There’s something on your car insurance policy that hopefully has caught your eye already. What I’m talking about here, is what’s called medical payments, or “med pay”. This could be a very crucial piece of your policy, especially if you’ve suffered from some form of personal injury.
The importance of this coverage becomes higher and higher over the years. You’re probably wondering exactly what med pay coverage is. Simply put, it’s a small health insurance policy that will cover a portion of your medical bills which includes co-pays and deductibles if you have been in a car accident.
Remember that the person who caused the accident will ultimately be responsible for your medical bills, but that claim could take years. So, having medical payments coverage, even if you have a health insurance policy, is something that is generally worthwhile.
Reasons for having medical payments or "medpay" coverage:
- to make sure doctors and other health care professionals get paid quickly
- to make sure that you don't go deeply out of pocket while you are waiting to get your liability claim settled
- your primary health insurance may be asking to be reimbursed if the accident is the fault of someone else. 90% of those policies require subrogation or reimbursement.
- the person who hit you may have low insurance coverage, so every dollar you can get out of your own policies will help
It doesn’t benefit your insurance agent much to make sure you have this type of coverage, mainly because of the minimal commission they receive from it. If they have your best interest in mind, then they will make sure you have med pay on your policy. If this isn’t the case, a board certified personal injury attorney will definitely lead you in the right direction to making sure you’re covered with proper med pay coverage amounts.
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