For just a few extra dollars on your auto insurance premiums, Medical Payments Coverage (Med Pay) can save you and your family from bankruptcy. Let's say you are in an auto accident with your family. Another vehicle crosses the center line and hits you head-on. Everyone in your family is taken by ambulance to the local hospital and then needs additional treatment. You probably have health insurance that includes a deductible and co-payment requirements from you. How do you pay for these outstanding medical bills? Short answer, Med Pay.
MedPay is not required in the State of Indiana, so you need to check with your insurance agent and make sure it is included in your policy. Coverage usually is in increments starting at $1,000 to a max coverage of $100,000. According to Bankrate.com, medical payments coverage may only cost you $20 per year for up to $10,000 of coverage. This is a minimal expense if injured in a car accident. Medical payments coverage not only cover you, but also your family and anyone else who is a passenger in your vehicle, no matter who is at fault. It can cover you as a driver, pedestrian, passenger, and even on public transportation - depending on your insurance policy.
Health insurance may cover part of the medical expense, but often patients are left with unpaid medical bills. MedPay can help cover those high deductibles and copays. This coverage is extremely important for people who have no health insurance or have very limited healthcare coverage. Medical payments coverage tends to pick up medical expenses that health insurance will not. According to Bankrate.com, "It covers myriad other out-of-pocket costs that your health policy probably won't touch, including ambulance fees, chiropractic, dental, prosthetics and, in a worst-case scenario, funeral expenses.
MedPay gives the maximum amount of coverage to each injured person. It's not a costly option to add to your current insurance policy and will give you peace of mind. Call your insurance agent today and see how much MedPay you have and ask how much it would cost you to increase your MedPay coverage.