There Ain’t No Party Like a First Party
First party benefits can provide some level of protection to you in the event you are injured in a motor vehicle collision, regardless of whether or not you are at fault. This is a coverage that is purchased through your own automobile insurance policy.
These First Party benefits are commonly referred to as Personal Injury Protection (PIP) or Medical Payments (MedPay). These coverages are available to pay for medical expenses related to your injuries and can also pay a percentage of your lost income from work if you are injured in an accident. To qualify for these benefits, you must carry the coverage on your policy and you must complete and submit an application to your insurance company within one year from the date of the accident, otherwise, the insurer may deny your claim and you forfeit your right to any potential benefits.
When purchasing your automobile insurance policy, you have the option to waive PIP and MedPay, however, it is not advisable to do so. The cost you will save on your premium by waiving these coverages is very nominal compared to the benefits you stand to reap, should you need to utilize them. Additionally, if you do not have health insurance and are involved in an accident, but you do not have PIP or MedPay, you will have to pay out-of-pocket for your medical expenses.
In sum, join the first party! That is, add PIP or MedPay to your auto policy and protect yourself in the unfortunate event you are injured in an accident.
Have you been injured in a motor vehicle collision? Call personal injury attorney Jaclyne Kartley at BSG LLP today for a free consultation at 301-740-3313.