personal injury protection (PIP)

Personal injury protection (PIP) is a type of auto insurance coverage that provides financial protection in the event of a car accident. It pays for medical bills and lost wages resulting from the accident, no matter who is determined to be at fault in the accident. PIP also covers auto repairs and other accident-related expenses. It generally covers the policyholder, the policyholder’s family, and anyone who lived in their household at the time of the accident. PIP is a mandatory form of auto insurance in states with no-fault insurance laws, and it’s available in many other states as well.