Medical payment insurance may be a good idea even if you already have health insurance, as it can cover your co-pays and deductibles. Most importantly, it will cover your passengers, who are generally not covered by your health insurance, unless they are family members listed in your plan. If you have health insurance, you can use it to cover your bills right away while you wait for your Med Pay application to be approved. In some cases, the car insurance company will work directly with your health insurance to coordinate payment, which means you won't have to get too involved in the settlement process.
In addition, MedPay coverage never requires co-pays or deductibles, and can even be used to pay for health insurance deductibles and copays or PIP. If you've suffered a significant injury, it can take months to recover and settle with the at-fault driver's insurance. It's complementary coverage for your commercial auto insurance and your regular health insurance plan. Basically, medical payment coverage covers the necessary and reasonable medical and funeral expenses incurred as a result of a car accident up to the limit set out in the policy for you or the passengers in your vehicle.
It also covers the medical expenses of injured pedestrians and cyclists, whether you hurt someone in an accident or if someone else injures you while walking, cycling, or using public transportation. If you or your passengers are injured in a car accident, it's good to have coverage that can help pay for unexpected medical expenses. Bodily injury liability insurance covers both medical expenses and the loss of wages of the victim in an accident, and can provide protection to the policyholder in the event that the victim sues him later. It's generally best to make sure that your bills are covered by your own health insurance before filing any legal claims.
If you or a member of your family was injured as a pedestrian, cyclist, or passenger in someone else's vehicle, you can also use medical insurance to cover this situation. However, MedPay can also cover the deductibles, copays, and coinsurance expenses that come with other types of coverage, so it can help you avoid additional costs if you're seriously injured in an accident. The exact cost of insurance for medical payments depends on a few factors, such as your driving history, the type of car you drive, and the amount of coverage you buy. Once you find the right car insurance policy for your small business, you can start having coverage in less than 24 hours.
This limit determines the maximum amount your insurer will pay for each person involved in an accident. Medical payment insurance provides coverage for your medical bills and those of your passengers in the event of a car accident that causes bodily injury.