What is PIP Insurance? What does Florida being a no-fault State mean?
People are often confused about what PIP is, whose insurance company pays out the benefits in the event of an accident, and what is meant by Florida being a “no-fault” State. Here are the facts: *** PIP stands for Personal Injury Protection and under Florida law it is required that every vehicle owner and driver on the road have $10,000 worth of PIP insurance coverage. *** PIP benefits are paid by your own insurance company if you are in an accident. *** PIP benefits are paid by your own insurance company regardless of who was at fault for the accident. This is what is meant by Florida being a no-fault insurance State. *** PIP insurance pays for 80% of your medical bills and 60% of your lost wages, up to $10,000. This means, you have to recover the rest of your out of pocket expenses from the driver that caused the accident. *** PIP covers any accident or injury that involves a vehicle, even if you are on a bicycle or a pedestrian and are injured by a vehicle. Jeffrey Meldon Tip: $10,0
