No driver wants to experience an accident. When they happen, they could cause not only vehicle damage, but also personal damage. Estimates from 2016 show that more than 6,000 people sustain injuries in car accidents every day. Every injury will likely cost money. Let's look at how auto insurance coverage can help policyholders get help paying for their injuries.
Car insurance policies often offer a couple of options for injured parties — medical payments coverage or personal injury protection (PIP coverage). Policyholders can choose between these two options. However, each comes with its own set of perks.
The True Cost Of Injuries From Car Wrecks
Your car is a piece of heavy machinery. So, if you have a wreck, there's a chance you'll get hurt. Your injuries might range from bumps and bruises to debilitating injuries. As a result, you might see a lot of costs arise on the road to recovery. In fact, the average cost of a disabling injury from a vehicular wreck is around $80,000. Even the average cost of a possible injury is $13,000. That's a lot of money you don't want to spend. How can you get help?
Auto Insurance Coverage For Driver Injuries
Accident victims might need emergency room services, surgery, hospital stays and ongoing rehabilitation. While your health insurance should be your first line of defense, it might not cover all injury costs. You could always face residual costs.
Your auto insurance policy's medical payments or PIP coverage might help pay these costs. However, there are a couple of differences between these two types of protection.
- Medical Payments Protection covers reasonable or necessary medical, surgical, dental, chiropractic treatments and more. For example, if you need to pay for ambulance services, this coverage can cover those costs.
- Personal Injury Protection often covers more than standard medical pay. It might pay for rehabilitation costs, supplementary income or lost wages. This is broader protection from which almost any driver can benefit.
In some states, drivers must carry minimum levels of med pay or PIP coverage by law. This is the case in Florida. This requirement helps keep you more secure, as you won't have to pay for many medical costs that might arise as a result of the injury.
However, keep in mind that cannot buy both PIP and medical payments coverage on the same auto policy. Drivers should therefore think about which coverage best suits them. If you have health insurance, for example, you might find medical payments coverage redundant. In this case, PIP coverage might serve you better.
Talk to your Anderson Insurance Consultants agent about adding this protection to your car insurance policy. In many cases, it won't lead to significant premium increases. Don't hesitate to see how it can benefit you.