Personal Injury Protection (PIP)
InsuranceGlossary term
Definition
Auto insurance coverage that pays for medical expenses, lost wages, and other costs for you and your passengers regardless of who caused the accident. Required in no-fault insurance states and optional in others.
Related terms
- Liability CoverageInsurance protection that pays for damages or injuries you cause to others. Included in auto, homeowners, and renters insurance. Covers legal defense costs, medical bills, and property damage claims up to your policy limits.
- PremiumThe amount paid for an insurance policy, typically monthly, quarterly, or annually. Premium costs vary based on coverage amount, deductible, and risk factors.
- DeductibleThe amount you must pay out-of-pocket before your insurance coverage begins. Higher deductibles typically result in lower premium costs.
Get advice that uses your real numbers
Warren reads your accounts and explains what terms like this mean for your plan. Free to start, no credit card required.