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Should I Waive PIP Coverage in Maryland?

Have you heard of PIP insurance coverage? There’s a good chance you haven’t, and if you have, odds are, you waived it and brushed it off as one of those add-ons that insurance companies want you to shell out even more money to get. Or maybe you have PIP, but you don’t have enough of it.

But PIP, short for personal injury protection (and also known as “no-fault” coverage), is one of the most important and beneficial, yet most overlooked, parts of your auto insurance coverage.

What Is PIP?

As I mentioned, PIP is personal injury protection and can usually be purchased as part of your auto insurance policy. PIP is most often available in increments of $2,500, $5,000, $10,000, and $15,000. Those who opt into PIP often go for a minimum of $2,500 because it’s the least expensive option. However, $2,500 is not even close to adequate coverage when it comes to covering medical bills.

My advice to you is to go all-in on PIP and choose the maximum coverage. It’s a small price to pay (literally, less than what you pay for in coffee purchases throughout the month), but it could ultimately save you a fortune later.  If getting the top tier of PIP isn’t in your budget, then call your insurance company and say, “How much more per month is the next highest tier of PIP?”

Why Should I Add PIP to My Auto Insurance?

There are several good reasons to get PIP added to your insurance policy. Here are just a few:

  • PIP doesn’t cover just you–it covers everyone in your vehicle in the event of an accident. If anyone is hurt and doesn’t have health insurance, PIP will cover their medical bills.
  • If you have a deductible with your health insurance company, having PIP means you don’t need to worry about a deductible. PIP will cover your medical bills.
  • Even with health insurance, only a certain percentage of your medical bills will be covered. If you have PIP, you don’t have to worry about the rest.
  • PIP provides coverage regardless of who was at fault in the accident, which is why it’s also known as “no-fault” coverage.
  • One of the most important reasons to have PIP is it pays 85% of lost wages for missed work due to the accident if a doctor authorizes the work absence, or if the injured is confined to a hospital or a bed at home.

Why Don’t More People Have PIP?

It’s simple…insurance companies don’t advertise it. Why? Because insurance companies do not want to pay the maximum, even if your coverage and the situation warrants it. In fact, it’s just the opposite–insurance companies want to pay as little as possible in the event of an accident because they make more money that way. Even worse, insurance companies may actually recommend you use your health insurance to cover expenses rather than the PIP you’re paying for, even though PIP could help you far more than health insurance will from a financial perspective.

When Should I Contact a Personal Injury Lawyer?

If you have been injured and are not satisfied with the “help” (or lack thereof)  you’re receiving from your insurance company, call The Lapidus Law Firm. Our attorneys will review your auto insurance policy and make sure the insurance company is holding up their end of the business relationship.

With over 40 years of experience pushing back on insurance companies, I will fight on your behalf. Call The Lapidus Law Firm today for a free, no-obligation consultation at (202) 785-5111 or (301) 852-7500.

Written By Lawrence S. Lapidus

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