Insurance Policy for Covering Personal Injury When Driving a Borrowed Vehicle

With the increasing number of vehicles on American roads, the chances of vehicle accidents are steadily on the rise. In such circumstances taking an insurance policy that covers personal injury when you drive a vehicle that is not your own can be extremely beneficial as it will reduce your financial and emotional strain when an accident occurs.

The Personal-Injury-Protection insurance policy is an auto-insurance scheme that covers risk of accidents when you or any of your family members drive a vehicle belongs to another person provided you did so with their authorization.

The PIP policy as it is called eases the financial burden created on you when an accident occurs. It will compensate 100% of funeral and medical expenses and 80% of associated wage-losses and accident concomitant expenses.

Taking compensation from PIP does not make you ineligible for damages from the other driver involved in the accident; this is the second major benefit of this scheme. The policies start from a minimum face value of $2500 with face value increments usually of $2500. Some insurers provide policies with face value of $5000-$10,000.

Spending on monthly insurance premiums for PIP will be worthwhile and can give you tremendous relief when accidents actually occur.