One important benefit of PIP is that it will cover treatment for injuries you sustained in an auto accident, up to the limit of your coverage with minimal deductibles and co-pay. This coverage is available regardless of who is at fault in the accident. Under New Jersey's Standard policy, your PIP coverage is $250,000, although you can (and never should) opt for lesser coverage for a reduction in premium. The savings are not substantial. Under the Basic Policy, PIP coverage is $15,000, but you can (and always should) opt for more coverage for an additional premium.