for PIP insurance, Florida has plenty of policy options to choose from. But, before you purchase a policy, you need to understand what it is and also what it covers. In addition, you need to know how much you can expect to spend on your policy. Here’s a brief look at everything you need to know about PIP insurance Florida.

PIP insurance Florida

What is PIP Insurance?

PIP, or personal injury protection, ensure that no driver determined to be not at fault for an accident doesn’t have to sue the at-fault driver’s insurance company, in an attempt to cover damages. Instead, if you are found to be not at fault, it pays for a certain percentage of the damage caused in an accident. Often referred to as no-fault” insurance, this makes the whole accident settlement process much simpler and quicker.

Where is PIP Insurance Mandatory?

  • Certain states, such as Florida, have made PIP insurance mandatory for all drivers. In addition to Puerto Rico and the District of Columbia, fourteen more states have made it a requirement for all drivers. These states are:
  • Delaware
  • Hawaii
  • Kansas
  • Kentucky
  • Massachusetts
  • New Jersey
  • New York
  • North Dakota
  • Oregon
  • Pennsylvania
  • Texas
  • Utah

While all of these states do require personal injury protection coverage, the minimum amount, as well as other laws and regulations that go along with it are different.

Why do Some States Require PIP and Others Don’t?

The states that require PIP do so because of the benefits it offers, including lower legal fees and court costs. They also appreciate how it streamlines the settlement process. Other states have shied away from mandating PIP insurance because it does limit a resident’s right to sue. Because of PIP’s no-fault system, drivers are not allowed to sue anyone who crashes into them. However, this means that all drivers are absolutely required to purchase personal injury protection in the states using this insurance system.

What is Covered by PIP Insurance in Florida?

A variety of costs are covered by PIP insurance Florida, including medical and death benefits and lost wages. They are discussed in more detail below.

Medical Costs

With the exception of some less traditional, yet popular medical practices, such as acupuncture, most medical costs will be covered. In Florida, policy owners can decide whether they want their policy to only cover themselves or other members of their family. If this is chosen, PIP will typically cover the costs of injuries for anyone in your household.

However, PIP insurance Florida differs from other states in some aspects. There is one significant difference between Florida’s PIP insurance and other states. In Florida, it will only cover 80% of your medical costs. (So, if your injuries cost $1,000, PIP would pay for $800 of that.) In addition, if your injury is determined not to be an emergency, you will only receive $2,500 in benefits. Fortunately, if you have a good health insurance policy, the rest of your costs should be taken care of, provided your policy does cover injuries received in a car accident. Specific medical services that may qualify for a PIP claim in Florida include:

  • Ambulance and related services
  • Diagnostic services
  • Medical services and medication.
  • The cost of rehabilitation
  • Surgical services and related hospital expenses

Death Benefits Explained

If a policyholder is killed in a car accident, PIP will cover the costs of their funeral and burial expenses, along with the benefits listed above. You, or your next of kin, would receive $5,000 for these associated costs.

Florida PIP Lost Wages

If, after being involved in an accident, you are disabled, PIP insurance Florida will cover 60% of your lost wages, although there may be a limit of $10,000. The payment also allows for services you are typically responsible for, but are currently unable to perform, because of the accident. This includes services related to your daily chores, such as washing your clothes, providing pet care, cleaning the house, and more. This coverage also includes the cost of transportation to the hospital, as well as some other expenses related to your personal injury.

How Much Will You Pay for PIP Insurance Florida?

State minimums and required coverages vary by state. Florida auto insurance law states that $10,000 is the maximum and minimum amount of coverage you can have. This means that you shouldn’t expect to pay more than $5 to $20 for this type of policy. (Your premium may be higher, depending on what other coverage options you choose.) However, there are options available that will reduce the cost of your premium. For example:

Choose a higher deductible. This option is the best way to see a big reduction in your premium. The higher your deductible, the lower your premium. In Florida, the maximum deductible is $1,000. However, there is one important thing to keep in mind before selecting the highest deductible. In Florida, you will have to pay the 20% of your medical bills not covered by PIP. Is this something you will be able to afford?

Leave out work loss coverage. While this will reduce your premium slightly, it won’t be all that much.
Exclude some of your household residents from coverage. However, you need to keep in mind that you will likely have to pay all their medical expenses if they are injured in an accident.
Compare rates. One of the best, and easiest, ways to get the lowest rate is by shopping around. Never settle for the first quote you get. Try out multiple insurers to get the best deal possible.

You Don’t Entirely Lose Your Right to Sue in Florida

Although PIP insurance was introduced in Florida as a way to decrease the number of people suing others over car accident damages, there are a few exceptions to the rule. In Florida, as well as most other no-fault states, drivers can sue if their injuries are deemed to be severely disfiguring, permanent, or resulted in death.

Florida does give you another option to sue, even if your injury doesn’t meet the criteria above. If your medical costs are more than $10,000, you can sue the other driver. For example, if you are in an accident that leaves you with $15,000 in medical bills, you can sue for the $5,000 not covered by your personal injury protection policy in FL. (Remember, PIP caps your medical expenses at $10,000.)

Finally, Florida will allow you to sue the other driver if the injuries you experienced cause emotional pain and suffering.

Does PIP Cover Injuries to the Other Involved Party?

No, PIP is only intended to cover your medical bills, along with other passengers in your car. It can also help cover the costs of injured pedestrians. It will not cover any other involved parties.

Personal Injury Law in Florida set as mandatory, for Florida residents, getting this insurance, though it may not be entirely necessary if you have high-quality health insurance. Start comparing rates now by entering your zip code. Shop for direct insurance rates online and save more.