If you’re purchasing or renewing an auto insurance policy in Maryland, there are three letters you should always remember: P.I.P.
It stands for Personal Injury Protection, and it could be the best friend you never even knew you had if you’re involved in an auto accident.
In Maryland, PIP insurance is “no-fault” car insurance coverage that provides you with money to cover medical bills, lost wages, rehab costs, services, and more.
How Does PIP Work?
According to a report from Forbes, the average PIP claim in Maryland is just under $2,600. However, it is essential to note that there are many, many claims much larger. For that reason, it is advised to get as much PIP coverage as you can afford to ensure everything allowable is covered, including medical bills, physical therapy, and more.
PIP coverage is hard to beat also–it covers literally everyone in the vehicle involved in the accident, including the policyholder and his or her family listed on the policy.
The Cost of PIP
Believe it or not, your insurance company probably doesn’t want you to purchase PIP. This, because the more coverage you have, the more money they’ll have to give you if you’re injured and need care.
In fact, some insurance companies in some states actually advertise savings to your plan if you waive the coverage. Our advice? NEVER waive your PIP coverage. For thousands of dollars more in coverage in an accident, it could cost you just a few more dollars per month in insurance. We’ve seen too many claims, where the injured only has the bare minimum or no PIP coverage at all. Don’t be like them!
The Benefits of PIP
Aside from being extremely affordable, there are quite a few benefits to having PIP coverage. First off, PIP typically pays out quickly because there’s no liability to figure out–it’s no-fault coverage.
That means your medical expenses are covered shortly after your accident, which is one less source of stress. PIP also covers 85% of your lost wages, so you still get paid nearly your full salary as you recover. That’s a pretty impressive security blanket. On top of that, insurance companies can’t legally raise your insurance premiums for using your PIP coverage.
PIP Attorney in Baltimore
If you’re injured in an auto accident in or around Baltimore, call the PIP attorneys at The Lapidus Law Firm. As always, seek prompt medical attention after your accident for your own well-being and to have all injuries well documented. Then call the PIP Attorney in Baltimore at (301) 852-7500 for a free, no-obligation consultation about your PIP case. We’ll let you know if you’re receiving a fair offer from the insurance company, and if you’re not, we can help.