Only 20% goes to PIP? I find that extremely hard to believe. We have been sold on this new PIP reform on which the auto insurance companies can now limit the amount of personal injury protection coverage you receive by 75%. The first excuse was to cut down on fraud, then it was attorney’s fees, and now we as the consumer may not even see a reduction in cost, but our coverage is limited. As most drivers in the state carry only the minumum with no collision coverage, the majority of the amount you are paying does go to PIP and is only used in the event you are in accident as we are a no fault state. This article sounds like a way to provide a cover for the fact that we just got screwed again by the insurance companies who are again posting records profits, and denying coverage through IME’s and peer reviews. I have no accidents on my records, no tickets on my records, own my vehicle,and all the other factors that should lead to lower rates, and mine went up.
I would really like to know how this PIP insurance reform is suppose to work. Because as of right now, I pay $80.99 in monhtly premiums for Florida required state coverage, and when my policy is due to renew in Sept, 2012, my monthly premiums are going up $30.00. The insurance company (Direct) states it is because an Insurance uprate approved by the Insurance Comissioner that went into effect 06/20/12. so how is a $30.00 month increase suppose to help us. I’ve had no accidents or claims in past 9 years.
Only 20% goes to PIP? I find that extremely hard to believe. We have been sold on this new PIP reform on which the auto insurance companies can now limit the amount of personal injury protection coverage you receive by 75%. The first excuse was to cut down on fraud, then it was attorney’s fees, and now we as the consumer may not even see a reduction in cost, but our coverage is limited. As most drivers in the state carry only the minumum with no collision coverage, the majority of the amount you are paying does go to PIP and is only used in the event you are in accident as we are a no fault state. This article sounds like a way to provide a cover for the fact that we just got screwed again by the insurance companies who are again posting records profits, and denying coverage through IME’s and peer reviews. I have no accidents on my records, no tickets on my records, own my vehicle,and all the other factors that should lead to lower rates, and mine went up.
I would really like to know how this PIP insurance reform is suppose to work. Because as of right now, I pay $80.99 in monhtly premiums for Florida required state coverage, and when my policy is due to renew in Sept, 2012, my monthly premiums are going up $30.00. The insurance company (Direct) states it is because an Insurance uprate approved by the Insurance Comissioner that went into effect 06/20/12. so how is a $30.00 month increase suppose to help us. I’ve had no accidents or claims in past 9 years.