If you live in Wilsonville, OR, and surrounding areas, you may already know that having auto insurance is a legal requirement. But did you know that one of the most important aspects of auto insurance is Personal Injury Protection (PIP) coverage?
PIP coverage is a type of auto insurance that provides medical and wage loss benefits to drivers and passengers involved in an accident. It is also commonly known as no-fault insurance because it provides coverage regardless of who was at fault for the accident.
In Wilsonville, OR, PIP coverage is required by law and provides a minimum of $15,000 in medical expenses and $3,000 in wage loss benefits. However, drivers can choose to purchase higher limits if they wish to have more comprehensive coverage.
It is important to understand that PIP coverage is separate from liability coverage, which pays for damages or injuries that you cause to other people in an accident. While liability coverage is mandatory in Oregon, PIP coverage is not required in all states.
Some of the benefits of PIP coverage include:
- Medical Expenses: PIP coverage pays for medical expenses incurred as a result of an accident, including hospital stays, surgery, physical therapy, and more.
- Wage Loss Benefits: PIP coverage provides reimbursement for lost wages due to an accident. This can include both past and future wages.
- Funeral Expenses: In the unfortunate event of a fatal accident, PIP coverage may also provide benefits to cover funeral expenses.
- Additional Coverage: PIP coverage can also provide additional benefits, such as coverage for childcare expenses or other expenses incurred as a result of an accident.
Overall, Personal Injury Protection (PIP) coverage is an important aspect of auto insurance that provides crucial benefits to drivers and passengers involved in an accident. If you have any questions about PIP coverage in Wilsonville, OR, or surrounding areas, contact us today at Modern Insurance.
Remember, accidents can happen to anyone, so make sure you have the right coverage in place to protect yourself and your loved ones.