As a business owner, you know that auto  insurance is essential in protecting your business, employees and vehicles. Many policies come with personal injury protection (PIP) coverage, which pays for medical expenses and lost wages for drivers and their passengers who are injured in an auto accident, regardless of who is at fault. This form of insurance falls under the guise of no-fault auto insurance, which is designed to speed up payments to accident victims and lower the cost of auto insurance rates by reducing the number of lawsuits for minor claims.

Kentucky and over other 14 states require PIP coverage, though it can be a smart coverage option if expedited payments are necessary.

What Does PIP Cover?

PIP covers reasonable and necessary medical expenses for those named in the policy—you, your employees, others riding in a company vehicle and other authorized drivers—for injuries sustained from an automobile accident. Payments are made for costs incurred by the injured person by the insured’s own insurance company. If your company carries PIP coverage, it applies to all automobiles that you insure, and there is a premium for each vehicle.

How Much Protection Does PIP Provide?

Specific limits and coverages vary from state to state, some states have set ceilings for coverage. Total payments covered by PIP are set by the limits indicated, which are the maximum amounts that will be paid per person for any combination of covered expenses.

If PIP is not available in your state, then medical payments insurance will pay for reasonable medical bills and funeral expenses, if necessary.

Camargo Insurance understands that your auto exposures need protecting, and we are here to help. If you live in Kentucky contact Dave Setter us today to learn more about our auto insurance solutions. Call us or request a Quote today. 


Provided by Camargo Insurance

This Coverage Insights is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice. © 2007-2010, 2014 Zywave, Inc. All rights reserved.