joepistol
Well-Known Fanatic
I'm posting this in the event that someone here is paying for PIP coverage on their auto coverage and they may not need to pay this.
Maybe better stated, they can drop PIP ( personal injury protection ? ) if they are on Medicare, and have Part A and Part B coverage.
finally, a benefit for being old(er)
As with all things, there are + and - aspects to doing this, your insurance agent can better explain this.
I can say, I discovered that dropping PIP saves about 30% of the insurance cost on my cars & truck.. not a small amount.
I spoken with several friends that have done this,and it seems like a worthwhile change, for ME anyway.
as always, YMMV
As I (we) have been shopping for a new car for my wife ( which I'll drive @ times as well) I learned before buying a particular vehicle,
TALK TO YOUR INSURANCE AGENT FIRST !.. to see what insurance is going to cost.
Back in '85, I bought a new Jeep ( CJ- 7 ) while living in So.Calif., before talking to my insurance agent. After buying it, discovered that most insurance companies wouldn't insure it ! I was stuck with 1 company that was willing to sell me a policy. This was back when the Suzuki Samuari was introduced & they were having a bunch of roll-over accidents.
Yesterday I visited a State Farm agent , comparing insurance prices for the new cars we've been considering, as well as comparing their rates to USAA quotes.
I asked about lowering cost by dropping PIP coverage ( we qualify to do this) as a friend told me about dropping it.
The Agents quoted prices for new car models with & w/o PIP coverage..the difference was about 30%. .I hadn't realized the difference was that much,
so I called USAA ( my current carrier) send the paperwork to drop PIP & it was sent out today.
In addition, USAA told me I can drop 'work loss coverage" from my coverage as well, this makes sense, if you are retired.
Trying to collect $ for " work loss" would be futile if you're not employed.
Being in Mich., I will have to re-submit paperwork every 6 months ( basically resend a copy of my medicare card every 6 months)
Another thing Mich. does that makes NO sense.. probably "suggested " by the insurance industry to make it more difficult to keep your money from them.
If anyone has questions about dropping PIP, it's probably best to speak to your insurance agent, as they can better explain your options.
and laws can /do vary, from state to state.
.
Maybe better stated, they can drop PIP ( personal injury protection ? ) if they are on Medicare, and have Part A and Part B coverage.
finally, a benefit for being old(er)
As with all things, there are + and - aspects to doing this, your insurance agent can better explain this.
I can say, I discovered that dropping PIP saves about 30% of the insurance cost on my cars & truck.. not a small amount.
I spoken with several friends that have done this,and it seems like a worthwhile change, for ME anyway.
as always, YMMV
As I (we) have been shopping for a new car for my wife ( which I'll drive @ times as well) I learned before buying a particular vehicle,
TALK TO YOUR INSURANCE AGENT FIRST !.. to see what insurance is going to cost.
Back in '85, I bought a new Jeep ( CJ- 7 ) while living in So.Calif., before talking to my insurance agent. After buying it, discovered that most insurance companies wouldn't insure it ! I was stuck with 1 company that was willing to sell me a policy. This was back when the Suzuki Samuari was introduced & they were having a bunch of roll-over accidents.
Yesterday I visited a State Farm agent , comparing insurance prices for the new cars we've been considering, as well as comparing their rates to USAA quotes.
I asked about lowering cost by dropping PIP coverage ( we qualify to do this) as a friend told me about dropping it.
The Agents quoted prices for new car models with & w/o PIP coverage..the difference was about 30%. .I hadn't realized the difference was that much,
so I called USAA ( my current carrier) send the paperwork to drop PIP & it was sent out today.
In addition, USAA told me I can drop 'work loss coverage" from my coverage as well, this makes sense, if you are retired.
Trying to collect $ for " work loss" would be futile if you're not employed.
Being in Mich., I will have to re-submit paperwork every 6 months ( basically resend a copy of my medicare card every 6 months)
Another thing Mich. does that makes NO sense.. probably "suggested " by the insurance industry to make it more difficult to keep your money from them.
If anyone has questions about dropping PIP, it's probably best to speak to your insurance agent, as they can better explain your options.
and laws can /do vary, from state to state.
.
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