How Will Two PIP Claims Impact My Insurance in Florida?
In 2020 alone, Florida has witnessed over 279,000 car accidents with injuries occurring in over 60% of those accidents. Although COVID-19 has caused major shutdowns, it hasn’t made the roads any safer.
So if you plan on driving during the pandemic, you need to ensure you’re covered in case you find yourself in an accident. If it ever comes to it, you want to feel confident you’re protected when filing PIP claims on behalf of yourself and those dear to you.
However, you don’t want to make finding trouble a habit. Relying on PIP coverage too often can send red flags to insurance companies, so be aware of the repercussions.
Are you ready to equip yourself with knowledge on PIP, but unsure of where to start? Read on to learn the ins and outs of PIP insurance in Florida and how you can stay safe on the road.
What Is PIP Insurance?
Personal Injury Protection (PIP) coverage protects you and your passengers in the event of a car accident. If all parties involved are required to cover their own expenses, then PIP insurance can be a lifesaver.
It encourages people to avoid taking claims to court. As long as your injuries are covered, you shouldn’t have to worry about seeking finances from the other driver.
Yet you also want to consider the long-term effects of a car accident. Lost time and money adds up, but you can get compensated if you have the right plan in place.
Start by breaking down PIP coverage, so you understand exactly what to expect from your insurance plan.
Medical Issues
Seeking medical treatment should be your top priority after an accident. Under Florida law, your insurance doesn’t have to cover medical bills if you don’t get treatment within 14 days after the accident.
But if you take the necessary steps, you’re entitled to a great deal of support. PIP will cover medical treatment, hospital expenses, rehab costs, and more. In Florida, you can avoid 80% of your medical expenses, thanks to PIP.
Plus, you do have the ability to sue depending on the severity of your injuries and the cost of your expenses.
Make sure you document your medical bills and treatment. Otherwise, you’ll lose out on opportunities to drive down post-accident costs.
Work Losses
Time spent caring for yourself is time spent away from work. This can pile up to devastating amounts of lost wages. To stave off a financial fallout after an accident, let your PIP insurance take the hit for you.
Floridians can recover 60% of their wages through their PIP coverage, so you don’t have to pay for all your lost time. And if you can no longer perform typical household functions, PIP provides benefits for this as well.
This is a huge boost, especially if you’re paying for others in an accident. PIP can give you an extra hand while you support yourself and your family.
Funeral Costs
Another component you may not be aware of is financial support for funerals. If someone passes away in an accident, PIP will support funeral and burial expenses. PIP claims in Florida can earn up to $5,000 to address funeral costs.
Surviving family members of a car-accident victim can also receive compensation for extra support.
PIP coverage can support you and your loved ones long after a car accident occurs. Be sure to learn about PIP insurance in Florida and what it can save you down the road.
Why It Matters in Florida
Florida is a no-fault state, which means you have to have PIP insurance before hitting the road. If you get caught driving in Florida without PIP, you could suffer serious penalties.
The first offense alone will cost you $150, and you may have to wait three years to get your license back. This is a chance you don’t want to risk. Equip yourself with PIP insurance, so you can save yourself from major driving headaches.
Filing a Claim
When it comes to filing your claim, deadlines are crucial. Besides seeking medical treatment, you’ll want to document as much of the process as possible (medical bills, etc.).
You’ll also want to ensure your employer completes a “Wage and Salary” form. This will serve as proof for salary compensation, so you don’t have to pay for lost work time.
And if you’re still wondering, “What is a PIP claim?” it doesn’t hurt to ask for help. Personal injury lawyers can guide you through the process and win you maximum compensation.
The Price of Too Many PIP Claims
PIP insurance is there to help you, but you don’t want to become dependent on it. Having to file multiple PIP claims can come back to bite you, so be careful. It’s important to understand the effects of a scarred driving record.
Reputation
It doesn’t look good when you have a past riddled with PIP claims. Insurance companies will take this as a bad sign and label you as a high-risk driver.
Whether the accident was your fault or not, you’re still implicated in the mess.
This can make finding insurance difficult. After all, many people in Florida use fraudulent PIP claims, so you’ll put yourself in a difficult position. Insurance companies will find it hard to trust you for a variety of reasons.
Indirect Costs
All the time and money you lose to post-accident payments will cost you in ways you may not be aware of.
While you may know insurance companies look at your past driving record, you may not realize they also review your credit score. If you get into an accident and fall behind on payments, your credit score will drop as well.
It’s no surprise then that insurance after two PIP claims can skyrocket. This is yet another number insurance companies use to label you as high-risk.
The impact of a car accident ripples through your finances, so take note when searching for new insurance.
Drive With Peace of Mind
Many drivers travel the road with fear since they put off the proper insurance coverage. Don’t be one of these drivers. Protect you and your loved ones with the right plan, and you can file any PIP claims with confidence.
All drivers make mistakes, but it’s easier to forgive those who prepare for the worst. A considerate driver is the best kind of driver, so set up your PIP plan as a safety net. It’s the least you can do.
As an easy first step, contact us today and restore your peace of mind on the road.