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PIP Choices New Law

PIP Choices New Law

When you buy Michigan No Fault Insurance under the new statutory scheme you have choices about the Personal Insurance Protection, known as PIP, or the No Fault benefits you can buy. If you want, and this is covered in the Detroit Free Press article that was just published on Sunday, you can get unlimited coverage – absolutely the way to go.

It’s what we’ve had all along. It’s what you want, it’s what protects you, it protects others who drive in your car, ride in your car, whatever they’re doing. Then, there’s a $500,000 policy. Now that sounds like a lot, but out of that it’s possible you may have to pay for the other motor vehicle and the accident victims in that vehicle in case they run out of insurance because they cheap it out. Then, there’s a $250,00 limit. Well, that’s half as good as $500,000 and better than what you could get.

Then after that, there’s Zero No Fault. Then you have Medicare Part A and Part B. That leaves lots of holes, lots of gaps, and you don’t get the premium coverage that we’re all used to. And, there’s also a Zero No Fault if you have a qualified health insurance policy.

That means your health insurance policy is going to pay for your health care from the automobile accident. Now, you’re not going to know whether that’s true and it’s going to take a long time to get certified. So, stay away from that. Then we’ve got also, the Medicaid option, which means that you’re on Medicaid and you’ve proved that you can’t afford getting good insurance because you require Medicaid. Then, you can get a $50,000 coverage.

Again, if you can afford to drive, if you can afford insurance, buy the good stuff. And pay a little more, because it’s not going to be that much more and protect yourself with an Excess Umbrella Policy. It will protect you against anyone who comes after you because you may be at fault. – PIP Choices New Law – Version 1