Personal Injury Protection (pip)
Coverage to pay basic expenses for an insured and his or her family in states with no fault automobile insurance. No-fault laws generally require drivers to carry both liability insurance and personal injury protection (PIP) coverage to pay for basic needs of the insured, such as medical expenses, in the event of an accident.
Popular Insurance Terms
request by an insured for indemnification by an insurance company for loss incurred from an insured peril. ...
Form of state rating legislation that allows each property/liability insurer to choose between using rates set by a bureau or its own rates. Individual states regulate insurers and approve ...
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Maintenance of Social Security benefits at current dollar or percentage levels. Social Security benefits are indexed to the Consumer Price Index and rise in tandem with the Index. A benefit ...
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