What is Personal Injury Protection or PIP Insurance in Florida?

Personal Injury Protection (PIP) insurance is a type of auto insurance coverage that is required in the state of Florida. PIP coverage provides benefits for medical expenses and lost wages for you and your passengers, regardless of who is at fault in an accident. In this article, we will explore the details of PIP coverage in Florida, including what it covers, how much coverage is required, and the pros and cons of this type of insurance.

What is PIP Insurance?

PIP insurance is a type of no-fault insurance that is designed to provide medical benefits to the insured in the event of an accident, regardless of who is at fault. This means that if you are injured in an accident, you can receive benefits from your PIP coverage, even if you were at fault for the accident. The purpose of PIP insurance is to provide immediate medical benefits to injured drivers and passengers, without having to wait for a determination of fault or resolution of a lawsuit.

What Does PIP Insurance Cover in Florida?

In Florida, PIP insurance covers the following:

• Medical Expenses: PIP coverage pays for medical expenses related to injuries sustained in an auto accident, up to the policy limits.
• Lost Wages: PIP coverage provides benefits for lost wages if you are unable to work due to injuries sustained in an auto accident, up to the policy limits.
• Death Benefits: PIP coverage provides a death benefit if a covered person dies as a result of injuries sustained in an auto accident.

It's important to note that PIP coverage does not cover property damage, and it only provides benefits for injuries sustained in an auto accident. If you want coverage for property damage or injuries sustained in other types of accidents, you will need to purchase additional coverage.

How Much PIP Coverage is Required in Florida?

In Florida, drivers are required to carry a minimum of $10,000 in PIP coverage. This coverage is intended to provide immediate medical benefits in the event of an accident, regardless of who is at fault. However, the benefits provided by PIP insurance are often limited, and thus drivers may want to consider additional coverage options to ensure that they are adequately protected in the event of an accident.

Pros and Cons of PIP Insurance

There are several pros and cons to consider when it comes to PIP insurance in Florida.

Pros of PIP Insurance in Florida

No-Fault Coverage

One of the main advantages of PIP insurance is that it provides benefits to the insured regardless of who is at fault for the accident. This means that injured drivers and passengers can receive medical benefits quickly, without having to wait for a determination of fault or resolution of a lawsuit.

Immediate Medical Benefits

PIP coverage is intended to provide immediate medical benefits to injured drivers and passengers, which can help ensure that they receive the medical care they need quickly.

Reduced Legal Costs

Because PIP insurance is a no-fault coverage, it can help reduce the costs of legal fees associated with filing a lawsuit to recover damages. At least that is the goal of requiring PIP coverage in a no fault state. This can help drivers and passengers save time and money.

Cons of PIP Insurance in Florida

Limited Coverage

While PIP insurance provides immediate medical benefits, the coverage is often limited. The $10,000 minimum required coverage may not be enough to fully cover the medical expenses and lost wages associated with a serious accident.

Fraud

Because PIP insurance provides immediate benefits to the insured, it is susceptible to fraud. Some individuals may fake or exaggerate injuries in order to receive benefits from their PIP coverage.

Higher Premiums

Because PIP insurance is required in Florida, drivers are required to pay for this coverage as part of their auto insurance policy. This can result in higher insurance premiums, which can be a burden for some drivers.

Do You Need a Florida Car Accident Attorney?

If you have been injured in a car accident in Florida as a result of a careless or negligent driver, you should speak with an experienced Florida car accident attorney as soon as possible because you may be entitled to compensation. You can contact us online or you can call our Orlando, Florida law office at (321) 352-7588 to schedule your consultation.