PIP (personal injury protection) insurance is an insurance policy that was designed to help all drivers. It has a no-fault status, meaning that whether you caused the accident, or another driver is at fault, you still receive insurance benefits in the case of injury. Within the state of Florida, all drivers who own and register a vehicle must have auto insurance. To maintain Florida registration and receive a license plate, drivers must meet PIP requirements by carrying at least $10,000 in PIP insurance. Florida law states that a PIP policy covers 80% of medical expenses and 60% of lost wages as a result of the accident. If the insured person paid for the minimum policy requirement of $10,000, then this will be the maximum amount paid; if the insured person paid for a higher amount than required by law, that amount is the cap.