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Medical Payments Coverage Will Help

Do you have Medical Payments Coverage on your auto insurance policy? You should. Medical Payments Coverage pays for reasonable medical and funeral expenses you incur as a result of an auto accident. The total amount of coverage depends on your policy, but typical limits are $5,000 or $10,000. How does this help you? Let’s say you get in an accident and your medical expenses are $10,000. The at-fault driver’s insurance company offers you a $10,000 settlement offer. a) Scenario 1: Med Pay Coverage of $10,000 – You have no bills left and you put $10,000 in your pocket b) Scenario 2: No Med Pay Coverage – You owe $10,000 to your doctors and you are left with $0 for yourself. It seems like a minor detail but it can make a huge difference if an accident occurs.