Hi, welcome to the Ferrara Law Firm’s People’s Law School. Today’s program is going to deal with the issue of PIP insurance. This is just New Jersey now, because in New Jersey, you’ve heard the term ‘no fault insurance.’ That means that your own insurance company will pay all of your medical bills subject to a co-pay and a deductible. What we would like you to do is we would like you to remember a couple things. Number one, make sure you always select the $250,000 medical payment coverage. Don’t choose the lesser amount because it makes no sense. Now you’ll have $250,000 worth of coverage.

Also, don’t choose healthcare primary, because that’s a mess. You’re much better off with the $250,000 PIP coverage. That’s no fault. It doesn’t mean if the accident was your fault or somebody else’s fault, you still get this $250,000 medical coverage. It’s one of the reasons, by the way, that New Jersey’s car insurance is so high; because it’s really a really good program.

Also with regard to PIP, if you’re making … more than $100 a week, you can get wage loss coverage to reflect the amount of income you make per week. Let’s suppose you’re making $500 a week. Well, you can buy PIP coverage that will pay you $500 a week as long as you’re disabled. If you’re making more than $700 a week, that’s called PIP option Q, ‘Q’ as in ‘queen.’ I strongly suggest that you talk to your insurance agent or broker, or if you’re doing it online, to choose PIP option Q.

Once again, $250,000 PIP coverage is what we recommend. Don’t buy any less. Hopefully, you’ll never need the coverage that your insurance company will provide. If you want more information, we have a brochure that we will be happy to send you … that’s explains all of this in more details. Thanks so much, and we’ll see you at the next edition of the People’s Law School.