Medical payments is a simple coverage that is often over looked. Medical payments pays for the reasonable medical expense and funeral services of any “insured” while they are occupying a vehicle, as a pedestrian OR any other person while occupying your insured vehicle.
It is often overlooked as many people say they have health insurance and therefore is a redundant coverage. To that we say, there is a certain logic to that, BUT there are several reasons medical payments makes a lot of sense.
- While you might have great healthcare, who is getting in your car, and what kind of coverage do they have? Remember medical payments covers anyone occupying your vehicle, so if you car pool or often have non-familial passengers in your car Medical Payments can be extremely important. What if they don’t have health insurance? Medical payments might be the only coverage they have in the event of an accident.
- When you are in an accident and the other guy is at-fault, his liability policy will be what kicks in to pay for your medical bills, but what if you are at fault. The only thing to help you with your medical bills may be Medical Payments on your policy.
- What is your deductible on your health insurance policy? As healthcare costs have increased many people have increased their deductible and now have HSA plans with $5,000 deductible or higher. Is your heath savings account full funded? If not, medical payments on your auto policy may become a very important “bridge” that can help cover the cost of your health insurance deductible.
So to those that say its redundant we say, maybe think twice. Medical Payments coverage is a very cheap, coverage that can become very important in the event of an accident.