Recovery & Repossession: Personal Injury Protection

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Recovery & Repossession: Personal Injury Protection

Leased-Car-Repoed cropPersonal Injury Protection, or PIP, is a type of insurance that can be very important for professionals in the recovery and repossession industry. It provides coverage for injury, regardless of fault, and can provide temporary relief for lost wages/income. Recovery and repossession professionals are often put in strenuous situations that can lead individuals around them to become agitated or distressed. Such a climate dramatically increases the likelihood of an altercation or a collision. Though this is often not the recovery or repossession professional’s fault, the errant party can lack appropriate coverage, leaving everyone in a challenging situation. How much will you be able to get from your own insurance coverages should the errant party’s coverage prove insufficient? How much will your company contribute through workers’ compensation or other such policies? Can you sue the errant party for the remainder? If so, will they have enough resources to be able to compensate you? The number of questions and the difficulty finding answers to them make plain the value of personal injury protection. To learn more, contact us.

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