I was recently at a party when the subject of insurance came up (call me paranoid, but I think it had something to do with me). In this case, it was regarding health insurance.
My friends were complaining about how high their deductibles have gotten over the last few years. It isn’t unusual for family deductibles to be $5,000, or more. On top of this, there may be co-insurance payments that must be met.
It got me thinking. Even though this agency doesn’t actually sell health insurance policies, we can provide you with something that will help reduce your out of pocket costs for healthcare at the time of an auto accident. It’s called “Medical Payments”.
If you have auto insurance, there’s a good chance you have Medical Payments…somewhere in the amount of $1,000 to $5,000 on average. Although we have been noticing some people who buy online, or via toll free numbers don’t have it at all.
So, what is it?
In general, Medical Payments will cover medical services for any person who accidentally sustains bodily injury while occupying or getting into or out of their automobile. Payments could include medical, surgical, x-ray, ambulance and hospital services.
I some cases, Medical Payments will even pay for things health insurance will deny or limit. This could include eyeglasses, dental services and professional nursing services.
Example one: you’re driving down a foggy road and an animal darts out in front of you. You inadvertently swerve off the road and hit a tree. The air bags deploy. EMS arrives at the scene and you’re taken to the local Emergency Room. X-rays reveal a separated shoulder, so you follow up with a visit to your doctor and he prescribes medication and treatment.
How much will this cost? How much will you have to pay “out of pocket”? How helpful could Medical Payments be right about now?
Also, keep in mind that Medical Payments can typically be used regardless of fault of the accident.
Why is this important?
Example two: Let’s say you are hurt in an accident caused by another driver. The other person’s auto liability insurance won’t likely pay until all medical treatment is completed, and you’re ready to sign off on any further claim against them.
This might not be a big deal if the accident was minor. But what if it wasn’t? What if your rehabilitation takes months…or longer? You may be left with a bunch of bills in your hands that need to be paid before settlement.
One way to alleviate this problem is to consider higher limits of medical payments.
Call your agent/agency and get a “what if” quote. Most companies will go as high as $25,000; some even higher. You might be surprised at the small cost of protecting yourself from having to dig down deep into your own pocket because of an injury caused by an auto accident.
Oh…don’t have health insurance at all? Don’t wait. Call now!
Regis Coustillac, CIC