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Which expenses are covered by PIP after an auto-related injury?
Personal injury protection (PIP) insurance can cover medical and healthcare expenses related to injuries you or any other passenger got in a car accident, regardless of whose fault it is. PIP insurance can also limit damages if the driver who caused the accident is sued for injuries. What is covered under PIP? PIP insurance can cover you until a certain amount. So, if you have PIP coverage of $10,000 but your expenses are $12,000, you can be responsible for the difference. In some cases, your health insurance can cover additional costs. The expenses your PIP insurance can cover depend on the terms of your policy. It can include: Medical expenses: Your PIP insurance can cover the cost of medical treatment, including doctor visits, hospital stays, surgery and prescription medication. Lost wages: If you can't work because of the injuries you got in the accident, your PIP insurance can cover your lost income. Rehabilitation expenses: Your PIP insurance can cover the cost of rehabilitation activities such as physical and occupational therapy. Funeral expenses: In the case of any deaths, your PIP insurance can cover costs related to funeral expenses. In-home care: If you need in-home care after the accident, your PIP insurance can cover these expenses. What do you need to know before applying for PIP? Remember that PIP coverage varies by state, so it's important to check the specifics of your policy to see what's covered and what's not. For example, some states have mandatory PIP coverage, while it's optional in others. Not sure if PIP insurance is right for you? At NEXT, we can help you with customized insurance to make sure you're protected where you need it most. Follow our quick online process to get a free quote. » Need a more comprehensive plan? Let NEXT help with commercial auto insurance
Asked a month ago
Should the employer or employee file the Workers' Comp claim?
Workers' compensation can protect both your employees and your business. For example, it can cover medical expenses and lost wages if one of your employees got hurt on the job or legal fees if your employee sues you. Because of this, you'll be required in most states to have workers' comp coverage if you have employees. Remember, the laws surrounding workers' comp differ depending on the state, so it's important to check your state requirements. As the employer, you need to file the workers' comp claim. Make sure you contact your insurer as soon as possible after the accident. This is because many states have specific deadlines — some as short as a few days after the accident happened. What should you include in a Workers' Comp claim? When you file a workers' compensation claim, you'll be required to provide specific details and any supporting evidence, including photos and any relevant documentation, such as a medical report from the employee’s doctor. Make a record of everything from start to finish and take statements from eyewitnesses as well as your employee. This can help in speeding up the process to resolve a claim. » Here's how to file a workers' comp claim with NEXT What is covered by workers' comp?Medical costsLoss of wagesRetrainingPermanent injuryDeath benefitsEmployer liabilityWhat isn't covered by workers' comp?“Acts of God” (events that can't be anticipated or be controlled such as landslides or tornados)Accidents that didn't happen at work (including commuting to and from work)Pre-existing conditionsEmployees under the influence of alcohol or drugs Report your Workers' Comp claims effortlessly As a business owner, it's your responsibility to report workers' comp claims. But communication with employees is vital to avoid missed deadlines and potential claim rejections. Establishing guidelines with your employees for workers' comp claims will help you make claims in a timely manner. » Need help with workers' comp? Explore NEXT's workers' compensation insurance
Asked a month ago
Do you need business insurance coverage for a personal car?
Deciding whether you need business insurance coverage for a personal vehicle depends on your job and how frequently you use your vehicle. Private or personal use of a vehicle refers to driving that's not related to your job or business. This can include driving to and from your place of employment and any personal or leisure activities.Business use of a vehicle refers to driving that's directly related to your job or business. For example, if you're a business owner and use your personal vehicle to visit clients or attend meetings. Generally, as soon as you use a personal car for work, you should consider buying business coverage in addition to your personal car insurance coverage. You might not be covered by your personal auto insurance provider if you get in an accident. The limits for commercial auto insurance are also often higher. Also, consider how an accident could affect your business. Business insurance can help get you back on the road quicker, and it could cover short-term care rental costs. So, you can keep on working and avoid potential loss of sales. ProsCoverage for repairs, tows and rental car replacementsProtection for third parties and property damage caused by accidentsInsurance for multiple vehicles and drivers simultaneouslyConsPremiums can be more expensive because commercial coverage can carry a higher risk Make sure you're covered To mitigate any unnecessary losses, it's important to be proactive and understand your insurance coverage and the risks associated with your job and vehicle usage. That's why NEXT offers customized business insurance so you can get coverage for what you need. Get your instant quote for auto insurance from our trusted partners by simply answering a few questions online. It can take less than 10 minutes to get the coverage you need.
Asked a month ago
Do I need commercial or personal insurance for my gym?
As a gym owner, it's essential that you have insurance to protect both yourself and your clients. Accidents can happen, and the last thing you want is to be held liable for injuries or property damage. But do you need commercial or personal insurance for your gym? The short answer is that commercial general liability insurance can help protect against third-party injury claims. This type of insurance can cover bodily injury and property damage that may be caused by your business operations. Personal insurance policies are usually designed for individuals and not business operations. For example, if a client injures themselves using a piece of equipment, they could file a claim against your gym if they think you are at fault. Without commercial gym insurance, you could be held responsible for the cost of their medical bills, lost wages and legal fees. » Find out how to protect your fitness business from coronavirus What other insurance do you need? You may also want to consider commercial property insurance to protect your workout space and equipment. This type of insurance can cover damage to your equipment caused by events like fires, water or theft. This policy can also help cover loss of income should your gym need to close down temporarily for any repair work. While commercial property insurance is not required by law, it can help protect your gym from any financial losses so you can quickly recover from unexpected events. It's also important to note that commercial property insurance won't provide coverage for injuries to your clients or third parties, so it's most helpful to have both types of insurance. How NEXT can help with your commercial insurance needs Commercial general liability insurance and commercial property insurance can help protect you and your gym against third-party injury claims and property and equipment damage. At NEXT, we specialize in tailored insurance and can help you find the right coverage for your business. In only a few minutes, you can get an instant quote online, purchase coverage and share your certificate of insurance. » Learn more about fitness insurance here
Asked a month ago
Is long-term disability insurance tax-deductible if I am self-employed?
Disability insurance is typically not tax-deductible because the Internal Revenue Service (IRS) views these benefits as a form of income, not an expense. Other reasons why disability insurance is not tax-deductible: You are taxed on all business income, so if your sole income is from your disability benefits, this gets taxed first.You pay for this insurance with after-tax dollars, meaning your insurance payments come off after your income has already been taxed.The insurance benefits are received tax-free. But there are some exceptions. It's important to speak with a licensed tax professional who can help you with your specific situation. Depending on your terms of insurance, you may be able to deduct certain medical, dental and vision expenses from your taxes. In total, if these expenses can make up more than 7.5% of your adjusted gross income (AGI), you can itemize your deductions and may qualify for tax benefits. And if you have substantial medical expenses not covered by your insurance, it can be worthwhile to itemize these as they may be eligible for deductions. » Learn how workers' compensation insurance and disability insurance differ Deductible or not, disability insurance can help Long-term disabilities and illnesses are difficult enough without having to worry about medical bills too. So, even though your disability insurance may not be tax-deductible, it can give you peace of mind and help with financial support. If you have significant medical expenses, then you might want to opt for itemized deductions to avoid any unnecessary losses. And if you have workers' compensation insurance, you may be able to receive further financial support. That's where NEXT comes in. We offer custom insurance options that are affordable and tailored to your needs. It's an easy and instant process, all done online. » Get your workers' compensation instant quote today
Asked a month ago