What is PIP?
PIP stands for – Personal Injury Protection (known as No Fault insurance).
Personal Injury protection is required as part of your auto insurance in some states including MN. In Minnesota, no fault coverage protects you and your dependants if you are injured or killed in any auto related accident weather you are at fault or not. The basic minimum limits cover your medical expenses up to the first $20,000, and non-medical expenses up to an additional $20,000 (work loss, ect.). You can choose to increase these limits. Most people leave them at the basic limit if they have health insurance.
Here are a couple examples:
- You are getting into your car on a icy winter day. You slip on the ice while getting in and are injured.
- You are driving your child to school. Someone hits your
car. Your child is fine, but you are seriously injured. You spend a week in the hospital, can’t go to work, and you need help at home getting meals made and house
work done. Under this situation, The basic no fault insurance would cover your
medical expenses up to $20,000. The at fault drivers Bodily Injury liability would pay for
the rest (if they have high enough limits).
The non-medical limit would pay for part of your lost wages and to hire help doing domestic chores.
For more details feel free to call me at 507-226-8121 or email me [email protected].
Jon
