Not all vehicle-related accidents are covered by your health insurance. However, Medical Payments coverage, also known as MedPay coverage, pays medical expenses for you and any passengers in your vehicle who are injured during an accident or auto-related injury.
Not All Accidents Are Treated Equally
It's a type of auto insurance option that most people haven't heard of - unless you're a client of Thrive Insurance.
MedPay is one of the three least expensive types of auto insurance, behind rental insurance and towing. At about $2 to $5 a month, it's an affordable coverage option that can help pay medical expenses that health insurance doesn't cover.
For example, say your daughter accidentally slams the car door on your hand. Your total bill for an x-ray and cast is $1,500. Fortunately, you selected Medical Payments coverage with a $1,000 limit. MedPay will cover $1,000 of the bill, and you will be responsible for the remaining $500.
MedPay will also cover your health insurance deductible and medical expenses for anyone injured in your vehicle – regardless of who is at fault. In addition, it covers you and your family members who might be involved in an accident as a pedestrian. It's also an important coverage for the elderly to have because they tend to be more fragile. In the event of a car accident, more damage can be inflicted on someone who is 65+.
How MedPay Can Work For You
We acquired a new client in October of last year who opted in for MedPay. In January his wife totaled her car and had to go to the chiropractor for bodily damages from the accident. Her health insurance didn't cover it, but MedPay did. Those expenses would've all been out of pocket if she didn't have MedPay.
Our recommendation for MedPay
We recommend $5,000 MedPay coverage on all our auto policies. It's up to you how much you want to add to your auto insurance and it's entirely elective. Whatever amount you decide will be the maximum amount your insurance company will pay for each person involved in an accident. MedPay coverage protects you, your family, your employees and other passengers in your car.
Medical Payments is an important insurance coverage option to help protect you and those you care about. For more information about MedPay, give us a call.
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