PIP payments can help you pay different types of bills in Florida after auto accidents. This is why knowing about the max PIP payout can be helpful to prepare for uncertain situations.
You can also get other policies to cover bills that PIP insurance will not include. The good news is you don’t have to go any further to get this information.
Delve into the following details to understand the max PIP payout limit in Florida.
What Do PIP Payments Cover In Florida?
PIP payments cover economic and some non-economic losses in Florida. The main purpose of this insurance is to offer you financial security after crashes.
You will not have to rely on the other party to cover your personal injury damages. Here are the top things that a PIP payout in Florida covers:
- Medical expenses
- Lost wages due to direct injuries
- Emergency room visits
- Laboratory tests
- Essential services such as household cleaning services because you cannot perform the task due to injuries
Ambulance rides and surgical costs also come under PIP payments. The insurance company will primarily decide who gets the PIP check.
Typically, the adjuster will pay the hospital and service providers directly to minimize insurance fraud risks.
What Is The Cost Of PIP In Florida?
The minimum value of insurance you need for PIP is $10,000 in Florida. This will cover most of the expenses and losses caused by injuries. You may also get a policy with a higher value to improve the max PIP limits.
Regardless of any policy, the maximum expense that a PIP payout in Florida will usually cover is 80%. The remaining 20% will have to be covered by you. You may also take out an additional policy that will cover other bills that PIP does not do.
Limitations To PIP Coverage
PIP coverage in Florida is required by law for those getting auto insurance. Many people believe that this policy does not have any restrictions or a max PIP payout limit.
However, that is not true. A PIP payout has the following limitations in Florida:
1. PIP Payout Has Max Caps
One of the top limitations of a PIP payout is that it has set maximum limits for the different expenses it covers. For example, an insurance agency may set a cap of $8,000 for hospital bills and $5,000 for essential services.
The maximum limit will vary, depending on the relevant insurance agency. However, you should not expect the policy to cover all injury expenses.
Once the maximum limit is reached, the insurance company will not pay any further. Many people don’t know about this PIP payout limitation and get a shock later during tough times.
This is why you should make an informed decision about your policy value, depending on the maximum caps the insurance provider has set.
There have also been some changes to PIP laws in Florida in the last decade. So some things that were included in this insurance policy have been removed.
Always read the terms and conditions of your insurance provider’s policy before signing any document. Otherwise, you may get unexpected surprises later.
2. Complete PIP Payout Is Not Given For Non-Emergency Patients
Many people believe that a PIP payout in Florida will cover their medical expenses after every auto accident. However, that is not completely true. This coverage is mainly designed to facilitate people with major injuries and disability risks.
If you’re injured in a minor accident, the insurance will only cover $2,500 of your medical expenses. Lost wages and essential services options are not offered unless your condition is emergent.
This is why you should always have some financial savings to cover you better if you get into minor auto accidents.
You may also get another insurance policy that can help you in small accidents by covering more things. Of course, you will have to talk to your insurance provider in detail to understand these things.
An alternative is to talk to a personal injury lawyer to know the best policies for accidents in Florida.
3. There Is A 14-Day Limit To Be Eligible For A PIP Payout
One of the biggest limitations of PIP is that you only have 14 days to benefit from the policy. If you don’t take any action within two weeks of your accident, the insurance provider will reject your claim completely.
You must also ensure that you receive medical treatment within 14 days. It is important to submit the official doctor’s document and other proof to the company.
The doctor or medical technician must also label you as an emergency condition patient to help you get the full benefits of PIP. Otherwise, the company will consider you as a non-emergency patient and limit your max PIP payout.
Remember that it will still take some more time for the insurance agency to hand you the payout. That is because relevant investigations will be done before any approval.
4. A PIP Payout Does Not Cover Property Damage
PIP payments in Florida cover many expenses related to auto accidents except for property damage. This includes the repair cost of your vehicle. The company will not pay for any damage that occurs to your car whether it is major or minor.
The insurance policy will not cover the damage to any shop if you ram your car into it due to the accident. You will have to pay for these things yourself.
There are also other policies such as comprehensive car insurance to get repair costs covered by your company. The main purpose of not covering vehicle damage is that other policies have already been set by insurance companies.
The financial burden of these companies also increases because vehicle repair costs are usually significant.
5. The Max PIP Payout Will Not Cover Some Treatments
There was a time when PIP laws were highly comprehensive and allowed people to benefit from different types of health treatments. However, that increased the burden for insurance adjusters.
For example, acupuncture was previously covered by PIP insurance. You can no longer get this healthcare treatment with your policy. Such things are now covered by MedPay insurance policies.
You also cannot benefit from chiropractor visits because of changes to PIP laws in Florida. If your injuries require you to get such therapy, you must pay out of your financial savings.
PIP insurance also does not significantly cover minor injuries or therapy visits. So you will have to find alternative add-on policies for that.
This may be hard so you can combine MedPay insurance with PIP to benefit from comprehensive treatments. It can also bridge the financial gap that you may have to cover due to max PIP payout limits.
What Is The Max PIP Payout In Florida?
The max PIP payout in Florida is $10,000 for medical and disability expenses. An additional value is added to the insurance policy for death benefits. You may receive up to $5,000 for these benefits.
If your expenses and losses come under these limits, the insurance provider will cover up to 80% of bills for medical expenses. Lost wages have a lower max percentage limit.
Any injury that prevents you from working your regular job hours will enable the company to cover 60% of your lost wages. If your bills are above the max caps, you will have to cover them out of your own pocket.
However, you may not have to do that if you have comprehensive health care insurance. A good overall policy can cover the things that PIP does not do. These may include:
- MedPay payments
- Life insurance
- Vehicle insurance for property damage
How Much PIP Can You Get In Florida?
You can get a minimum of $10,000 in PIP coverage in Florida. Other expensive options are also available from insurance providers. This will depend on the relevant insurance agency.
Does A PIP Claim Increase My Rate In Florida?
A PIP claim does not increase your rate in Florida. The insurance cost, maximum limits, and amount you will receive will always remain the same. This is regardless of the extent of your injuries.
What Is The Average Cost Of PIP In Florida?
The average PIP cost in Florida is $398 with no PIP expense deductible. You can also get a policy without work loss coverage for a lower amount. Meanwhile, the cost will increase if you get a policy with a PIP expense deductible.
Do You Need A Personal Injury Lawyer To Make Pip Claims?
Now that you know about max PIP payout in Florida, you may want to know whether you need a personal injury lawyer. You should contact an attorney for consultation and other reasons.
They can help you choose the best insurance policy and also assist you in filing paperwork for a PIP payout. An expert may also offer you advice on bodily injury and personal injury lawsuits against at-fault drivers.
Contact us today to get in touch with the best personal injury lawyers in Florida.