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 Posted: Fri Apr 18, 2008 9:58 am Post subject: Extended PIP? |
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| Anyone on here do this? $100,000 for PIP. |
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InsuraJob
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| Posted: Fri Apr 18, 2008 11:17 am Post subject: |
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| Did not even know a carrier in any state would do that much. It seems excessive as at some point health insurance would be more appropriate. That is, that is a lot of coverage to pay for just on the slim chance you would sustain that much injury in an automobile accident. Perhaps the premium for that much PIP coverage would be better spent to pay for health insurance, which would address a much wider range of situations. |
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tcope
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| Posted: Fri Apr 18, 2008 12:05 pm Post subject: |
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| My old carrier had it for a while but discontinued it. I haven't done an auto claim in a long time but I would guess if you went into a coma or something it could be used. I never saw a claim that would need that much myself though. |
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InsuraJob
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| Posted: Fri Apr 18, 2008 2:35 pm Post subject: |
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| Wow that is alot!! I think I carry $15,000 and don't even truly understand PIP. I have some understanding of it since I recently was in a wreck but it seems like a complicated thing. I agree that health insurance is way more appropraite. T-scope quick question on this subject...I thought once you expired your auto med. coverage your own health ins. had to kick in...so at what point does PIP come into play? |
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fireyone
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| Posted: Sat Apr 19, 2008 1:18 am Post subject: |
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Well, most states require PIP so it certainly comes into play there. In most states PIP also covers such things as loss wages, payments to others for household responsiblites (I'm sure there is a better term for that) you can no longer do, death, etc. These things health insurance does not cover. But yes, in many cases PIP offers the same coverage that health insurance offers. For those people I say the lower limit is appropriate.
But I have read that extended PIP tends to be very cheap as compared to the initial lowest limit. That is $10k might cost $20/month but $50k might cost $22/month. Something like that. |
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tcope
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