Subject: Do I Need MED or PIP If I’m Unemployed and on State Insurance?
Hi everyone,
I’m currently unemployed and rely on state insurance for myself and my children. I’m trying to understand whether I need Medical Expense (MED) or Personal Injury Protection (PIP) coverage.
From what I gather, MED and PIP cover hospital expenses, lost wages, and funeral costs. Since I have free health insurance through the government and I’m not working, should I just select the option to decline these coverages?
I’m feeling a bit confused about it all. My coverage has been lapsed for some time, and I want to get back on track with adequate insurance.
Thanks for your help!
It’s great that you’re looking to clarify your insurance options. MED (Medical Expense Benefits) and PIP (Personal Injury Protection) are typically included in auto insurance policies, and they help cover medical expenses, lost wages, and other related costs following an accident.
Since you mentioned that you currently receive state insurance for yourself and your children, it may cover many of your medical expenses, which could reduce the necessity for additional MED or PIP coverage. However, it’s important to consider a few points before making a decision:
What Your State Insurance Covers: Review your state insurance plan to see what medical expenses and benefits it provides, especially in case of an accident. Some plans may have limitations that MED or PIP could fill.
Accident Coverage: PIP typically covers lost wages and additional costs arising from injuries due to an accident that might not be covered by your state insurance. If you think you need that extra coverage, it might be worth considering it.
Lapsed Coverage: Since your previous coverage has lapsed, it’s vital to ensure you understand all your options and select the coverage that best meets your current needs. If you’re unsure, it may be beneficial to speak with an insurance agent who can provide guidance based on your specific situation.
Cost Considerations: If the insurance premiums for MED or PIP are high and you’re already covered by state insurance, it might be more economical to decline these options. However, getting adequate coverage is crucial in the event of an accident.
Ultimately, carefully assess your family’s needs and financial situation. If you’re still feeling confused, consulting with a knowledgeable insurance professional would be a good step to fully understand your options. Good luck!