When deciding which policy provides the coverage you require, personal injury protection insurance (also known as PIP) is something to be aware of. Kentucky is a state with limited no fault. In no-fault countries, policyholders must pay their first medical expenses and any related expenses after a loss. These expenses are covered by optional PIP coverage in Kentucky.
What is PIP insurance?
PIP insurance is sometimes called “no fault” insurance. It covers medical expenses in the event that you or your passengers are hurt in a car accident. No-fault law was created to make it easier for Kentucky drivers to pay their medical bills after an accident. No matter who is at fault, every driver’s insurance company pays the insured’s medical bills up front.
PIP insurance is an additional coverage that is not tied to your collision, liability and comprehensive coverage. After an accident, liability coverage covers you for medical expenses and injuries. Comprehensive coverage and collision coverage do not cover medical expenses. They only cover the vehicle and its contents.
What is Kentucky’s PIP?
Kentucky is a “choice”, no-fault state . It is your decision whether you wish to purchase PIP coverage. Your insurance company will pay for your medical expenses and other related costs if you are involved in an accident. It doesn’t matter if the other driver is at fault. If the other driver is at fault, you can be compensated for injuries sustained by you. This fact is often established in court. These states require that PIP be included in your policy.
Your Kentucky PIP insurance company might recommend that you file a claim immediately if you are hurt in an accident. You should also complete all paperwork necessary to protect your PIP coverage when you file a claim. PIP can cover a wide range of medical expenses as well as other costs that are incurred due to an injury. These could include:
- For necessary operations, medical expenses
- Transport to and from the hospital
- Prescription medication
- Rehabilitation services
- Dental services
- Injuries can cause loss of wages or other income.
- Additional expenses that can be incurred include child care.
Let’s say you have a broken leg and need to get PIP. This would cover the cost of medical bills, hospitalization, and treatment costs, as well as ambulance costs. PIP also covers rehabilitation costs once you are discharged from the hospital and reimbursement for income lost during your absence.
Kentucky requires PIP.
Kentucky’s choice-no-fault laws allow drivers to choose whether they want PIP coverage. Kentucky law allows drivers to choose to decline PIP coverage. This must be done in writing. Drivers who opt for the no-fault option must have at least $10,000 in PIP coverage.
You can have higher PIP limits than the minimum $10,000, and your car insurance company may allow you to do this. This is something you should look into. You can save yourself the hassle of suing other drivers if your PIP coverage covers enough to cover your medical expenses and related expenses. Although this can be handled by your car insurer, it is time-consuming and the results may not be guaranteed.
You may be eligible for PIP payments to help you pay for some of the lost wages if you are unable to work due to your injuries. In most cases, you are entitled to 85% of your weekly income, with a minimum $200 per week.
There is a tradeoff when you purchase PIP insurance Kentucky. You give up your right to sue another driver in exchange for PIP benefits. A suit may be filed if medical expenses exceed $1,000 or if there is a fracture or permanent injury.
How much does PIP cost in Kentucky?
Like other insurance coverages, the cost of PIP insurance can differ depending on your location, circumstances, and the insurer. However, the cost differences are unlikely to have as much impact as with other coverages.
The PIP premiums are usually lower than other lines. Another factor to consider when deciding whether or not to purchase PIP coverage is the Kentucky law that requires PIP coverage to be included in all auto insurance policies for guests in your car. This amount will always be a part of your total cost. The savings you make by not purchasing PIP might be negligible compared to the benefits.
Important points to remember about Kentucky’s PIP insurance
- Kentucky drivers can opt for PIP insurance.
- PIP is a “choice”, no-fault state. By opting out of PIP coverage an insured is effectively left with fault coverage.
- PIP insurance is a great way to get immediate reimbursement for medical expenses or other costs resulting from injuries sustained in an accident.
- PIP insurance can be an affordable option to pay for injury-related costs quickly and should be considered carefully.
Questions frequently asked
How do I file a PIP claim and when should I?
If you are likely to need it (injury, suspected injury), a PIP claim should immediately be filed. This is part of the overall claim-filing process. Many Kentucky car insurance companies permit you to file your claim online or by phone. The provider may have a time limit for filing a PIP claim after an accident. Talk to your car insurance company about its policy.
Is PIP and medical payment the same thing?
It’s not exactly. Not exactly. Medical payments cover the cost of hospitalizations and any direct medical expenses arising from an accident. The PIP coverage includes more than medical benefits. It also covers lost wages and other non-medical expenses.
Will my auto insurance premiums go up if I file a PIP claim?
When you are not at fault for an accident, you won’t see a rise in your premiums. You may experience an increase in your premiums if you are found to be at fault. This will depend on the insurer. This increase is not likely to be due to you using PIP benefits, but to the carrier’s policy regarding your driving history.
