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Image Source/Getty Images September 28, 2022 Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent. Mariah Posey is an auto and homeowners insurance writer and editor for Bankrate.com. She aims to make the insurance journey as convenient as possible by keeping the reader at the forefront of her mind in her work. Bankrate logo The Bankrate promise
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Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More What is PIP insurance
Personal injury protection, or PIP, is a required coverage in . require that drivers carry at least certain coverage types and limits. New York’s minimum limits include liability coverage, which pays for damages and injuries you cause to someone else. Your New York auto policy will also require statutory bodily injury coverage to help cover your injuries and your passengers’ injuries if someone hits your vehicle and does not have insurance. In addition to liability and uninsured motorist coverage requirements, New York requires . PIP generally covers medical expenses, lost wages and essential services for you and your passengers, regardless of who was at fault in the accident. How does New York PIP work
If you have and are injured in an auto accident, PIP coverage is designed to pay your medical expenses up to your policy’s limit regardless of fault. New York is a no-fault state; therefore, your PIP coverage pays first. However, “no-fault” insurance doesn’t mean that fault is never determined from an auto accident. While your PIP coverage pays first, if the other party caused the crash, their liability coverage should take care of your medical bills after fault is confirmed. So how exactly does New York PIP insurance work? It helps pay for medical costs and lost wages incurred in an accident. It helps pay for essential services if you cannot complete household responsibilities due to an injury from an auto accident. Here is an example: let’s say you run a red light and sideswipe a car in the intersection. Both drivers received minor injuries. Your own PIP coverage will pay for your injuries up to your policy limits. The other drivers’ PIP would cover their injuries until it is confirmed you were at fault in the accident. Then, your liability coverage would likely pay for the other driver’s medical costs. The minimum PIP coverage amount in New York is $50,000, but you can add coverage. Additional PIP extends your PIP coverage another $50,000 (for a total of $100,000 in coverage), and OBEL offers an additional $25,000 of basic economic loss coverage, which is the part of PIP that pays for lost wages, rehab after an injury or for other forms of economic loss. Is PIP required in New York
PIP insurance in New York is mandatory — that is, you are required by law to carry at least the minimum required level as part of your auto insurance policy. Almost every state in the U.S. requires motorists to have to drive legally, including liability coverage. In New York, minimum coverage requirements are: $25,000 bodily injury liability per person and $50,000 death per person $50,000 bodily injury liability per accident and $100,000 death per accident $10,000 property damage liability per accident $50,000 personal injury protection (PIP) $25,000 statutory uninsured motorist bodily injury per person $50,000 statutory uninsured motorist bodily injury per accident Statutory uninsured motorist statutory coverage only provides coverage if the accident were to occur within New York. Should you cross state lines, statutory coverage would not apply. You could buy supplemental uninsured motorist coverage, which offers uninsured and underinsured motorist coverage both inside and outside of the state. How much does PIP cost in New York
When you apply for car insurance, your insurer will give you an that estimates the premium cost. Quotes include information about your vehicle, such as its age, make and model, as well as information about you, including your age, your driving history and marital status. Part of that premium calculation will be for PIP coverage, but the cost will vary depending on those factors and more. You should be able to find out exactly how much you are paying for PIP by looking at your policy’s , which includes details about your policy. Key things to note about PIP insurance in New York
PIP is a commonly misunderstood type of car insurance coverage. If you live in New York, keep these key things in mind when it comes to your personal injury protection: PIP is a type of insurance that is designed to pay for your medical costs and lost wages in an accident, regardless of who is at fault. New York PIP coverage is a mandatory part of your auto insurance. Minimum PIP covers you for up to $50,000 for injuries incurred in a single accident. You can purchase more than the $50K minimum PIP coverage if you wish. In addition to medical costs and lost wages, PIP coverage in New York might pay things like for household costs and lost wages. There are situations where you , including if you are riding in an ATV or are injured while committing a felony. If you’re intoxicated, your PIP coverage may pay for emergency health services, but your insurer has the right to collect that money back from you. Frequently asked questions
How and when do I file a PIP claim
According to the New York State Department of Financial Services, you can file a PIP claim after an accident if injuries are involved — either your own or those of passengers in your vehicle. You would file this claim no matter whose fault the accident was since PIP extends coverage regardless of fault. PIP insurance in New York is designed to help medical costs be paid in a timely manner, without the need for lengthy court cases. In fact, your ability to sue the other driver is limited in no-fault states such as New York.
Are PIP and medical payments coverage the same thing
These coverage types are similar in that both can pay for medical costs for you and your passengers, but there are differences. Medical payments coverage pays for medical purposes only, such as hospital visits, surgery and other qualified medical charges. PIP will pay for these same expenses, but also rehabilitation, lost wages if you are out of work due to the accident and household help while you’re recovering from your injuries.
What if my injury costs exceed my PIP coverage
Your PIP coverage will only pay up to your policy limit. If you are at fault for an accident, your PIP will only pay up to your policy limit and any additional expenses will be your responsibility. If you have health insurance, some expenses may be paid by that policy, but other things — like the cost of household expenses — will likely come out of your pocket. If you aren’t at fault, keep in mind that New York also requires drivers to carry bodily injury coverage, which pays for injuries caused to another party. If the other party is found to be at fault in the accident, their bodily injury coverage could kick in to pay for your medical expenses. You may also have the ability to sue for certain costs, although New York only allows drivers to sue after a PIP claim if they meet certain qualifications. SHARE: Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent. Mariah Posey is an auto and homeowners insurance writer and editor for Bankrate.com. She aims to make the insurance journey as convenient as possible by keeping the reader at the forefront of her mind in her work.