AlthoughI know nobody needs yet another reminder of the consequences of our economic downturn, I’d like to share this tip:
In tough times like these, people everywhere lose jobs, and many of those who keep their jobs, lose part or all of their health insurance benefits. But hardly anyone thinks about making adjustments on their auto insurance as a result.
What does your auto insurance have to do with lost health insurance benefits?
There is an optional endorsement that you can add to your auto insurance, called PIP – or ‘Personal Injury Protection’. While the most important part of your auto insurance is usually the liability coverage – designed for the ‘third party’ that you may hurt or damage – PIP coverage is a part of your auto insurance that applies for you – the ‘first party’.
It is a way for you to protect yourself from the damages that result from an auto accident. PIP coverage includes:
– Medical Expenses for yourself and your passengers, including medical and surgical treatments, ambulance and nursing services, medications and medical supplies
– Income Continuation for you or your passengers if you are unable to work due to accident-related injuries, up to one year after the accident. PIP helps recover a portion of your lost wages.
– Substitute Services to help performing household or other tasks, if you or your covered passengers are unable due to accident-related injuries.
– Funeral Services to pay to the designated beneficiary if the insured dies due to accident-related injuries.
PIP coverage is an optional addition to your auto insurance plan. It is available for limits of $10,000 or $35,000. It is a good idea to add PIP to your auto insurance – especially if you lost impoartant health insurance benefits.
If you have questions about your policy, or about insurance coverage in general, please never hesitate to call our office at 425.379.9200.