For all of my friends who are looking to insure or are insuring an automobile or motorcycle here are a few answers to questions you may have regarding what type of insurance to buy and why:
Q: Should I buy personal injury protection (PIP)?
A: Yes, every time, always, yes. Why? Many reasons, first, because you can select coverage anywhere from $2,500 up to $10,000. If you do not have health insurance, this will provide you reimbursement, dollar for dollar for any medical care you receive relating to the crash. If you do have health insurance this coverage will provide you dollar for dollar coverage and things your insurance coverage may not cover, for example, x-rays, dental, professional nursing, even funeral expenses. This coverage may even cover a percentage of lost income due to disability resulting from injuries, and costs for services to maintain the household. Each insurance company has different coverages and these are meant to provide examples.
Some people elect to only get the medical payments/med pay when electing coverage on their policy. Med Pay only covers medical expenses, as you can see, PIP can cover much more. Generally, you will not be allowed to elect both Med Pay and PIP coverages since Med Pay is duplicative of the medical payments portion of the PIP.
Q: Should I get Uninsured/Underinsured Motorists Bodily Injury Protection (UMBI) and Uninsured/Underinsured Motorist Property Damage Protection (UMPD)?
A: Yes, every time, always, yes. Why? The most reckless drivers historically do not have insurance. They have the least to lose and can cause a lot of damage. Drunk drivers can cause more harm than they have coverage for, if they have coverage at all.
By getting protection under these policies you are covering yourself in the event a driver has no coverage or causes more harm than their policy will cover. For instance, you are injured by a drunk driver and hospitalized. Most hospitalizations cost more than the Texas state mandatory minimum of $30,000 coverage. So, if you have underinsured motorist benefits for bodily injury, your own policy will cover you up to the amount of coverage you have elected.
The additional coverage will cost you a lot less than what you stand to lose if hit and injured by a reckless driver.