What Is Medical Payments Coverage, On A Car Insurance Policy?

As we all know vehicle insurance can be very complicated at times. So I am going to go over medical payments coverage. Or also known in other states other than Colorado, personal injury protection. This coverage only applies to states that use an at-fault tort system.

What is Medical Payments?

Medical payments coverage pays for bodily injury, and other expenses for the at-fault party in an accident. Coverage is usually available in the following increments, per person in the at fault vehicle. $5,000,  $10,000, $25,000, $50,000 and sometimes as high as 100 thousand.  This will cover such things as medical bills, ambulance ride and most other expenses. There is no deductilbe. Keep in mind this coverage is only for when you are in a at fault accident.

Why It Is Good To Carry Medical Payments?

There are always two scenario’s, when medical payments is good to have on your policy. For one you might have a high deductilbe on your health insurance. Most of the time, medical payments coverage will pick up all out of pocket expenses in your health insurance. So for example if you have a 5,000 health insurance dollar deductible, and have $5000 in med pay. Chances are you will not have to pay anything out of pocket. The other scenario is if you don’t have heath insurance. At this point I would recommend buying a much medical payments coverage as you can. At the very least, $5,000 in coverage.

How Much Does Medical Payments Coverage Cost?

Med pay is usually a very inexpensive coverage on your policy. We have seen at as low as $15 dollars every 6 months. This all really depends on you driving record, past accidents, and credit. Other factors come in to play also. For more information on this coverage feel free to contact us. We can write insurance in 45 states.

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About Mark A. Schneider
Owner of Denvers Insurance and Close Contact Security Services.

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