The Importance Of PIP And UIM Insurance
Today I want to talk to you about insurance that you need before you are in a car wreck. If you drive in North Texas, you cannot get away from construction on Hwy 75 in McKinney and Allen and side construction on major throughfares in McKinney, Allen, Frisco and throughout Collin and Denton Counties. Construction and heavy traffic makes these major roadways more dangerous.
In Texas about ½ of all drivers do not have insurance. Knowing this, it is important that you take steps to protect yourself from the driver who does not have insurance, or does have enough insurance. If you are a motorcyclist, it is even more important that you protect yourself from these drivers since injuries are frequently so severe after a motorcycle accident.
Personal Injury Protection Insurance
The first type of insurance I want to talk to you about is personal injury protection or PIP insurance. This insurance is good for you. In Texas, if you buy full coverage, one type of coverage you buy is personal injury protection. The minimum that the law requires is $2,500.00. You may, and I recommend that you do, purchase more pip coverage, especially if you are a motorcyclist or road bicyclist. To collect PIP insurance after a wreck you need only send a form to your insurance company and attach evidence of medical bills or lost wages from the wreck. It is important because it provides a ready source of cash after a wreck when you need it most. Texas law does not allow health insurance to subrogate or take your pip benefits. It is relatively cheap and is easy to collect should you have an accident.
Underinsured/Uninsured Motorist Coverage
The second type of insurance I want to talk to you about is underinsured/uninsured motorist coverage. This insurance is important for you to have as well. Should an uninsured person hit you, if you do not have uninsured motorist coverage, you might have no remedy at all. Should you be hurt badly underinsured coverage stacks on top of the available liability coverage of the at fault person giving you a source of recovery if an uninsured or underinsured driver is at fault for harming you or a loved one.
In Texas, the minimum policy limits of both liability policies and underinsured/uninsured motorist coverage is currently $30,000.00. If you have full coverage, you have both liability and underinsured/uninsured motorist coverage. Just like PIP, you can buy more of either of these coverages.
At the McCraw Law Group, we want you to have the insurance coverages you need if you or a loved one are the victim of another driver’s carelessness. Not having these important coverages could leave you without an effective remedy if you are injured by a person without adequate insurance coverage.
If you do not understand your current coverages or your potential needs, don’t wait for a car accident to find out if you are covered. Call the McCraw Law Group for a free review of your insurance coverages before it is too late.