Personal injury protection is a type of insurance that covers . Arkansas auto insurance providers will discuss the importance of PIP coverage while you’re deciding which policy best suits your needs. If you or your passengers are in an accident, PIP coverage will provide prompt assistance for medical and related expenses. These benefits are available regardless of fault.
What is PIP insurance?
PIP insurance is often called no-fault insurance. It pays benefits for injuries and damages to your body to cover medical expenses and other losses. These benefits are also covered by PIP insurance for your passengers.
These benefits are paid to policyholders regardless of fault. This is done to quickly get these funds to victims after an accident. An injured driver may not have the option of pursuing a lawsuit against another driver or seeking a settlement from that driver’s insurance company if they don’t have PIP coverage. You may not be able to recover for medical expenses if you are at fault without PIP coverage.
Insurance that covers PIP does not cover claims made against you by another driver as a result of an accident. This coverage is provided by your liability insurance. Your collision and comprehensive coverage doesn’t cover your medical expenses. These coverages protect against financial consequences of vehicle damage. Collision insurance covers damage to your vehicle and property from collisions. Comprehensive offers similar coverage, but it does not cover property damage from collision-related perils like a falling tree.
What is Arkansas PIP?
Arkansas PIP insurance claims may be beneficial for drivers who are injured or suspect they have been in an accident. This request can be combined with any other claim under your policy, such a collision claim. PIP will pay for your medical expenses without you having to deal with another driver or their car insurance carrier. Therefore, determining loss won’t affect how quickly you get a PIP payout. The sooner you file a PIP claim, the sooner you can receive payment for your immediate medical expenses and needs.
Arkansas’s PIP coverage is much more extensive than most people realize. It can be purchased in three different packages or as a combination all.
- Part 1: Medical payments, including doctor’s bills, hospital costs and ambulance costs.
- Part 2: A portion lost wages due to an accident-related absence from work.
- Part Three: Death benefits.
Arkansas PIP coverage has many benefits. PIP coverage covers you, your spouse, and any other passengers who are injured in an accident. It will pay for medical costs at the scene, ambulance expenses, and treatment at the hospital, as well as your spouse’s care afterwards. PIP coverage will pay a portion of your lost income if you are unable to work. Your car insurance company would pay all benefits directly, even if the other driver is clearly at fault.
Arkansas requires PIP.
Arkansas is considered an at-fault state, so PIP is not required in Arkansas. The responsibility to compensate an injured driver is on the shoulders of the at-fault driver. However, this can lead to lengthy and expensive lawsuits. In such cases, the car insurance company of the not-at fault driver will pay at most a portion and seek reimbursement via subrogation form the at-fault driver or his insurer.
A no fault state, on the other side, fault is not considered when determining who will be responsible for losses due to personal injury or property damage caused by an accident. Each party’s insurer is required to pay its policyholders. In no-fault states, mandatory PIP coverage is required.
Arkansas is an at-fault State, but it encourages the use of PIP coverage. All car insurance policies must include at least $5,000 in PIP coverage. You can decline coverage under the state law by sending a written notice your auto insurance company. You can also choose to increase your PIP coverage if you wish.
What is the cost of PIP in Arkansas?
Because the risk of an accident is lower than collision coverage, PIP costs can be very affordable. PIP coverage is often a worthwhile investment for drivers due to the substantial benefits that are available in the case of an accident. PIP premiums can vary depending on where you live and the carrier you choose. It is therefore a good idea to get quotes from multiple car insurance companies in order to find the best price for your needs.
Important points to remember about Arkansas’s PIP insurance
- Arkansas is a state at fault and PIP insurance cannot be mandatory.
- After an accident, PIP coverage will cover your medical and other expenses.
- Arkansas law requires that auto insurance policies must include $5,000 PIP coverage.
- Arkansas drivers may decline PIP coverage, but they must inform the state in writing.
- PIP coverage is an optional option in Arkansas. However, there are many benefits to PIP coverage that should be explored before you settle on a policy of car insurance.
Questions frequently asked
How do I file a PIP claim and when should I?
Most insurance companies allow you to file a claim online or by telephone for PIP coverage. Sometimes it is best to submit your entire claim together with your PIP benefits. It is always a good idea to have a representative explain the claims process to you once you have your policy. This will ensure that you have all the necessary forms and procedures in case of an accident.
Is PIP and medical payment the same thing?
It is not so. Understanding the differences is crucial. You might not realize that medical payments are as important as you think. This coverage covers only your and your passengers’ medical expenses resulting from an accident. These benefits are not only covered by PIP, but they also cover certain expenses like lost wages.
Are PIP payments required to be repaid through a settlement?
Yes, in most cases. Usually, yes. You will be reimbursed by your insurance company if you receive any money from the other driver through a lawsuit or settlement for the same expenses.
