What is Medical Payments Coverage?
Medical payments coverage can help pay for you or your passenger’s medical injuries should you be in an accident; regardless of who is at fault.
What does medical payments cover?
Medical payments coverage generally covers things like hospital bills, doctors bills, ambulance rides, health insurance deductibles and anything that would be associated with your medical injuries from a covered accident.
What Does Medical Payments Not Cover?
Medical payments coverage generally will not pay for things that are considered essential services. These are things like lost wages due to an accident or childcare expenses due to an accident because you are not physically able to take care of your child. Medical payments only covers actual medical expenses.
Do You Need Medical Payments?
The first thing to consider is this is not a coverage that is available in all states. It’s available in some states. In other states, a very similar coverage called P.I.P. or pip, personal injury protection is available. In some states it’s med pay some states it’s pip, but in all states it is an optional coverage.
However, if you have a high deductible on your health insurance plan, it would be wise to purchase medical payments coverage. What many people do if they have a high deductible on their health insurance, let’s say it’s a $5,000 deductible is they will purchase medical payments coverage in the amount of $5,000.
Then, if and when they’re in an accident they have medical payments and they’re going through their health insurance to take care of all of that. But they have that $5,000 deductible. Well they can collect that from med payments coverage and use that to go towards their health insurance deductible.
How Much Medical Payments Coverage Do You Need?
Medical payments coverage generally comes in increments of $1000, $5000, $10,000 and $20,000. You have those options and it’s up to you based off of your own specific situation. Based off of the health insurance you have, how much you need. But we recommend at least $5,000 in med pay coverage.
How Much Does Medical Payments Coverage Cost?
Like all things with insurance, that depends. It’s going to depend a lot on your specific situation, where you live, the vehicles you drive, how old you are, how many drivers are listed on your policy, your accident and claims record and a number of different factors.
As always, it’s best consult with an independent broker. They can look at your specific situation, find the best priced policy for you with the best coverage.
More Information On Car Insurance Coverage
Looking to learn more about car insurance coverage? We have you covered here. Learn about each coverage and why it’s important. Then you’ll be ready for your custom insurance proposal!