Is PIP Coverage Cost Effective in Maryland?
Road accidents are among the top causes of death in the US, killing over 42000 people in
2021 alone. Apart from these deaths, every year, millions of people get injured in car
accidents, suffering minor to life-threatening injuries in varied road accidents. Most
Americans rely on their insurance to cover the expenses arising from road accidents.
This article will focus on PIP Insurance, also known as No-fault Insurance, and share
everything you need to know about it. We will discuss what the Personal Injury Protection
Insurance in Maryland covers and help you understand the benefits of this policy if you get involved in
an auto accident. We hope this article will answer all your doubts about PIP Insurance.
What is Personal Injury Protection Insurance?
PIP Insurance is a part of the automobile insurance option that helps cover medical and
non-medical costs in case of Car Accidents. This policy applies to both the driver of the
vehicle and the passengers. An insured individual can also avail of their PIP insurance claim
if they get involved in pedestrian accidents. In addition to the medical expenses, this plan
covers funeral costs resulting from auto accidents.
Several states in the United States make it mandatory for an individual to carry PIP
Insurance. The other states give the individual the freedom to take or not take the insurance
on their policy. However, we highly advise you to take this policy as the benefits of this
policy outweigh the nominal monthly payments.
What Are The Costs Covered Under PIP Insurance?
Let's take a deep dive to cover the various costs covered under Personal Injury Protection
Insurance. If you have availed of this policy, you can get reimbursed or compensated for the
• Medical expenses incurred on treatment, recovery, and rehabilitation after the
• Funeral expenses that arise from the demise of the passengers killed in an auto
• Medical, funeral, and legal fees incurred by the passengers in your vehicle are also
• Compensation for the lack of income or revenue caused by loss of employment or
• Child support expenses to cover payment towards your children's upbringing or
Are PIP Insurance Rules Different In Each State?
Yes, depending on the state you live in, the PIP terms will differ. For example, in Arkansas
PIP is optional and even pedestrians & cyclists struck by your car are covered. However, if
you're in Michigan, it is mandatory to get a PIP insurance and your relatives are covered
even if they're in someone else's vehicle.
How Much Does it Cost to Take a PIP Insurance Policy?
After discussing the medical reimbursements and compensations, you might wonder what
it costs to take PIP Insurance. Let's understand the monthly premium costs of this auto
insurance plan you need to pay.
The premium value for Personal Injury Protection Insurance depends on where you live and
your desired plan. You can choose between a plan with unlimited coverage or options with
limited monetary assistance. On average, the premium for a PIP Insurance policy can range
between $5 to $50 per month. This minimal monthly cost is dispensable compared to the
total compensation and medical coverage offered by this policy.
What are the Benefits of Availing of PIP Insurance?
We hope that learning about the coverage and compensation of the expenses offered by PIP
Insurance has piqued your curiosity. Here are the benefits you can enjoy when you take
Personal Injury Protection Insurance for yourself or your family.
1. Medical coverage for injuries:
A Personal Injury Protection Insurance policy will cover any medical expenses beyond the
expanse of your health insurance. The cost might go toward your medical treatment,
including scanning, surgery, physical therapy, rehabilitation, and other related expenses.
This coverage is available irrespective of who caused the accident and applies to both the
driver and the co-passengers.
2. Funeral and legal expenses:
When you avail of PIP Insurance, in addition to the medical expenses, you can also get
coverage for any legal or funeral costs that might arise from the accident. The same benefits
are available to the co-passengers in the car, allowing them to avail medical, legal, and
funeral expenditures if they are unfortunately involved in an auto accident.
3. Loss of income or revenue:
Another benefit of Personal Injury Protection Insurance is the compensation for the
resulting loss of income after the accident. It will cover your household expenses while you
or your fellow passengers remain indisposed from the injuries resulting from the accident. These will help you support your family despite losing your job or causing disruptions in
your business operations.
4. Child support compensation:
Taking PIP Insurance will also cover your child support payments if you get involved in an
auto accident and fail to make this mandatory payment. Your lack of income might cause
you to default on your child support payment. But taking Personal Injury Protection
Insurance will ensure that you can continue to make these payments without any delay or
Our Final Verdict: Is PIP Coverage Cost Effective?
In our expert opinion, a Personal Injury Protection Insurance policy is highly cost-effective.
It can help the insurer save thousands of hard-earned dollars while paying a nominal
monthly premium. Combining your total paid payment can not outweigh the coverage
provided by this policy, and why everyone should take benefit from this policy.
If you are indecisive about PIP Insurance, this article will answer all your questions and
queries. Personal Injury Protection will cover the total expenses incurred for you and your
co-passengers in case of auto accidents. After availing of PIP, you can enjoy coverage
against non-medical outlay such as loss of income and child support.
Irrespective of whether or not your state requires you to seek PIP Insurance, we advise
everyone to avail of this cost-effective insurance policy and claim its coverage in case of any
road accident. Reach out to a trusted PIP Insurance company near you, and avail this policy
for yourself and your vehicle.