PIP | SEONewsWire.net

Auto Accidents: Top 9 Mistakes When Buying Your Auto Insurance MISTAKE TWO: Not Protecting You and Your Family

admin — Thu, 23 Jan 2014 13:00:02 +0000

Many people who purchase insurance only purchase the liability insurance required by law. As a result, you spend a lot of money on this insurance protecting other people.

But you are making a mistake if you’re not protecting your family through the purchase uninsured/underinsured motorist coverage and personal injury protection insurance.

On an almost monthly basis, I have to break bad news to potential clients that there isn’t anything I can do to help them because the driver who caused the wreck either didn’t have any insurance or didn’t have enough insurance.

Uninsureed/underinsured motorist coverage is relatively inexpensive and provide significant protection to you and your family.

The same may be said for personal injury protection insurance. This coverage is relatively inexpensive, but it can provide big benefits to you. If you’re in a wreck and have to make a claim against the other driver or even your own uninsured/underinsured motorist carrier, those claims take a long time. It may be months (or even years) before the case is resolved and you see anything from the case. PIP allows you to obtain funds almost immediately, to help pay for your medical expenses or to help with other living expenses.

Don’t make this mistake. Buy the coverages necessary to protect you and your family.

The post Auto Accidents: Top 9 Mistakes When Buying Your Auto Insurance MISTAKE TWO: Not Protecting You and Your Family first appeared on SEONewsWire.net.

Auto Accidents; Understanding Texas Auto Insurance: MEDICAL PAYMENTS COVERAGE

admin — Wed, 15 Jan 2014 12:02:26 +0000

Medical payments, or MedPay, is similar to PIP. However, MedPay only pays for medical expenses (and not lost earnings). The other significant difference is that MedPay does have a subrogation interest. If you’re in a wreck and make a recovery against another party who caused the wreck, then you would have to reimburse your insurance company for any MedPay the company paid you.

All in all, MedPay is often priced very similar to PIP, but MedPay is a much inferior product. We recommend to our friends and family members that they purchase PIP instead of MedPay.

The post Auto Accidents; Understanding Texas Auto Insurance: MEDICAL PAYMENTS COVERAGE first appeared on SEONewsWire.net.

AUTO ACCIDENTS: Understanding Texas Auto Insurance: PERSONAL INJURY PROTECTION

admin — Mon, 13 Jan 2014 15:00:58 +0000

Personal injury protection coverage (PIP) provides benefits to you, your family members, or others riding in your car when you’re in a wreck. The coverage will pay for your medical expenses and 80% of your lost wages caused by injuries sustained in the wreck up to the limits of your policy.

Unless you specifically reject PIP coverage in writing, you will have $2,500.00 of coverage. However, you can purchase much higher limits.

One significant benefit of personal injury protection coverage is that there is no subrogation interest. Most insurance, such as health insurance or Medicare, has a subrogation interest. That means that they might pay for your medical bills, but if you recover for those amounts from a third party who caused the injuries, then they will claim that you must reimburse the health insurance company for the amounts they paid on your behalf. However, PIP does not have a subrogation interest. If they pay you benefits, you do not have to reimburse them if you make a recovery.

The post AUTO ACCIDENTS: Understanding Texas Auto Insurance: PERSONAL INJURY PROTECTION first appeared on SEONewsWire.net.