PIP and MedPay
Getting insurance rates in Grand Prairie, Arlington, Mansfield, Irving and Cedar Hill can be a real hassle sometimes. Knowing what you’re shopping for can go a long way to clarifying the differences in prices. Personal Injury Protection and Medical Payments are two coverages that are considered. There are 3 different direction you can go when considering your medical protection in auto insurance. The first option, which is taken by way too many is to reject the coverage by signature. The state of Texas has determined that you are afforded this coverage when purchasing a standard auto policy until you sign a form rejecting it. Too many times over the years, people were simply unaware of the coverage and so the state says that you have to reject it by signature so that you are completely aware of the coverage and options. Your second and third options are to choose 1 of 2 types of coverages. You can choose Medical Payments. Medical Payments is designed to help you pay medical bills should a wreck happen and you are sent to the hospital. MedPay is designed for medical bill specifically. It is the cheaper of the options. The second of the two coverages is Personal Injury Protection or PIP. PIP is designed to help you with any type of bill or loss-of-pay you encounter because you were injured in an auto loss. A few points to consider when picking one coverage or the other. If you punch a clock and only get paid if you work, then PIP is the superior option. It will kick in and help you with lost wages. Now if you have the opportunity where you still have income when you don’t go to work then MedPay is far superior because it only deals with medical bills and is significantly cheaper than PIP.
Auto insurance has 2 different types of medical coverage. One deals directly with medical bills and the other is more comprehensive, dealing with loss-of-income as well. Should you have questions about your coverages, contact your agent.