The cause of a loss. Perils include theft, glass breakage, flood, hail and fire. A broader form of medical payments insurance coverage under the no-fault concept. PIP offers protection for expenses actually incurred, up to a specific, per-person dollar amount. It also is offered as an optional coverage in some states without no-fault laws.
Coverage varies from state to state.
The person who pays a premium to an insurance company in exchange for the protection outlined in an insurance policy. The amount of money paid for an insurance policy. Property Damage Liability. Insurance that protects you against financial loss if you are legally liable to others for auto-related damage to their property.