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.
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